Job ads rebound in June

The number of job advertisements on the internet and in newspapers rose by 1.3 per cent in June after a flat result in May.

CareerOne jobs advertisements

The number of job advertisements on the internet and in newspapers rose by 1.3 per cent in June. (AAP)

A pickup in jobs growth is set to come to an end amid downward pressure on employment in mining and manufacturing.

Job advertisements on the internet and in newspapers rebounded in June, rising 1.3 per cent, following a flat result in May, ANZ seasonally-adjusted figures show.

They were up 10.8 per cent in the 12 months to June.

But ANZ chief economist Warren Hogan predicted jobs growth wouldn't remain as strong as it has been so far this year amid "below-trend growth in economic activity".

"Significant job losses are still forthcoming as several large resource projects are completed," he said.

"We expect to see the first signs of softer labour market conditions in this week's official employment figures."

Economists expect the latest workforce figures from the Australian Bureau of Statistics will show the jobless rate rose to 6.1 per cent in June, from 6.0 per cent in May.

Due to this, Mr Hogan said, ANZ expects the Reserve Bank to keep the cash rate at its "very accommodative" setting for some time, but to maintain a mild easing bias.


Share

1 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

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

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world