ANZ’s monthly job ads survey was released showing ads were up 3.9% (seasonally adjusted) compared to August and up 12.8% from September, 2014. The comparable August figures were +1.0% and +8.7% respectively. Internet ads were up 4.0% for the month while newspaper ads were down 2.7%. Compared to a year ago internet ads were up 13.7% while newspaper ads were down 19.6%.
ANZ’s chief economist Warren Hogan said, “The positive trend in job advertising is a sign that the economy is so far adjusting relatively well to significant headwinds from falling commodity prices and mining investment.” However, he expects “the significant support to growth from the factors above will wane heading into 2016.”
Westpac welcomed the “small positive revision to August” but said the trend “is much softer than past recoveries”. It also added newspaper ads “are virtually redundant.”