Pos­i­tive mood as job ads rise

Townsville Bulletin - - NEWS -

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

ANZ’s lat­est sur­vey shows job ads pick­ing up mo­men­tum, ris­ing by 2.7 per cent in June to 175,091 com­pared to a 0.4 per cent lift in May.

The sur­vey also shows an­nual growth has im­proved, lift­ing 10.5 per cent in June, from 7.4 per cent the pre­vi­ous month.

Since the start of 2017, job ads have risen by 4.9 per cent.

ANZ’s head of Aus­tralian eco­nom­ics David Plank says busi­ness con­di­tions, prof­itabil­ity and ca­pac­ity util­i­sa­tion have been lift­ing or sit­ting at el­e­vated levels for a good por­tion of the past 12 months. FAIR­FAX Me­dia will push ahead with plans to spin off its lu­cra­tive prop­erty por­tal Do­main af­ter two suit­ors with­drew their takeover in­ter­ests in the com­pany.

The me­dia group, which owns metro news­pa­pers and ra­dio net­works, also an­nounced that its over­all rev­enue had fallen 6 per cent in the sec­ond half of the fi­nan­cial year.

In­vestors trig­gered a sharp fall in Fair­fax’s shares which were down more than 10 per cent to 98.75¢ yes­ter­day – their low­est level since mid- March.

Fair­fax said pri­vate eq­uity groups TPG and Hell­man & Fried­man pulled out due to the com­plex busi­ness model.

Chair­man Nick Fal­loon said Fair­fax talked with TPG af­ter re­ceiv­ing a letter from Hell­man & Fried­man on Fri­day say­ing it would not make a bid.

POS­I­TIVE RE­SULT: PVW part­ners Carl Valen­tine, An­drew White­head and Greg Peel.

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