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Job advertisements have soared in December, adding to signs that the economy is strengthening.
According to ANZ’s Job Advertisement Series, the total number of job listings rose by 6 per cent last month, following a 5.2 per cent increase in November.
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Total job advertisements are now 19.1 per cent higher than the cyclical trough recorded in July 2009, but remain 22.6 per cent lower than in December 2008.
ANZ acting chief economist Warren Hogan said the upturn in job listings was a positive sign for the economy and highlighted the “mildness of the downturn Australia experienced over the past 18 months.”
“Total job advertisements are now well past the low reached in July 2009 and are continuing to improve month on month,” Mr Hogan said.
“This is already translating into employment growth and helping to keep the unemployment rate relatively stable, despite accelerating population and labour force growth.
“In the near term, the forward indicators appear positive for some solid employment growth in December and over the summer months, although probably at a slower pace than seen in the past three months.
“ANZ is expecting a further increase in net employment of 30,000 in the month (seasonally adjusted). This would keep pace with population and labour force growth and help hold the unemployment rate stable at around 5.7 per cent.”
