ANZ Job Advertisements at a three-and-a-half year high
Employer demand for staff is at a three-and-a-half year high, with more job gains tipped for the months ahead. The number of job ads on the internet and in newspapers rose one per cent in January, retracing a 0.1% decline in December. Job ads were up 10.8% on the same month a year ago, seasonally adjusted figures from ANZ show.
ANZ chief economist Warren Hogan said there'd been a broad upswing in hiring intentions since early 2014."Of the 25 monthly readings since January 2014, only five have been a contraction," he said. ANZ's Mr Hogan also expects further moderate employment gains in early 2016, which should be enough to keep the jobless rate stable. But he warned that it's unlikely the Australian economy will enjoy the same strong pace of jobs growth from last year.
"In 2015 total employment increased by 305,000, the second strongest year of job creation in the 21st century after 2006," Mr Hogan said. But mounting global economic and financial volatility and pressure on mining and manufacturing industries may weigh on businesses in 2016, he said. "Domestically the federal election may add political and policy uncertainty," he said.
Aussie is currently being traded around 0.71 area. Pair is likely to find support around 0.70 handle and resistance above 0.7150 level. There will be no major data releases in the rest of the session.
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