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Job ads rose for the second month in a row

Monday, Oct 05 2015
The number of job advertisements on the internet and in newspapers jumped 3.9 per cent in September, building on the 1.3 per cent gain made in August, seasonally adjusted, figures from ANZ show. Job ads in the 12 months to September were up 12.8 per cent.
 
ANZ chief economist Warren Hogan said while many non mining companies are reluctant to hire, demand for labour in a range of service industries has strengthened. "Activity in these industries has been supported by the sharp depreciation of the Australian dollar, which has redirected spending back towards the domestic economy, and by low interest rates, particularly through robust housing market activity and its flow on effects," he said.
 
"Hiring in the services sector also looks to have displayed some catch up over the past year or so following unusually weak outcomes." The strength of the services sector was backed up by other data out on Monday which showed that services sector is enjoying its longest period of expansion in seven years.
 
Aussie is currently being traded 0.7070 level. Pair is likely to find support around 0.7030 area and resistance above 0.7080 level. Later today, in the US session, Non-Manufacturing PMI figures are scheduled for a release.
More in this category: « USD - Major events in the week ahead Spanish and Italian Services PMI disappoints in September »

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