Job ads up in August

Job ads up in August

08 September 2009 by Staff Reporter 0 comments

An increase in job advertising last month is further evidence for agents that the Australian economy is on the road to recovery.

The total number of jobs advertised in the major metropolitan newspapers and on the internet has risen for the first time since April 2008, the latest ANZ Job Advertisements Series has revealed.

According to the Series, total advertisements grew 4.1 per cent in August to a weekly average of 130,326 per week.

The rise in advertisements follows a 1.7 per cent drop in July.

Even with the rise however, the total number of job advertisements in August was still 48.1 per cent lower than 12 months earlier.

According to ANZ acting chief economist Warren Hogan, employment is expected to fall by around 15,000 in August – which should force the unemployment rate to rise to 6 per cent.

“While we do expect the unemployment rate to rise, these numbers confirm our optimism that the pace of decline in employment will not be as severe as envisaged six months ago,” Mr Hogan said.

“We now expect the Australian unemployment rate to peak at around 7.25 per cent in mid 2010.”

An increase in job advertising last month is further evidence for agents that the Australian economy is on the road to recovery.

The total number of jobs advertised in the major metropolitan newspapers and on the internet has risen for the first time since April 2008, the latest ANZ Job Advertisements Series has revealed.

According to the Series, total advertisements grew 4.1 per cent in August to a weekly average of 130,326 per week.

The rise in advertisements follows a 1.7 per cent drop in July.

Even with the rise however, the total number of job advertisements in August was still 48.1 per cent lower than 12 months earlier.

According to ANZ acting chief economist Warren Hogan, employment is expected to fall by around 15,000 in August – which should force the unemployment rate to rise to 6 per cent.

“While we do expect the unemployment rate to rise, these numbers confirm our optimism that the pace of decline in employment will not be as severe as envisaged six months ago,” Mr Hogan said.

“We now expect the Australian unemployment rate to peak at around 7.25 per cent in mid 2010.”

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?