Small Decline In Australian Job Ads

Australian jobs ads on the web and in major newspapers fell 0.3 percent in July to a weekly average of 261,936. This follows a 3.0 percent decrease in June. Despite the recent declines, total job ads in Australia are still 5.5 percent up on a year ago.

Job ads in major metropolitan newspapers fell 5.1 percent in July to average 15,739 a week. Newspaper job ads are now 21.7 percent lower than in July 2007.

The number of job ads on the web was stable at an average of 246,197 a week in July up slightly 246,112 in June.

ANZ Head of Australian Economics Warren Hogan, said: “Total job advertisements continued to weaken in July largely because of 5.1 percent decline in newspaper advertisements. Internet advertisements were unchanged in July and are 7.9 percent above year ago levels. The overall trend in job advertisements continues to weaken, indicative of a softening in hiring intentions across Australia in 2008. The level of job advertisements remains at high levels, particularly internet ads, and in July the overall rate of decline has slowed. However, recent trends in job advertisements suggest that we will see an easing of employment growth in coming quarters, consistent with the slowing in domestic economic conditions in Australia over the first half of 2008. On this basis we expect to see a gradual drift up in the unemployment rate over the year ahead. ANZ is forecasting unemployment to be around 4.9 percent by June 2009.