SKIP TO MAIN CONTENT

Job ads hit three-and-a-half year high

Job ads are at the highest level since July 2012, with more job gains expected in the coming months, figures from ANZ show.

Employment advertising in a newspaper in Sydney
The number of job advertisements have risen, figures from ANZ show. (AAP)

2 min read

Published

Updated

Source: AAP


Skip to article content

Employer demand for staff is at a three-and-a-half year high, with more job gains tipped for the months ahead.

The number of job ads on the internet and in newspapers rose one per cent in January, retracing a 0.1 per cent decline in December.

Job ads were up 10.8 per cent on the same month a year ago, seasonally adjusted figures from ANZ show.

ANZ chief economist Warren Hogan said there'd been a broad upswing in hiring intentions since early 2014.

"Of the 25 monthly readings since January 2014, only five have been a contraction," he said.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

CommSec chief economist Craig James says job ads are now at the highest level since July 2012.

"The job market continues to strengthen, underpinned by the low growth of labour costs and firm demand for workers across the services sector," he said.

This makes future interest rate cuts less likely, he said.

Mr James said this latest lift in job ads will most likely be reflected in higher employment in the next five to six months.

ANZ's Mr Hogan also expects further moderate employment gains in early 2016, which should be enough to keep the jobless rate stable.

But he warned that it's unlikely the Australian economy will enjoy the same strong pace of jobs growth from last year.

"In 2015 total employment increased by 305,000, the second strongest year of job creation in the 21st century after 2006," Mr Hogan said.

But mounting global economic and financial volatility and pressure on mining and manufacturing industries may weigh on businesses in 2016, he said.

"Domestically the federal election may add political and policy uncertainty," he said.

Mr James said newspaper advertisements fell to the lowest level since records began in 1975.

"Clearly, the practice of advertising new positions in newspapers is in its death throes," he said.


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world