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MAKING NEWS
Sun, 14 June 2009
Job ads fall for 13th month in May - ANZ survey
JOB advertisements fell for the 13th straight month in May and declined by about half over the year, a survey shows.
The ANZ survey released today found the total number of jobs advertised in in newspapers and on the internet fell 0.2 per cent, seasonally adjusted, in May to an average of 136,457 per week.
Job ads also declined by 49.9 per cent over the year, suggesting total employment in Australia would contract over the year ahead, ANZ head of Australian economics Warren Hogan said.
"Job advertising has fallen to about half the level it was at a year ago and is consistent with outright declines in the level of employment in Australia over the second half of 2009,'' he said.
"We expect these falls in employment to start coming through in the official statistics at anytime.
"Overall job advertising remains weak and is consistent with rising unemployment over the year ahead.''
ANZ expects unemployment to breach six per cent in 2009 before eventually peaking at more than eight per cent in 2010.
The bank is forecasting a 29,000 rise in unemployment with the release of the Australian Bureau of Statistics (ABS) May Labour Force report on Thursday. The median market forecast is for unemployment to rise 0.3 percentage points to 5.7 per cent in May, with a loss of 30,000 jobs during the month.
The number of job advertisements in major metropolitan newspapers decreased by 1 per cent in May to an average of 8123 per week, following a 3.1 per cent gain in April.
Newspaper advertisements are now 52.5 per cent lower than in May 2008.
In trend terms, the number of newspaper job advertisements fell by 4.1 per cent in May to be 55.6 per cent lower than a year ago.
The fall in newspaper job advertisements in May was driven by decreases in most states and territories, the survey found.
The largest falls in percentage terms were in Queensland 4.9 per cent, the Northern Territory (4.5 per cent) and New South Wales (1.5 per cent).
Western Australia fell 0.8 per cent, Victoria fell 0.4 per cent and the ACT dropped 0.1 per cent.
Tasmania and South Australia were the only two states to record increases, up 12.5 per cent and 7.8 per cent respectively.
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