Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 5 October 2015

Job ads biggest jump in 15 months

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Last week the ABS Job Vacancies series recorded New South Wales vacancies at an all-time high driven by positions in the services sector, which bodes well for Sydney employment growth.

Indeed, Sydney's economic dials have all been switched to hot for a long time now. 

Today ANZ released its job advertisements data for September which showed a seasonally adjusted +3.9 per cent jump following on from a +1.3 per cent lift in August. 

This was the strongest monthly gain in 15 months and the trend estimate has now been rising since November 2013.

ANZ noted that the series now appears to be stronger than had previously been thought, and that the economy seems to be adjusting relatively well to the decline in mining investment.

In other news the FCAI reported that an all-time record 1,143,104 new motor vehicle vehicles for the year to September after a +6.8 per cent year-on-year jump in the month.

With the services PMI gauge also recording a fourth month of expansion for the first time since March 2008 (following on from a 7 year high reading last month), interest rates will be left on hold this week.