MNI: Australia ANZ Job Ads Up; Points To Jobless Rate Decline

By Sophia Rodrigues

     SYDNEY (MNI) - Job advertisements in Australia rose for the first time in

four months, taking the year-on-year pace back to double-digit growth. 

     The increase more than offset the total 0.7% fall seen over the three

months prior and according to ANZ, it points to employment growth that would be

consistent with a gradual decline in the unemployment rate. If true, this would

remove downside risks to the Reserve Bank of Australia's monetary policy.

     Data published by ANZ Monday showed jobs ads rose 1.5% m/m in May after a

revised 0.3% fall in April. 

     ANZ's head of Australian economics David Plank said it is quite encouraging

to see job advertisements recover solidly in May to make a new high in the

current uptrend.

     "Despite somewhat mixed employment reports this year, we remain of the view

that Australia's labour market will remain solid through 2018. We expect

employment growth to be at pace consistent with a gradual decrease in the

unemployment rate," Plank said.

     From the ANZ job-advertisement survey for May:

                                May                      April

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

Job Ads (SA*, Change M/M)      +1.5  -0.3% (revised from -0.2)

Job Ads (SA*, Change Y/Y)    +11.5%                      +8.7%

Job Ads (Trend, Change M/M)   +0.4%                      +0.6%

Job Ads (Trend, Change Y/Y)  +10.1%                     +10.8%

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

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