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The number of jobs advertised in newspapers and online declined 1.1 per cent in July, according to new research.
ANZ’s job advertisements series recorded its fifth consecutive monthly fall in July, leaving the series at around 18 per cent below corresponding levels last year.
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The bank's Australian chief economist Ivan Colhoun said the 1.1 per cent decline in July was likely slightly overstated due to continuing structural changes in the job advertising market – the most significant of which was MyCareer, the job search site of the Fairfax Group, which began offering free job advertisements from July 1 this year.
“This had a noticeable effect on newspaper job advertisements in The Sydney Morning Herald and The Age newspapers in the month and contributed to large seasonally-adjusted declines in newspaper advertising in both NSW and Victoria,” Mr Colhoun said.
The structural shift was also evident across competing newspapers.
“There was no noticeable impact on advertising volumes in either the NSW Daily Telegraph or the Victorian Herald Sun, the other newspapers included in the ANZ job ads count for these states,” Mr Colhoun said.
Excluding these structural changes the most significant development remains the continuing weakness in Western Australia’s job advertising market.
The 4.2 per cent decline in July was driven by the continuing softening demand for labour in the resources sector.
“Job advertising in WA is now nearly 45 per cent below the levels of a year ago, consistent with weaker demand for labour in the mining sector,” said Mr Colhoun.
The Australian Bureau of Statistics will release the July labour market report on Thursday.
