Fall in job ads shows economy still weak

The number of job advertised in major newspapers and online fell by 1.7 percent in October, showing that the Australian economy is still vulnerable.

The ANZ’s monthly job ads survey shows the number of jobs advertised online and in newspapers fell for the first time since July. Overall job ads totalled 133,709 in the month, down from 136,070 in September, with newspaper job ads falling by 1.4 per cent and internet job ads declining by 1.8 per cent.

ANZ acting chief economist Warren Hogan said the results indicate the Australian economy is still in a very vulnerable position.

“These results suggest that the economy remains soft and is only at an early stage of recovery,” he said.

Official labour force figures to be released this Thursday are expected to show 10,000 more jobs were lost in October, taking the unemployment rate from 5.7 to 5.8 percent.

The number of job advertised in major newspapers and online fell by 1.7 percent in October, showing that the Australian economy is still vulnerable.

The ANZ’s monthly job ads survey shows the number of jobs advertised online and in newspapers fell for the first time since July. Overall job ads totalled 133,709 in the month, down from 136,070 in September, with newspaper job ads falling by 1.4 percent and internet job ads declining by 1.8 percent.

ANZ acting chief economist Warren Hogan said the results indicate the Australian economy is still in a very vulnerable position.

“These results suggest that the economy remains soft and is only at an early stage of recovery,” he said.

Official labour force figures to be released this Thursday are expected to show 10,000 more jobs were lost in October, taking the unemployment rate from 5.7 to 5.8 percent.

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