18 Jul 2013

Job ad figures may signal unemployment rise

7:02 pm on 18 July 2013

Lack of growth in the number of job advertisements last month signals a possible reversal of the March quarter drop in the unemployment rate, an economist says.

The ANZ Bank's monthly survey shows the number of jobs advertised online and in newspapers was unchanged on a seasonally adjusted basis in June compared with May, when there had been a 1.4% fall.

Internet advertising grew 0.5% in June but this was offset by a 2.5% fall in newspaper ads leaving the total unchanged.

On an annual basis, the index is just 0.7% higher while internet advertising is up 3% for the same period.

ANZ senior economist Sharon Zollner says the latest figures raise the prospect that the sharp improvement in the unemployment rate in the first quarter might reverse in the second.

Official labour market data for the June quarter is due on 7 August.