Job ads up by 2.7pc in June

A STRONG lift in job ads in June and improving business conditions suggests a positive outlook for the labour market, according to ANZ.

The bank’s latest survey, released yesterday, shows job ads have picked up momentum, rising by 2.7 per cent in June to 175,091. That compares with a 0.4 per cent lift in May.

The survey also showed that annual growth has im- proved, lifting 10.5 per cent in June, from 7.4 per cent a month earlier.

So far this year, job ads have risen by 4.9 per cent.

ANZ head of Australian economics David Plank said business conditions, profitability and capacity utilisation – putting existing workers to their best use – have been lifting or sitting at elevated levels for a good portion of the past 12 months.

“The strength of ANZ job ads over the first half of 2017 indicates this is translating into a positive outlook for the labour market,” Mr Plank said.

Official figures show that about 140,000 jobs were created over the three months to May, and the unemployment rate has fallen 5.5 per cent.

Mr Plank said the pace of job gains over the coming months should be closer to what is believed to be the true trend level – 15,000 to 20,000 jobs a month.