Economic data released yesterday shows signs that the domestic economy continues to flourish.
The labour market is particularly healthy, with the ANZ Jobs Advertisements series revealing a 7.1 per cent surge in job advertisements over the month of December.
This represented the strongest monthly increase since May 2007 and a 31 per cent increase from December 2006.
“The surge in the number of job advertisements in December indicates the demand for labour remains very strong,” ANZ chief economist Saul Eslake said.
“The forward nature of the relationship between the Job Advertisements series and employment suggests that employment growth will increase moderately over coming months. As a result, the current tight labour market conditions are expected to continue well into 2008,” he said.
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