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Australian job ads rose by 2.4%

Monday, Jun 06 2016
Employer demand for more staff is finally picking up pace, with the number of job advertisements spiking in May after stalling for six months. Job ads on the internet and in newspapers rose sharply, by 2.4 per cent, in May and were up 9.1 per cent for the year, figures from ANZ show.
ANZ head of Australian economics Felicity Emmett says the economy is chugging along quite well and the transition to non-mining activity is gaining traction. "The rise in job ads is consistent with the strength in business conditions, which point to ongoing solid growth in the economy," she said.
 
Ms Emmett said the strong first quarter national GDP report, released by the Australian Bureau of Statistics last week, shows that the housing and services industries are doing the heavy lifting as the mining boom fades."These sectors are also clearly helping to support jobs growth," she said.
 
Aussie is currently being traded few points above 0.7330 level. Pair is likely to find support around 0.7280 handle and resistance above 0.7370 level. There will be no major data releases later today.
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