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Staff Reporter
The number of jobs advertised in metropolitan newspapers and on the internet rose 1.2 per cent in December, giving further weight for the RBA to lift rates sooner rather than later.
According to the latest ANZ Job Advertisement Series, the number of jobs being advertised on the internet and in newspapers is now 19.3 per cent higher than it was in February 2010.
While flooding significantly reduced newspaper advertising in Queensland in January, the effect was more than reversed in February with newspaper job advertising rising 30.5 per cent in the month.
This suggests the clean-up after the floods may have boosted labour demand in Queensland over and above the pre-existing trend, ANZ head of Australian economics and property research Ivan Colhoun said.
Mr Colhoun also said that the overall rise in job advertising suggests the Australian economy is making forward progress in spite of somewhat mixed performance across a number of sectors.
“This diverse performance makes indicators, such as employment and job advertising, even more important to monitor given the mixed messages of indicators such as retail sales and mining investment,” he said.
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