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Anz Job Advertisements rose for the ninth consecutive month

Monday, Mar 09 2015
Anz job advertisements rose by 0.9% in February. The internet rose 0.7% in February, while those in newspapers enjoyed a rare bounce of 8.1%. Newspaper ads have been in decline for some years and account for only a fraction of total ads. "Job advertisements remain on a moderate upward trend, suggesting that labour demand is holding up across certain sectors of the Australian economy," said ANZ chief economist Warren Hogan.
 
However, Mr Hogan said employment growth was still failing to keep up with rapid growth in the working population, leading to a gradual increase in the unemployment rate. "The tepid outlook for economic growth and expectations of a further rise in unemployment continue to suggest that further monetary policy easing is necessary," added Mr Hogan.
 
Despite the increase, Aussie broke lower and is currently being traded slightly below 0.77 handle. Pair is likely to find support around 0.7650 and resistance above 0.7750 area. Later today, there will be no major data releases so we can expect steadier rest of the session.
More in this category: « USD - Major events in the week ahead Aussie little changed in a steadier beginning of the week »

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