Finance Finance News Rising job ads suggest demand for labour

Rising job ads suggest demand for labour

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Job advertisements have continued to rise, suggesting stronger labour demand and improving conditions in the job market.

Jobs ads rose 1.4 per cent in March, following a 4.7 per cent jump in February, according to ANZ’s monthly job ad series.

Internet job ads rose 1.3 per cent while newspaper ads bounced 4.5 per cent.

Advertising had risen for five consecutive months in trend terms, the report said.

ANZ chief economist Ivan Colhoun said there was now clearer evidence that labour demand was strengthening.

“Each of the main job ads/vacancies measures have risen this year, while some have been improving since the end of last year,” Mr Colhoun said.

Advertising had strengthened in key industries including construction, education and health, he said.

“This suggests the peak in the unemployment rate may be close, although the rate of improvement in job advertising does not suggest a rapid fall in the unemployment rate,” Mr Colhoun said.