Pete Wargent blogspot

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

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Monday, 5 September 2016

Jobs ads up 8pc over the year

ANZ: Unemployment to keep falling

Job advertisements continue their long, slow recovery, up by +1.8 per cent in August to be +8 per cent higher over the year.

The trend number of job advertisements has ground gradually higher for the past three years.

This suggests that annual employment growth should track at around 2 per cent - well ahead of the annual rate of population growth - and that the unemployment rate will continue to fall, as it already has from 6.3 per cent to 5.7 per cent. 


ANZ reported that this was an encouraging result, consistent with solid employment growth, declining unemployment, and ongoing strength in business conditions.

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The ABS Business Indicators for the June quarter were released today with surprisingly solid results for company gross operating profits (ex-mining), and for inventories. 

Real sales lifted to +3.5 per cent over the year to June, which is the strongest annual result since the financial crisis.

Inventories will tip in about +0.25ppts to GDP growth in the second quarter, suggesting that we could see a fair headline result for GDP growth. 

On Wednesday the ABS will report that the Australian economy has notched up a remarkable 100 quarters since the last recession.