The data from ANZ on job advertisements data reflect the average weekly number of jobs advertised in the major daily newspapers and internet sites for every capital city.
For September, comes in at -0.3% m/m and up 3.7% y/y
- The previous result, for August was up 1.7% m/m (revised from 1.8% m/m) and +8% y/y
Commentary from ANZ's head of Australian economics Felicity Emmett
"The fall is consistent with some loss of momentum in labour markets this year, and more recently, in surveyed business conditions. It is also consistent with the RBA's business liaison which reported that some firms had taken a more cautious approach towards hiring.
That said, job ads and still-elevated business conditions continue to suggest that the labour market remains in good shape. Indeed, the rise in job ads over the past three months is consistent with moderate annual employment growth, which should be sufficient to underpin a further decline in the unemployment rate, albeit at a gradual pace."
