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REPEAT:MNI:Australia ANZ Job Ads Dn But Points To Jobs Growth 

Repeats Story Initially Transmitted at 01:30 GMT May 7/21:30 EST May 6
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
[TOPICS: MTABLE]
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