Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Job ad strength suggests economic recovery

08 December 2009 Reporter

The total number of jobs advertised in the major metropolitan newspapers and on the internet rose by 5.2 per cent in November, the latest ANZ Job Advertisements Series has revealed.

The rise in job advertisements follows a 1.7 per cent drop in October.

Despite the recent increase, the total number of advertisements in November was still 34.2 per cent lower than 12 months earlier.

According to ANZ’s acting chief economist Warren Hogan, the 5.2 per cent growth suggests total job advertisements are now well past their trough point, with four months of trend growth recorded since July.

“The 8.3 per cent lift in newspaper job advertising in November is particularly encouraging, given that this sector tends to ‘lead’ overall job advertising trends. Eventually the improvement in job advertising will translate into higher employment growth,” Mr Hogan said.

“The recent strength in job advertising is consistent with the positive trends seen in many other indicators across the Australian economy. Taken together, these data imply that Australia’s recovery from the recent downturn is gathering pace.

"Employment growth is also now trending upwards, after contracting through the first half of 2009. The unemployment rate appears to have stabilised in the high ‘fives’. This is good news for households and businesses alike, but net jobs growth remains weak by historical standards, with considerable volatility in recent monthly jobs growth.”

Job ad strength suggests economic recovery
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.