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Tuesday, 7 March 2017

Job ads consolidate after January spike

Jobs ads hold their ground

When figures are reported every month, sometimes they are higher than the previous month, and sometimes they are lower.

To make sense of the noise, a trend figure is often reported in addition to the seasonally adjusted result.

There was a big 4 per cent jump in job advertisements in January to a seasonally adjusted 167,164, the highest in years.

In that context the seasonally adjusted February result of 165,643 was still pretty good, consolidating the spike in the preceding month. 

The annual rate of growth was a very solid +6.9 per cent, according to ANZ's series

Source: ANZ

Such a rate of growth in job advertisements points to an unemployment rate that is likely to continue trending lower.

It's worth noting that the ANZ doesn't provide much texture - for example, there have been more part time jobs than full time jobs added in recent times. 

Nevertheless, ANZ reported that it sees a steadily improving labour market across the remainder of 2017.