Confidence in the Australian economy is suggested by the increase in Australian job advertisements.
08 June 2010
Australian jobs rise shows employers are confident about the Australian economy
The number of job advertisements in Australian newspapers and internet rose 4.3 per cent in May compared to the previous month, an ANS survey shows.
Data compiled by ANZ shows the average number of ads per week was 167,633, contributing to a 21.7 per cent annual increase.
The number of internet Australian jobs advertisements rose 5 per cent in May from April, contributing to a seasonally adjusted annual increase of 22.3 per cent, but job advertisements in newspapers fell 6.5 per cent over the same period, a 13.2 per cent annual increase in seasonally adjusted terms.
ANZ senior economist Katie Dean said the data suggests employers remain confident about the long-term prospects for the Australian economy despite the tightening of monetary policy in the first half of the year and renewed concerns about the global environment.
"While the overall outlook appears bright, the fall in newspaper job advertising in May does suggest that some businesses are beginning to adopt a more cautious stance," Ms Dean said.
"With employment growth racing ahead of output growth in the first part of 2010, it may also be that some firms are beginning to slow the addition of new workers until growth in activity picks up."