Surprise turnaround as job ads continue to accelerate

Total number of jobs advertised rose by 6 percent in December, ANZ says

January 11, 2009

The total number of jobs advertised in major metropolitan newspapers and on the internet rose by 6 percent in December to average 149,063 per week, according the ANZ.

The Bank’s Job Advertisements Series released today shows newspaper job ads rose by 11.6 percent to average 10,631 per week, while internet job ads rose by 5.6 percent to 138,432 per week.

Queensland pulled through with a promising increase in seasonally adjusted newspaper job advertisements, rising 9.5 percent over the month.

However, despite experiencing their strongest monthly growth rate since May 2007, Australia’s level of total job ads remains 22.6 percent lower than a year ago.

ANZ Acting Chief Economist Warren Hogan assures total job advertisements are now well past the low reached in July 2009 and are continuing to improve month on month.

"This is already translating into employment growth and helping to keep the unemployment rate relatively stable, despite accelerating population and labour force growth," Hogan says.

"This sustained improvement in job advertisements and actual employment has come relatively early in this economic recovery cycle, indicating the ‘mildness’ of the downturn Australia has experienced over the past 18 months," he says.

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