Job ads edge up in July
Australian job advertisements rose in July, with both online and newspaper ads higher after three months of successive declines, according to a survey by Australia and New Zealand Banking Group Limited (ASZ:ANZ).
The monthly data indicated the total number of employment ads edged up 1.3 per cent to a seasonally-adjusted average of 171,685 per week, although the total figure for the month was down on the 2.8 per cent growth in job ads recorded in June.
The company said its Job Advertisements Series climbed 36.1 per cent from a year ago at its cyclical through, and is close to the May 2007 peak in annual job ads growth of 40.2 per cent.
However, ANZ said total job advertisements is still 38.2 per cent below the all-time peak recorded in April 2008.
Job advertisements in large metropolitan newspapers increased by 1.2 per cent in July after three months of declines, elevating the annual growth rate to 14.5 per cent. Trendwise, newspaper job ads slid by 0.2 per cent month-on-month in July, but was 13.6 per cent stronger year-on-year.
Internet job ads climbed by 1.3 per cent in July and are now 37.6 per cent higher than a year ago, expanding at their quickest yearly pace since November 2007. In trend terms, internet job ads rose by 1.9 per cent month-on-month and 35.5 per cent year-on-year.
ANZ chief economist Warren Hogan said the latest data emphasise Australia's resilience against the backdrop of uncertain global economic conditions.
"Australian employers still appear upbeat about Australia's economic prospects despite heightened external risks," Mr Hogan said.
"Indeed, while July has seen some moderation in the growth of total job advertisements it is encouraging to see that, in contrast to the last three months, both newspaper and internet job advertisements increased in July.
"It is also encouraging to see that job advertising is picking up across the regions. In July, newspaper job advertisements rose across all states and territories except for Queensland and Tasmania. This contrasts with the previous two months, when job advertisements fell in six out of eight states and territories."