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Financial News: Australia ANZ Job Ads Fall Further

Australia ANZ Job Ads Fall Further

12/01/2019 - 23:40:00 (RTTNews)

(RTTNews) - Australia's job advertisement declined again in November, data from ANZ showed on Monday.

Job ads dropped 1.7 percent on a monthly basis in November, following a 1 percent decrease in October. From last year, job ads decreased sharply by 12.6 percent.

Although there has been a longer lag than usual, the downturn in the number of advertisements may be starting to filter through to the labour market, ANZ Senior Economist, Catherine Birch said.

Employment growth is expected to decline into 2020, lagging the deterioration in GDP growth over the past year.

"While we expect the Q3 GDP data (Wednesday 4 December) to show growth starting to gradually pick up from its low, the fact that the ANZ Job Ads figure is still falling suggests that the softness in the labour market has a way to run," Birch added.

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