ANZ job ads begin to slow

Via ANZ:

KEY POINTS
 ANZ Job Advertisements rose 1.4% m/m in October, more than reversing the 0.7% decline previously. They now sit 12.5% higher than they did a year ago.
 In trend terms, job ads were up 0.5% m/m in October after a 0.7% rise the previous month. Annual trend growth eased slightly, from 12.4% in September to 12.2%.

ANZ’S HEAD OF AUSTRALIAN ECONOMICS, DAVID PLANK, COMMENTED
“The bounce in ANZ Australian Job Advertisements in October is consistent with elevated business conditions and capacity utilisation. The slight slowing in the month-on-month trend growth since August supports our view that employment growth is likely to moderate a touch after this extraordinary period of strength. We also note that the official employment data appears to overshot the level implied by ANZ Job Advertisements.

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About the author

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.