The last month of 2017 saw significantly fewer jobs advertised in Australia than its preceding months, and the same time the previous year.

Figures released in ANZ’s survey of job ads revealed there had been a 2.3 per cent decline, with just 167,656 positions advertised in December.

Despite consistent month-to-month growth throughout the year, jobs advertised slowed right down to an annual low of 0.3% at the end of the year.

Volatility in the market and strong employment growth could explain the unwinding, according to ANZ head of Australian economics David Plank.

The last month of 2017 saw significantly fewer jobs advertised in Australia than its preceding months, with just 167,656 positions advertised

The last month of 2017 saw significantly fewer jobs advertised in Australia than its preceding months, with just 167,656 positions advertised

‘The labour market in 2017 was characterised by widespread job growth, an increase in participation and a fall in the unemployment rate to a four-year low of 5.4%,’ Mr Plank told Macro Business.  

‘As such, the fall in job ads in December might be a source of concern. There can be considerable volatility around this time of year.’

Mr Plank said it was possible the decrease could serve as a warning sign for a slow-down in employment in coming months.

It comes as experts are predicting major job cuts within Australia’s big four banks in the early part of the year, and NAB has already got the ball rolling.

Figures released in ANZ's survey of job ads revealed there had been a 2.3 per cent decline in advertisements in December 

Figures released in ANZ's survey of job ads revealed there had been a 2.3 per cent decline in advertisements in December 

Figures released in ANZ’s survey of job ads revealed there had been a 2.3 per cent decline in advertisements in December 

Up to 6000 people would be losing their job at the bank, in favour of 2000 digital jobs being created.

Mr Plank said that after 14 months of straight growth, employment had ‘overshot the levels implied by job ads’, meaning a period of moderate job growth was imminent. 

Comparatively, job advertisements grew by 11.4 per cent in 2017, while the unemployment rate stayed stable at 5.4 per cent. 

‘Despite this, our assessment of economic conditions suggests a continued improvement in labour market conditions over 2018, albeit at a slower pace.’ Mr Plank said.    

Mr Plank said that after 14 months of straight growth, employment had 'overshot the levels implied by job ads', meaning a period of moderate job growth was imminent

Mr Plank said that after 14 months of straight growth, employment had 'overshot the levels implied by job ads', meaning a period of moderate job growth was imminent

Mr Plank said that after 14 months of straight growth, employment had ‘overshot the levels implied by job ads’, meaning a period of moderate job growth was imminent

 

 





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