The total number of job advertisements in Australian newspapers and on the Internet rose 2.7% in seasonally adjusted terms in June from May to an average of 169,690 ads per week, contributing to a 32.2% annual increase, Australia & New Zealand Banking Group, which compiles the data from major newspapers.
The number of Internet job advertisements rose 3.0% in June, contributing to an annual increase of 33.6% in seasonally adjusted terms. Job advertisements in newspapers in Australia fell 1.6% in June contributing to a 11.8 annual increase in seasonally adjusted terms. The rise in advertising in June suggests that employers remain confident about Australia's economic prospects, despite escalating concerns about the global environment, said ANZ chief economist Warren Hogan.
However, there is also evidence within the data that employers are growing somewhat more cautious about the economic outlook, he said. "The fall in newspaper job advertising in May and June does suggest that some businesses are adopting a more cautious stance.
This is not unexpected given increasing concerns over the global backdrop," Hogan said in a statement. A recent decline in business confidence and subdued activity in interest rate-sensitive, labour-intensive sectors of the economy such as retailing may also be constraining demand for new labour, he added.