Job advertisements in Australia climbed for the third straight month in October, though at a slower pace than in the previous month, latest survey from the Australian and New Zealand Banking Group revealed Monday.
Total job ads rose a seasonally adjusted 0.4 percent month-over-month in October, much slower than the 3.8 percent increase in September. In August, ads grew 1.3 percent.
Internet job ads went up 0.3 percent monthly in October, following a 4.0 percent sharp climb in the prior month. Newspaper ads recovered and increased 3.0 percent in October after falling 2.6 percent a month ago.
On a yearly basis, job ads climbed at a slower pace of 10.9 percent in October, following a 11.1 percent gain in September.
“We expect overall economic activity to remain reasonably solid over the next 12-18 months. In the near-term, labour market conditions should remain quite good, with some chance the unemployment rate could decline a little,” ANZ Chief Economist Warren Hogan, said.
“But the strength of support to labour intensive sectors is likely to wane in the first half of 2016, resulting in a softening in jobs growth and no obvious inroads into unemployment.”
“Our view remains that this will ultimately prove too uncomfortable for the RBA and a little more monetary policy support will be provided by mid-2016.”
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