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Job ads fell by 0.4%, ANZ's survey showed

Monday, Aug 03 2015
The number of jobs advertised on the internet and in newspapers has fallen, the ANZ's monthly data shows. The number of job ads fell 0.4% in seasonally adjusted terms between June and July. Ads were still 9.3% higher than a year earlier, but ANZ chief economist Warren Hogan said the trend had slowed in recent months.
 
The ANZ's trend measure of job ads, which smooths out the ups and downs in the seasonally adjusted figures, grew by 0.4% in July.That was only a third of its 1.2% per monthly growth rate seen at the recent peak in September and October last year. "The slower growth in job advertising supports our view that employment growth will slow in the second half of 2015 following unexpectedly strong outcomes since late 2014," Mr Hogan said.
 
Despite the strong jobs growth, total household income has grown only modestly, because the jobs being created in the services sector are paid significantly less than the jobs lost in mining manufacturing industries. "As a result, growth in household spending has remained sluggish," Mr Hogan said.That in turn will act as a headwind to economic activity and hiring.
 
Data was of no major impact on Aussie which is currently being traded few points below 0.73 handle. Pair is likely to find support around 0.7250 level and resistance above 0.7350 area. In the US session. ISM Manufacturing PMI figures are scheduled for a release.
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