Job advertisements falls for the sixth month

Job advertisements falls for the sixth monthAccording to the latest data available, job advertisements have fallen for the sixth month due to continuing uncertainty in the global economy and the outlook on the mining boom in the country.

The monthly ANZ Job Ads survey showed that number of job advertisements fell 2.8 per cent in September, continuing the fall from the last five months. The data showed that the job numbers fell 10.8 per cent compared to the same month in the previous year. The total job ad numbers is the lowest since January 2010.

ANZ head of Australian economics and property research Ivan Colhoun said that the factors such as project delays and cancellations in mining states of WA and Queensland and lower commodity prices have caused a slowdown in job advertisements. He said that the figure suggests a weakening labor market and more information will be available after the official job figures are revealed on Thursday.

"When this last occurred, in the second half of 2011, Australian employment growth slowed. Given the evidence of a mild contraction in labour hiring intentions across Australia, we expect the labour market to continue to soften, and for the unemployment rate to drift higher in coming months," Colhoun said in a statement.