The job advertisements in Australia rose to 1.0% in October on seasonally adjusted terms, reaching 161,499. The the annual increase in the job ads is 3.8% for the last 12 months. The growth of the indicator shows about increased demand of employees, which is creating high competitiveness on the market. The number of job advertisements is consistent with the moderate pace of economic growth, as well as above average business and consumer sentiment.
The survey for the job advertisements is Australia is prepared by the ANZ Bank and Department of Education’s Australian JobSearch division. According to the economists working on the survey, the labor market will continue to improve at a gradual pace, while the unemployment rates will remain at downtrend. The Australian economic growth is strongly supported by the low interest rates, stable political environment and good business conditions.
“The excess capacity in the labour market is likely to continue to weigh on wage growth over the medium term”, said head of Australian economics at ANZ, Felicity Emmett. “While the unemployment rate has fallen from a recent peak of 6.3%, under-utilization remains high by historical standards, suggesting that there remains a considerable amount of spare capacity in the labor market”, added she.
The country is continue with its steady economic growth, but the world’s economy delay and low price of commodities, definitely can harm the uptrend of the economy and push the Reserve Bank of Australia to lower additionally interest rates to support financing and consumer demand.
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