Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Job ads ‘fall sharply’ in December

Fresh figures have revealed that the annual growth rate in job advertisements dropped to 3.7 per cent year-on-year last month.

According to ANZ, job advertisements fell by 1.9 per cent month-on-month in December, following a 1.6 per cent rise in the previous month. The bank said annual growth in job ads dropped to 3.7 per cent year-on-year, down from 6.0 per cent year-on-year in November.

ANZ senior economist Jo Masters explained: “After four consecutive monthly rises, ANZ job ads (ANZ Australian Job Advertisements) fell sharply in December, the first fall since July 2016. This weakness is consistent with softer business conditions and corporate profitability.”

Advertisement
Advertisement

Ms Masters elaborated that despite this “disappointing” outcome, ANZ sees the labour market losing some of its previously strong momentum rather than stalling. She noted that ANZ job ads rose by 0.5 per cent over the fourth quarter and continues to rise in trend terms.

“While the labour market has clearly lost some momentum, business and consumer confidence remain elevated, capacity utilisation appears to be on the rise, and retail sales have strengthened recently,” Ms Masters said.

“As such, we continue to expect conditions in the labour market to support an ongoing, albeit gradual, decline in the unemployment rate this year.”

[Related:  Non-mining economy ‘losing steam’ as business conditions fall]

Job ads ‘fall sharply’ in December
mortgagebusiness

 

Latest News

OPINION: The House of Representatives’ standing committee on economics has suggested that banks should automatically adjust borrower repay...

The central bank has noted lower mortgage arrears rates for more recent loans, attributing it to the effectiveness of tighter lending standa...

While the housing market has curbed its downward trajectory, meaningful growth is not yet expected, according to HIA’s chief economist. ...

FROM THE WEB
podcast

LATEST PODCAST: Best interests guidance and pre-approval suspension

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.