Interpac Business and Migration Solutions Melbourne Australia

(May 10th, 2010)

THE total number of jobs advertised online and in newspapers fell for the first time in three months in April, as interest rate rises and slowing demand sapped momentum from the growing jobs market, a survey shows.

The ANZ Job Advertisements series showed a 1.2 per cent fall, seasonally adjusted, in total job advertisements to an average of 160,660 a week in April, the series' first decline since January.

The series is 14.9 per cent higher than it was in April, 2009, however, making it the fastest annual growth since the corresponding point in 2008.

"The modest decline in job advertisements in April is not surprising in the wake of two successive rate hikes from the RBA,'' ANZ chief economist Warren Hogan said.

"In addition, some slowing in demand for labour is to be expected after very strong growth in the second half of 2009 and into early 2010.''

Mr Hogan said while there has been some slowing in the monthly growth figures in recent months, trend growth in job advertisements was still above its long-term average.

"(It suggests) that demand for labour remains relatively healthy,'' he said.

In trend terms, total job ads growth softened to 2.6 per cent in April, from 3.1 per cent in March.

In annual terms, trend growth is running at 14 per cent, its fastest pace recorded since April 2008.

The number of jobs advertised in major metropolitan newspapers fell by a seasonally adjusted 0.7 per cent in April, but were 17.6 per cent higher than a year ago.

In trend terms, the number of newspaper job advertisements grew by 0.4 per cent in the month and 19 per cent in the year to April.

The number of newspaper job advertisements improved in April in the Northern Territory, Queensland and the ACT, but fell elsewhere.

The Northern Territory and Western Australia were well ahead of the pack in annual growth terms, the survey said.

The number of internet job advertisements fell 1.3 per cent in the month, returning their first monthly fall since January.

They are growing at their fastest annual pace of 14.7 per cent since April 2008, however. In trend terms, internet job advertisements grew by 2.8 per cent in the month and 13.7 per cent in the year to April.

The Reserve Bank lifted the cash rate by 25 basis points each in March and April, to its current level at 4.25 per cent.

The decisions followed three 25 basis point rate rises in late 2010.

The Australian bureau of Statistics is scheduled to publish its April labour Force report on Thursday.

ANZ exects that report to show jobs growth of around 15,000 in the month and the unemployment rate to remain at 5.3 per cent for the fourth straight month.

(Source:theage.com)