Aussie Job Ads Continue to Slide

click to enlarge

The ANZ job ad series released today showed continued declines in total job ads, falling a seasonally adjusted 6.7% in June. Job ads on the internet fell -7.2% whilst newspaper adds rose slightly, registering a 0.2% gain. Newspaper ads make up slightly more than 6% of total job ads. Thursday’s unemployment report is in all likelihood going to show more job losses in the Australian economy. Although I will have more faith in the numbers when the abs reinstates the full employment survey.

Don’t be fooled by the small upturn in the year over year employment numbers, we are headed for negative year over year employment numbers as we progress further into the year.