ANZ Australian Job Ads May

KEY POINTS

• ANZ Australian Job Advertisements bounced 1.5% in May more than reversing the cumulative 0.7% fall over the previous three months. On an annual basis, growth picked up from 8.7% in April to 11.5% in May.
  
• In trend terms, Job Ads were up 0.4% in May, following a 0.6% rise in the previous month. 

ANZ’S HEAD OF AUSTRALIAN ECONOMICS, DAVID PLANK,  COMMENTED:

 “After a strong gain in January, ANZ Job Ads eased slightly in the next three months alongside a loss of momentum in employment. It is therefore quite encouraging to see Job Ads recover solidly in May to make a new high in the current uptrend.

At the same time, other forward indicators of the labour market remain positive. Business conditions, profitability and capacity utilisation are all either at or near record levels. As a consequence, despite somewhat mixed employment reports this year, we remain of the view that Australia’s labour market will remain solid through 2018. We expect employment growth to be at pace consistent with a gradual decrease in the unemployment rate.”

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