As per the latest update on the ANZ Australian Job Advertisements for the month of July 2018, the job ads have seen a surge of 1.5 per cent on a month on month basis against the last month (June) movement that was in the red zone by about 1.7 per cent. The latest rise has been with respect to advertisements at platforms such as newspapers and internet, and this has been at 177,000 to 178,000 job ads per week since January 2018.
The update has been well appreciated by the market as the 1.5 per cent rise in ANZ Australian Job Advertisements has been on a seasonally adjusted basis while the same reflects a 7.3 per cent growth in July on an annual basis against the 6.9 per cent growth noted as at June. However, there was a 0.2 per cent reduction in trend terms for the job ads on a month on month basis in July and this has been witnessed for the first time in last four years. This adds to the continuous fall on month on month trend growth from February 2018. Particularly, the monthly growth has slowed from 0.8% in Q1 to 0.2% in Q2 on an average basis.
The scenario has been portrayed at the back of opposing trends for business conditions that have been above the long term averages although below record levels while capacity utilization and profitability have been up. On the other hand, the unemployment rate has been inching lower while employment growth moves up with some stability.
Nonetheless, wage growth and consumption can be impacted by any change in the above trend. This will also hurt the inflation scenario. While the current situation looks mixed, this would be a close watch for further inference and economic scenario.
ANZ JOB Ads (Source: ANZ Research)
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