Job advertisements in Australia increased in June after remaining unchanged in May, the latest survey from the Australia and New Zealand Banking Group revealed Monday.
On a seasonally adjusted basis, total job ads increased 1.3 percent month-over-month in June, after a broadly flat outcome in May. In April, ads jumped 2.5 percent.
Internet job ads increased by 1.4 percent in June, following a 0.2 percent rise in the preceding month. In contrast, newspaper ads dipped by 1.3 percent over the previous month, marking its fourth consecutive monthly decline.
On an annual basis, job ads increased at a slower pace of 10.8 percent in June, after the 14.1 percent growth registered in May.
"Looking ahead, it is difficult to see jobs growth remaining as strong as it has been this year amid below-trend growth in economic activity. Significant job losses are still forthcoming as several large resource projects are completed. We expect to see the first signs of softer labor market conditions in this week's official employment figures," ANZ Chief Economist Warren Hogan, said.
"But it could take some time to get clarity on the direction of the labor market. Ultimately, however, subdued household income and spending growth will remain a significant headwind to overall economic activity and hiring. We expect the RBA to keep the cash rate at its very accommodative setting for some time but to maintain a mild easing bias," Hogan added.
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