MNI: Australia ANZ Job Ads Dn But Consistent With Jobs Growth

By Sophia Rodrigues

     SYDNEY (MNI) - Job advertisements in Australia fell for three consecutive

months in April, leading to a slowing in year-on-year growth pace.

     However, ANZ's head of Australian economics David Plank remains optimistic

about the outlook for employment growth based on above-average business

conditions, capacity utilization and profitability.

     Data published by ANZ Monday showed jobs ads fell 0.2% m/m in April after a

revised 0.1% fall in March. The fall led to a slowing in y/y pace to +8.6% which

was the lowest since December 2016.

     ANZ's Plank said that despite the pause in job ads growth, the level

remains high and is consistent with ongoing employment growth. 

     "Business conditions and profitability remain well above their long term

average. Levels of capacity utilization also remain high. As a consequence we

remain optimistic about the outlook for employment growth, even if we get some

further adjustment after last year's strength," Plank said.

     The National Australia Bank's business survey for April, also published

Tuesday, shows employment sub-index at record high in trend terms, business

condition equalling previous record high and capacity utilization up further.

They are all supportive of strong employment growth. 

     From the ANZ job-advertisement survey for April:

                              April                     March

-------------------------------------------------------------

Job Ads (SA*, Change M/M)      -0.2  -0.1% (revised from 0.0)

Job Ads (SA*, Change Y/Y)     +8.6%                    +11.5%

Job Ads (Trend, Change M/M)   +0.4%                     +0.7%

Job Ads (Trend, Change Y/Y)  +10.5%                    +11.4%

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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