The number of job advertisements on the internet and in newspapers fell 1.2% in June after falling 2.6% in May (previously reported as a 2.4% fall). Advertisements were 4.6% below the level in March. In trend terms, total job advertisements have fallen 0.5% m/m in June.
• The number of job advertisements in newspapers fell 3.3% in June, led by falls in advertising in Victoria, Queensland and Western Australia. Encouragingly, newspaper advertising has risen for three consecutive months in trend terms in New South Wales and South Australia.
• The number of internet job advertisements fell 1.1% in June, after falling 2.6% in May. Internet job advertisements were 8.5% below year earlier levels in June and have now fallen for three consecutive months.
Not calamitous but rapidly approaching the levels of last year associated with a climbing unemployment rate.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
