Job ads lose momentum in 2010


The total number of jobs advertised in major metropolitan newspapers and on the internet fell by 8.1 percent in January

Job ads lose momentum in 2010
Job ads lose momentum in 2010
February 1, 2010

The total number of jobs advertised in major metropolitan newspapers and on the internet fell by 8.1 percent in January, according to the ANZ Job Advertisements Series released today.

Despite growing by 11.6 percent in December, the number of job ads in newspapers Australia-wide fell by 16.6 percent last month to an average of 8,796.

Similarly, the number of internet job ads fell by 7.5 percent to average 125,310 per week.

ANZ Acting Chief Economist Warren Hogan says despite this month’s decline relative to December, total job advertisements are continuing to improve month on month (1 percent) in trend terms.

"This has already translated into solid employment growth through Q4 2009 and helped to keep the unemployment rate in check, despite Australia’s accelerating population and labour force growth," Hogan says.

He says today’s results highlight the fragility of the current recovery phase, yet assures there should be more solid growth rates as the year progresses.

"In the near term, the forward indicators appear positive for more employment growth through the first half of 2010, although probably at a slower pace than seen over the past four months," Hogan says.

"The January Labour Force report, due Thursday 11 February, is likely to confirm this expectation, with another rise in total employment," he says.

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