From ANZ:
The number of job advertisements on the internet and in newspapers fell 4.6% in October, following a revised decline of 3.9% in September. This was the seventh consecutive monthly decline. Job advertisements are now 15% below levels seen in October last year. In trend terms, job advertisements declined 2.2% m/m in October.
• The number of job advertisements in newspapers declined 4.1% in October. Newspaper job advertising contracted in all states and the ACT in October and was particularly weak in Victoria, Western Australia and the ACT. The Northern Territory recorded a sharp increase of 41.7% in October, although job advertisements in this state are typically very volatile. After declining in August and September – when some significant public sector job cuts were made – newspaper job advertisements in Queensland declined only modestly in October. The trend for newspaper job advertising is in decline for all states and territories except for the Northern Territory.
• The number of internet job advertisements fell 4.6% in October after falling 3.9% in September. Total internet job advertisements were 14.4% below year-earlier levels.
And the charts:
Unemployment is going to rise on these figures and fairly quickly too. This is another release in favour of a rate cut tomorrow.
