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Job ads have fallen slightly for the fourth consecutive month, a further indication that an interest rate cut could be on the way.
According to the ANZ, declining trends for job advertising have historically been consistent with rising unemployment and declining interest rates, though the trend to date is quite modest.
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The Job Advertisements Series, released yesterday, revealed the number of jobs advertised in major metropolitan newspapers and on the internet decreased by 0.7 per cent in July to an average of 187,150 per week.
The total number of job advertisements is 49 per cent below the all-time peak recorded in April 2008.
ANZ head of Australian economics and property research Ivan Colhoun said global financial market developments are likely to dominate market pricing relative to the publication of Australian economic releases in the near term.
