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Financial News: Australia ANZ Job Ads Decline At Fastest Pace

Australia ANZ Job Ads Decline At Fastest Pace In 7 Months

01/06/2020 - 23:42:00 (RTTNews)

(RTTNews) - Australia's job advertisement declined at the fastest pace in seven months in December, data from ANZ showed on Tuesday.

Job ads dropped 6.7 percent month-on-month in December, following a 1.8 percent decrease in November. This was the third consecutive fall and the biggest drop since May.

On an annual basis, job ads decreased sharply by 18.8 percent in December, following a 12.6 percent fall in the previous month.

In the last two weeks of December, the number of job ads declined by more than expected for that time of the year, suggesting that the escalating bushfire crises had an impact, ANZ Senior Economist, Catherine Birch said.

The overall labor market remains resilient, however, bouncing back with a 40,000 gain in employment in November following the 25,000 fall in October, the economist said.

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