(Australian Associated Press)
The Australian labour market is still strong despite September showing no increase in job advertisements, says the ANZ bank.
ANZ’s latest survey of job ads shows that the number of positions advertised in September was steady, at 180,700, after six straight months of increases.
The survey also shows that job ads were up 12.5 per cent from a year earlier, and up by around nine per cent since February.
“Some moderation in job ads is not too surprising after a solid six-month run,” ANZ senior economist Felicity Emmett said in a statement.
“In trend terms, job ads continue to rise, albeit at a slightly slower pace.”
Ms Emmett said employment had grown solidly over the past 11 months, and labour market strength was likely to continue.
“The strength in labour market conditions is consistent with elevated business conditions, which are at their highest point since the global financial crisis,” she said.
Ms Emmett said the recent fall in the underemployment rate prompted greater confidence that the labour market was tightening, which supported the Reserve Bank of Australia’s view that wages will eventually increase.