Australia Job Ads Decline In February: ANZ

Australian job advertisements declined to the lowest since October 2015, a survey by Australia and New Zealand Banking Group showed Monday.

Job ads in newspaper and on the internet decreased 1.2 percent on a monthly basis to 154,748 in February.

Within total ads, internet job advertisements fell 1.3 percent, while newspaper ads advanced 6.9 percent in February.

"The fall in job ads in February may reflect some caution on behalf of businesses amid heightened financial markets volatility and negative news flow on the global economy," ANZ chief economist Warren Hogan said.

"It could also partly reflect the tricky nature of seasonal adjustment at this time of year," Hogan added.

On a yearly basis, total job ads grew 8.2 percent as internet ads climbed 8.7 percent. Meanwhile, newspaper ads slid 10.7 percent.

Overall, the weaker trend in job advertising supports our view that hiring is slowing. The agency expects the unemployment rate to remain around 5.75-6 percent for much of 2016.

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