The ANZ job ads survey for March showed a noticeable slowing on the huge 19.1% surge in February, while a second job ads survey revealed a solid rise.
The 1.8% rise for the ANZ’s survey of newspaper and online job ads was described as shoring up the strong February result by the ANZ’s chief economist, Warren Hogan.
And the Advantage Job Index (formerly the Olivier Job Index) continued to rise in March with a jump of 4.57%, marking the third consecutive month of growth in 2010 and is the biggest rise in Australian online job ads since January. The fastest growing sector in March was Human Resources at a 13.23% increase, showing employers are strengthening their HR teams as the market picks up.
Advantage said WA has highest growth numbers (7.98%) with Queensland the lowest at just 0.77%. NSW recorded growth of 6.23%, VIC 4.58%, SA 1.04, TAS 3.27% and ACT 3.05%.
The ANZ survey showed the total number of jobs advertised in major metropolitan newspapers and on the internet grew to an average of 162,692 per week (seasonally adjusted).
"Although only a small increase in itself, the continued growth in job ads this month shored up the huge lift we saw in February (+19.1%) and provided the first annual growth since July 2008 (+8%).
"Total job ads are now 29.9% above their cyclical trough in July 2009, but remain 41.6% below the all-time peak reached in April 2008."
The number of job advertisements in major metropolitan newspapers fell 1% in March, after jumping 13.1% in February (seasonally adjusted). The ANZ said newspaper job advertisements are now 20.1% higher than they were a year ago.
Newspaper job advertisements improved in March in Victoria, Queensland, Western Australia, Tasmania and the ACT, but fell elsewhere.
The number of internet job advertisements grew 2% in March, adding to the 19.6% increase in February.
The bank said this was up 7.3% higher than March 2009 and the first positive annual growth since August 2008 (seasonally adjusted).
Mr Hogan said that "although only recording modest growth in March, the latest results should be regarded as very strong following the recorded 19.1% jump in the ANZ Job Advertisements series in February.
"This month’s continuation in job ads growth suggests labour demand is strengthening in early 2010 and confirms the rapid improvement in economic conditions in Australia over the past six months."
The ABS’ March Labour Force report, due tomorrow "is likely to confirm this expectation, with another rise in total employment," Mr Hogan said.
"Following last month’s correction in hours worked (and consequent pause in headcount growth), we expect labour demand to translate into jobs growth of around 12,000 this month.
"With the participation rate sitting at 65.2%, this would see the unemployment rate hold steady at 5.3% this month.
"However, any increase in the participation rate above its current range (due, for example, to previously discouraged jobseekers actively returning to the labour market) will see the unemployment rate rise again, despite continuing solid jobs growth."
