Slight rise in job ads

EMPLOYMENT growth is likely to continue despite a slowdown in the rate of growth in job advertisement numbers, economists say.

ANZ’s latest job advertisement survey shows the number of ads edged 0.4 per cent higher in May, following a solid 1.5 per cent rise in April.

But the annualised growth rate slipped from 10.1 per cent in April to 7.4 per cent in May.

“Despite the moderation in May, job advertisements indicate that employment growth is likely to continue over the coming months,” ANZ’s head of Australian economics David Plank said.

If the labour market faltered then the prospect of further RBA rate cuts would increase significantly, he said.