Australian Job Ads at 17 Month High
Australian job advertisements in newspapers and on the Internet rose for a third straight month in August to hit a 17-month high, offering hope that a recent spike in unemployment might prove temporary.
A survey by Australia and New Zealand Banking Group showed total job advertisements rose 1.5 percent to 135,569 per week on average in August. That was the highest average since March last year.
Ads on the internet rose 1.5 percent in August, while those in newspapers showed a rare increase of 1.8 percent.
“Recent trends in job advertising are consistent with a gradual turnaround in the labour market,” said ANZ chief economist Warren Hogan.
Ads on the internet rose 1.5 percent in August, while those in newspapers showed a rare increase of 1.8 percent.
“Recent trends in job advertising are consistent with a gradual turnaround in the labour market,” said ANZ chief economist Warren Hogan.
“We envisage the unemployment rate remaining a touch above 6 percent for a few quarters and only very gradually falling from there,” said Hogan.
Source: Reuters
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