Job ads decline in April
The total number of jobs advertised in newspapers and on the internet fell by 1.2 percent in April
The total number of jobs advertised in major metropolitan newspapers and on the internet fell by 1.2 percent in April, marking the first decline since January.
According to the latest ANZ Job Advertisements Series, total ads have fallen to an average of 160,660 per week (seasonally adjusted).
Newspaper job ads were down by 0.7 percent from March, yet are now 17.6 percent higher than they were a year ago.
Queensland, along with the Northern Territory and the ACT, saw an improvement in the number of newspaper job ads, while other areas posted falls.
According to ANZ, the number of internet job advertisements fell by 1.3 percent Australia-wide in April.
Despite the monthly decrease, they are growing at their fastest annual pace (14.7 percent YoY) since April 2008.
MODEST DECLINE ‘NOT SURPRISING’: ANZ
ANZ Chief Economist Warren Hogan says the modest decline in job ads is "not surprising" in wake of two successive rate hikes from the RBA.
"In addition, some slowing in demand for labour is to be expected after very strong growth in the second half of 2009 and into early 2010," Hogan says.
"Although there has been some slowing in the monthly growth figures in recent months, trend growth in job advertisements is above its long-term average, suggesting that demand for labour remains relatively healthy," he says.
Looking ahead to the ABS’ April Labour Force report (due this Thursday), Hogan predicts a modest uptick in employment.
"Solid momentum in job vacancies, combined with other forward looking indicators of labour demand, point to further employment growth through 2010," he assures.
"We expect the June quarter to be the low point for employment growth this calendar year, before it picks up in the second half of 2010."
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