Not usually a huge immediate impact on the NZD, which in thrall to the USD it seems (as are so many others) ... but the NZD has been soft
ANZ Job Ads for February: -1.2% m/m
- prior +2.9%, revised from +3.1%
Up 5.8% y/y (3 mth MA)
- prior +5.9%
ANZ;
- As the economic cycle has matured, growth in job ads has eased to a more gradual pace, in contrast to the breakneck pace set over 2016.
- There was a marked drop in job ads in the construction, utilities, manufacturing and transport sector, which comprises about a third of job ads.
Further remarks from ANZ highlight:
- more modest growth trend in job ads
- Labour market is tight, skilled labour in particular
- Employment growth is moderating
ANZ say wage growth is coming, citing:
- business confidence improvement
- business profitability
- workplace relations reform
- rises to the minimum wage
NZD doing very little on the release
