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Anz Job Advertisements rose for the eighth consecutive month

Monday, Feb 09 2015
Anz Job Advertisements rose 1.3% in January, and are now 10% higher than they were a year ago. This was eighth consecutive month of increase.The bank said the more stable trend figure has now been going up for 15 months.Internet job ads were up 1.5% last month, more than offsetting a 6.7% decline in newspaper ads. Newspaper job ads now make up an insignificant 3% of the total number of ads. ever, the newspaper ads are the only ones broken down by ANZ into regions, and show NSW to be leading the nation's jobs market.
 
"The relative strength of NSW job ads stands out, and is consistent with other indicators highlighting the state's outperformance," noted ANZ's chief economist Warren Hogan in the report. "A gap between job ads and the official data remains, however, most likely reflecting a higher rate of retrenchments in industries such as manufacturing and resources, which suggests that overall labour demand is struggling to keep pace with the flow of new workers into the economy," he said.  "We do not expect a significant change in this dynamic amidst below trend economic growth outcomes, with a further rise in the unemployment rate to 6½ per cent through 2015."
 
After the data Aussie rebounded and is currently being traded slightly below 0.78 handle. With no major data releases from the USA rest of the session should be a steadier one. Pair is likely to find support around 0.7750 and resistance above 0.7830 area.
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