Job Ads Slip

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Job ads on the Internet and in newspapers fell 0.8 per cent in April, compared with March, according to the ANZ job ads series.
The ANZ says the job ad series has been broadly flat now for the last six months, following a period of substantial growth in employment.
ANZ’s head of Australian economics Felicity Emmett said the fall in ads was not surprising, given the strong recent growth in employment.
“The moderation in job ads could alternatively reflect some uncertainty by firms around the near term outlook, given the double dissolution election in July, or a general softening of the economic outlook,’’ Ms Emmett said.
She said the reaction to the 2016 Federal Budget had been mixed and the RBA’s decision last week to cut interest rates to a record low of 1.75 per cent showed the challenges facing the economy.
She said the ANZ job ads series suggest that the economy has lost some momentum after strong growth in the second half of 2015.
“Hiring looks to be taking a breather for the time being, and further significant inroads into the unemployment rate may be more difficult to achieve in the near term,” Ms Emmett said.

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