The Australian economy continues to go from strength to strength, with the number of total job advertisements increasing by 2.6 per cent in August.
According to the latest ANZ Job Advertisement Series, monthly job advertisements are now 36.1 per cent higher than this time last year – just short of the historic 40.2 per cent growth rate achieved in May 2007.
ANZ chief economist Warren Hogan said the solid rise in total job advertisements disguises some sharp disparities in the performance of different States and Territories.
“There were some big monthly rises in job advertisements in the Northern Territory, New South Wales and Queensland. Tasmanian job advertisements were also slightly higher,” Mr Hogan said.
“This helped to offset falls in job advertisements in the ACT, South Australia, Western Australia and Victoria. We expect regional disparities in job advertisements to persist in the coming period, with the resource states of Western Australia, Queensland and potentially New South Wales likely to outperform.”
According to Mr Hogan, the national pick-up in advertisements suggests Australian businesses are confident about the outlook despite the uncertain global economic environment.
“We expect these positive employment intentions will translate into solid employment growth, of an average of at least 25,000 persons per month, in the short-term.”
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