- rise 0.7 % m/m (prior -1.4% , revised to -1.1 %)
NZD/USD trading at 0.8070/74 unchanged.
RTRS:
Vacancies advertised either online or in newspapers rose a seasonally adjusted 0.7 percent from June, according to the ANZ Bank’s monthly survey.
The increase followed a revised 1.1 percent fall in June, as the employment market showed further softness.
Internet advertisements fell 0.3 percent from the previous month while newspaper ads were 6.3 percent higher.
The composite index, which gives more weighting to newspaper advertisements, rose a seasonally adjusted 2.8 percent.
Figures released last week showed New Zealand’s unemployment rate unexpectedly rose to 6.8 percent in the second quarter, its highest in two years, as the economy surprisingly shed jobs.
“Overall, job ads data is consistent with an unemployment rate hovering between 6.5 and 7.0 percent over the next six months,” said senior economist Sharon Zoellner.
The rise in the jobless rate highlighted that a sluggish employment sector as the overall economy struggles to grow, keeping expectations intact that New Zealand interest rates will stay at a record low 2.5 percent this year.
Wage growth remains subdued, and along with benign inflation, a high currency and uncertain global outlook, have backed expectations that the Reserve Bank of New Zealand will wait until at least the first quarter of 2013 and possibly later to start raising rates.
