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Job ads grow for fourth straight month: ANZ

Job ads grow for fourth straight month: ANZ

Job advertisements increased by 2.6% in August, during the fourth straight month of growth, according to ANZ.

The increase in job ads online and in newspapers brings the year-on-year growth to 36.1%, just four percentage points lower than the historic 40.2% year-on-year growth rate from May 2007, ANZ said.

But the total number of ads is 36.6% below the all-time high in April 2008.

Online job advertisements grew at a greater rate than newspaper ads during the month, with 2.6% growth compared to 1.5%. Internet job ads are now growing at their fastest annual pace since November 2007.

“The pick up in job advertisements in recent months suggests Australian businesses are confident about the local outlook despite the uncertain global economic environment,” ANZ chief economist Warren Hogan said.

“This suggests the Australian economy is maintaining good momentum into the second half of 2010.”

But he added that the solid rise in total ads disguises some “sharp disparities” in the performance of the states and territories.

While there were some big monthly rises in job advertisement in NT, NSW and Queensland, there were declines in the ACT, South Australia, Western Australia and Victoria, he said.

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