Australia: Job Ads Ease Again

The total number of jobs advertised in newspapers and on the internet declined by 0.7 percent in March to an average of 267,041 per week. This follows a 2.1 percent fall in February. The total number of advertisements in March remains 20.8 percent higher than 12 months ago.
Looking at the different channels for advertising jobs, the number of job ads in newspapers dropped by 10.5 percent in March to an average of 17,115 per week, the lowest number since October 1993. This followed a 0.1 percent drop in February. In trend terms, the number of newspaper job advertisements fell by 3.0 percent, to be 8.7 percent lower than a year ago.
The weakness in newspaper job advertisements in March was reflected in every state. New South Wales (-4.7%), Victoria (-6.2%), Queensland (-6.4%), South Australia (-10%), Western Australia (-7.2%), Tasmania (-13.3%) and the Australian Capital Territory (-10.4%) all experienced falls. The Northern Territory (-31.1%) experienced its largest monthly fall on record. In New South Wales, the number of newspaper job advertisements (4,835) is the lowest since December 1983, while in Victoria (3,750) the level is at its lowest since June 1993.
The number of internet job ads increased marginally by 0.1 percent in March to average 249,926 per week. In trend terms, internet job advertisements increased by 0.6 percent to be 24.1 percent higher than a year ago.
ANZ Head of Australian Economics, Mr Tony Pearson, said: “Total job advertisements have fallen for two months in seasonally adjusted terms. Trend monthly growth, which is a more reliable guide to movements in employment, has now been declining for four months and is at its lowest level since mid 2003. It is beginning to look as if employers’ demand for new recruits now waning after an extended period of very strong demand for labour. This is consistent with other indicators of economic activity which suggest domestic demand is now in the process of moderating under the weight of higher interest rates, lower share prices, and heightened concerns over decelerating global growth and global financial strains.”
“By region, signs of easing are now apparent in all states and territories with the strongest declines evident in Western Australia and Queensland,” Mr Pearson said.