Monday 8th August 2016 - 7:27 pm

Job ads “ease”

by Alan Thornhill

Job advertising fell last month, according to research the ANZ bank published today.

 

The bank said job ads fell by 0.8 per cent in July.

 

It said this was the first decline since April and may reflect heightened uncertainty temporarily delaying the hiring plans of some employers.

 

It added that the annual growth in job ads has slowed to 6.9 per cent from 8.0 per cent  the previous month.

 

 

The bank said too, that the fall in July was driven by both internet and newspaper job ads.

 

Internet job advertisements, which are the main driver of total job ads, declined by 0.7 per cent in July, the bank noted.

 

It said that annual growth in internet jobs ads had slowed from 8.8 per cent  in June to 7.9 per cent in July.

 

The more volatile newspaper ads remain on a structural downward trend and fell further in July, down 12.6 per cent  in the month to be 41.7 per cent  lower than a year ago.

 

The bank’s head of Australian Economics, Felicity Emmett, said:  “the labour market has lost some momentum so far in 2016.”

 

She said there had been :  “slower average growth in both employment and job ads seeing the unemployment rate stabilise around 5.75 per cent.

 

The labour market has lost some momentum so far in 2016, with slower average growth in both employment and job ads seeing the unemployment rate stabilise around 5.75 per cent, in the second half of last year from a peak of 6.3 per cent.”

 

Ms Emmett said, too, that: “more recently, job ads rebounded strongly in May, followed by a modest rise in June.”

 

But she also noted that:  “…these increases have been partly unwound by the decline in July.

 

“Given that ads fell sharply in early July, we think this decline may partly reflect the impact of increased uncertainty following the close federal election on 2 July and the shock decision by the UK to leave the European Union on 24 June,” she said.

 

This impact appears to have been short-lived,

 

Job advertising fell las month, according to research the ANZ bank published today.

 

Ms Emmett also said:  “the labour market has lost some momentum so far in 2016.”

 

Ms Emmett said, too, that: “… job ads rebounded strongly in May, followed by a modest rise in June.”

 

But she also noted that:  “…these increases have been partly unwound by the decline in July.

 

“Given that ads fell sharply in early July, we think this decline may partly reflect the impact of increased uncertainty following the close federal election on 2 July and the shock decision by the UK to leave the European Union on 24 June,” she said.

 

This impact appears to have been short-lived,” Ms Emmett added.

 

 

With surveyed business conditions remaining upbeat and the RBA cutting rates in August, we look for a gradual improvement in hiring intentions over the remainder of the year,” Ms Emmett said.

 

 


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