Australia job advertisements rise 2.6% in August
Confidence among Australian companies seems to improve as job adds rose 2.6% in August. In comparison to the same period in 2009, job advertisements increased by 36%, according to a report. The ANZ job advertisements index measures the total number of job advertisements placed in main newspapers and online. This index shows that a weekly average of 176.239 job adds has been placed in August. Job adds rose 1.4% in the previous month.
ANZ
Warren Hogan, chief economist for ANZ, commented: “The increase in job adds in the last months indicates that confidence among Australian companies has improved. Nevertheless, the development of the global economy remains uncertain. It also indicates that Australia’s economy will continue to perform well in the last two quarters of this year.”
Job advertisements
The survey shows that job advertisements rose 6.9% in the second quarter. Adds placed in newspapers increased by 1.5%, while online job adds rose 2.6% in August. In contrast to August 2009, the total number of advertisements surged 36.1%, seasonally adjusted. It is the largest year-on-year increase since May 2007. Nevertheless, the total number of job advertisements is still 36.6% less than the top level in April 2008.
Discrepancies
The steady increase in total job adds camouflaged some ‘major discrepancies’ in the economic performances of several states and regions, Hogan noted. “The Northern Territory, NSW and Queensland posted some massive month-on-month increases in job adds. Job adds in Tasmanian rose slightly. These rises helped to compensate declines in job adds in Australian Capital Territory, South Australia, Western Australia and Victoria.”
Australian companies
Hogan predicts that local discrepancies in job advertisements will continue in the next months. He expects that the resource states of Western Australia, Queensland and possibly New South Wales will post the best results. Hogan believes that the increase in job adds in the last months impacts the present unemployment rate of 5.3%. Therefore, the unemployment rate is set to drop below 5.0% this year. “Australian households will benefit from this development. However, it may also increase Australia’s comparatively high inflation rate,” Hogan added.
Source: http://www.forextradingpal.com/forex-trading-news/2010/09/australia-job-advertisements-rise-26-in-august/
ANZ
Warren Hogan, chief economist for ANZ, commented: “The increase in job adds in the last months indicates that confidence among Australian companies has improved. Nevertheless, the development of the global economy remains uncertain. It also indicates that Australia’s economy will continue to perform well in the last two quarters of this year.”
Job advertisements
The survey shows that job advertisements rose 6.9% in the second quarter. Adds placed in newspapers increased by 1.5%, while online job adds rose 2.6% in August. In contrast to August 2009, the total number of advertisements surged 36.1%, seasonally adjusted. It is the largest year-on-year increase since May 2007. Nevertheless, the total number of job advertisements is still 36.6% less than the top level in April 2008.
Discrepancies
The steady increase in total job adds camouflaged some ‘major discrepancies’ in the economic performances of several states and regions, Hogan noted. “The Northern Territory, NSW and Queensland posted some massive month-on-month increases in job adds. Job adds in Tasmanian rose slightly. These rises helped to compensate declines in job adds in Australian Capital Territory, South Australia, Western Australia and Victoria.”
Australian companies
Hogan predicts that local discrepancies in job advertisements will continue in the next months. He expects that the resource states of Western Australia, Queensland and possibly New South Wales will post the best results. Hogan believes that the increase in job adds in the last months impacts the present unemployment rate of 5.3%. Therefore, the unemployment rate is set to drop below 5.0% this year. “Australian households will benefit from this development. However, it may also increase Australia’s comparatively high inflation rate,” Hogan added.
Source: http://www.forextradingpal.com/forex-trading-news/2010/09/australia-job-advertisements-rise-26-in-august/
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