Job advertisements continued to rise in August in Australia, following a trend which is at odds with the unemployment rate.
The relevant job ads ANZ index rose 1.5 per cent in August. So far over 2014, it has risen 8 per cent.
Unemployment, on the other hand, was 6.4 per cent in July, up from 6 per cent at the start of the year.
Internet job ads – representing 95 per cent of the index – rose 1.4 per cent. Newspaper job ads rose 1.8 per cent after two months of declines.
“Recent trends in job advertising are consistent with a gradual turnaround in the labour market,” said ANZ chief economist Warren Hogan, but he went on to say that unemployment will remain slightly above 6 per cent for a few quarters.
Source: Fairfax Media