Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Job advertisements hit by rate rise

Staff Reporter 4 minute read

By: Staff Reporter

The RBA’s rate hikes are finally starting to impact the community, with the total number of jobs advertised in the major metropolitan newspapers and on the internet falling by 1.2 per cent in April.

According to the latest ANZ Job Advertisements Series, the modest fall in advertisements is the first drop since January.

The Series showed that the total number of advertisements in April is now 42.3 per cent below the all time peak reached in April 2008.

Advertisement
Advertisement

ANZ head of economics Warren Hogan said the decline in job advertisements in April is not surprising in the wake of the RBA’s successive rate hikes.

“In addition, some slowing in demand for labour is to be expected after very strong growth in the second half of 2009 and into early 2010,” Mr Hogan said.

But despite the recent slow-down in growth figures, Mr Hogan said trend growth in job advertisements remains above its long-term average, suggesting that demand for labour remains relatively healthy.

“Total employment in the Australian economy reached a record 11 million in March 2010. Over the past six months the balance of job growth has shifted toward more full-time employment. This is a possible indication that employers are gaining confidence that the recovery in the Australian economy is getting traction,” he said.

ANZ expects there to be a slight uptick in employment when the ABS releases the Labour Force report on Thursday.

PROMOTED CONTENT


Job advertisements hit by rate rise
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news MyState names banking general manager

A former broker head has returned to MyState Bank, to tackle turn...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...