ANZ’s job advertisement survey is well-known as a leading indicator of employment numbers in Australia. It reflects changes in demand for labour and it provides another measure of activity in the economy.
Figures for April have been released and, after revisions, total advertisements were 1.4% higher for the month, up on the previous month’s figures of 0.3%. Year-on year growth was 10.1%, up from 7.0% previously.
David Plank, ANZ’s Head of Australian Economics, said there was a gap between the ABS official employment figures and survey estimates. He expected the gap to be closed as employment numbers increased. Lower advertising would also close the gap but this is thought to the less-likely outcome as business conditions and confidence have been above-average so far. “The improvement in ANZ Job Ads and other leading employment indicators suggests we may be in for a sustained period of strength in the official employment data following the strong lift in jobs in March.”