Pete Wargent blogspot

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

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Monday, 9 February 2015

ANZ job ads +10 percent y/y

Job adverts trending up

A tentative tick for the ANZ job advertisements release with another 1.3 percent increase in January 2015, to be up 10 percent on a year ago.

The less volatile "trend estimate" series has now risen for 15 months which bodes reasonably well for labour markets.

The detailed newspaper adverts figures by state show that New South Wales is surely leading the way in terms of employment growth.

That said, the "original" data series spiked down in January so much more compelling evidence than this is awaited from this media release series.

Most forecasters still expect the headline unemployment rate to tick up to 6.5 percent, which is why so many economists expect at least one more interest rate cut this year (and some see two).

If Australia is expecting to see 220,000 to 240,000 new arrivals per annum over the next 50 years, then more robust jobs growth is needed.