Australia's borrowing costs could again be slashed on Tuesday as a new survey had indicated that companies were holding off on their hiring plans notwithstanding the vaunted mining boom relied on by the federal government as the country's economic backbone.

On Monday, the private ANZ Bank survey laid out an employment trend that showed job growth was not advancing as it should be with the resource boom underway, with the data pointing to an overall shrink of 2.4 per cent, seasonally adjusted, in nationwide job advertisements in the last 30 days to the end of May.

In fact, the ANZ survey noted that newspaper job advertisements in Western Australia, the country's premier mining region, had retreated by 5 per cent in the month, marking the fifth consecutive month that the indicator has been contracting.

Over the past 12 months, job ads plummeted by 4.3 per cent, the survey said, with only companies based in the New South Wales seemingly going against the downsizing direction as the state recorded job ads spike of 4.5 per cent in the same period.

Mining states, foremost of which Queensland and Western Australia, appeared to have generated less jobs than expected by economists owing to the regions' reputation as the country's mining belt and where much of the resource actions were supposed to be taking place.

ANZ said that as a whole, print ads shed 2.0 per cent in the month and 17.3 per cent lower in the past 12 months while Web advertisement of available jobs plunged by 2.4 per cent, highlighting a worrisome development in the employment sector as total jobs ads in April dipped only by 0.8 per cent.

"Job advertising trends are sending a signal of a softening in labour demand in Australia, including more recently in the mining states," Ivan Colhoun, ANZ's head of Australian Economics and Property Research, was reported by the Australian Associated Press (AAP) as saying.

The new data, Mr Colhoun added, confirmed the "weaker performance in the non-mining sectors of the economy."

The ANZ report also flagged ahead that the domestic economy lost as many as 5,000 jobs in the month, which it said will be reflected by the official job data that the Australian Bureau of Statistics will furnish later this week.

The release was issued as many economists predicted that the Reserve Bank of Australia (RBA) board may opt for another huge cut tomorrow to spur further growth in the local economy, which the Gillard Government said is highly possible considering the flexibility afforded in the 2012-2013 budget plan presented in May.

Apart from the $1.5-billion surplus pledged in the budget, it also outlined spending cuts that could exceed $40 billion but with sufficient provisions for welfare compensations to low-income Australian households, many of which were the first to be hit by crippling job losses.