Labour market conditions slowed down in December, with the number of job advertisements dropping after a rise for four consecutive months, according to ANZ.
The number of ads fell 1.9 per cent in December in seasonally adjusted terms, the first decline since since July. Despite this, job advertisements were still up by 3.7 per cent from a year earlier.
"This weakness is consistent with softer business conditions and corporate profitability," ANZ senior economist Jo Masters said.
"While a disappointing outcome, we see the labour market as losing some of its previously strong momentum, not stalling."
The ANZ's economists estimate the underlying trend is rising by 0.3 per cent a month, slowing from 0.4 per cent rise in November.
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Annual growth remained stable at 4.7 per cent in December.
"We continue to expect conditions in the labour market to support an ongoing, albeit gradual, decline in the unemployment rate this year," Ms Masters said.
