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ANZ Job Advertisements rose 1.3% in June

Monday, Jul 06 2015
Job advertisements on the internet and in newspapers rebounded in June, rising 1.3% following a 0.1% increase in May, ANZ seasonally-adjusted figures show. They were up 10.8% 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% in June, from 6.0% 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.
 
Data did not have any impact on the market with Aussie still in decline currently being traded around 0.7460 area. Pair is likely to find support around 0.7440 level and resistance above 0.75 handle. Later today, in the US session, ISM Non-Manufacturing PMI figures are scheduled for a release.
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