ANZ’s monthly job ads survey was released showing ads were up 1.0% s.a. compared to December and up 10.8% from January, 2015. The comparable December figures were -0.1% and +9.9% respectively. Internet ads were up 1.1% for the month (12.1% for the year) while newspaper ads fell 3.2% (-13.1% for the year). Advertising through newspapers is now close to non-existent and just a small percentage of the internet advertising.
ANZ’s chief economist Warren Hogan said, “Overall we see the job ads series, in conjunction with other leading indicators of labour demand, as consistent with further moderate employment gains in early 2016, enough at least to keep the unemployment rate stable… In 2016 it is unlikely that the Australian economy will enjoy the same strong rate of job creation witnessed in 2015.”
CommSec chief economist Craig James said of the results, “The job market continues to strengthen, underpinned by the low growth of labour costs and firm demand for workers across the services sector.” He added the results made future interest rate cuts less likely.