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SYDNEY (XFN-ASIA) - Job advertisements in newspapers and on the Internet during May averaged 251,998 per week, jumping 10.3 pct from April and up 40.8 pct from a year earlier, Australia and New Zealand Banking Group Ltd (ANZ) said.
In April, the survey showed 3.5 pct more job ads than in March.
ANZ said the result of the latest monthly survey showed that the demand for labor is booming which, alongside a range of other partial economic indicators, show that the Australian economy entered 2007 with a great deal of momentum.
Internet job advertisements surged an adjusted 10.9 pct last month when compared to April to an average of 231,211 per week and were 46.2 pct higher than a year before.
Internet job ads were 4.0 pct higher in April from March.
Job advertisements in major metropolitan newspapers rose an adjusted 4.5 pct in May to an average of 20,787 per week. They were down 1.3 pct in April from March.
Over the year to May, newspaper advertisements were lower by 0.4 pct.
ANZ head of Australian economics Tony Pearson said employment growth has continued at a robust pace in recent months and his firm's job advertisements series suggests there is a likelihood of even stronger growth in employment over the months ahead.
He said with the unemployment rate already down to a 32-year low of 4.4 pct and given the very robust demand for new workers, there is now a good chance that the unemployment rate will fall again to new cyclic lows over coming months.
"In this environment, policy makers will remain alert to any signs of an inflationary acceleration in wages growth," Pearson added.
SYDNEY (XFN-ASIA) - Job advertisements in newspapers and on the Internet during May averaged 251,998 per week, jumping 10.3 pct from April and up 40.8 pct from a year earlier, Australia and New Zealand Banking Group Ltd (ANZ) said.
In April, the survey showed 3.5 pct more job ads than in March.
ANZ said the result of the latest monthly survey showed that the demand for labor is booming which, alongside a range of other partial economic indicators, show that the Australian economy entered 2007 with a great deal of momentum.
Internet job advertisements surged an adjusted 10.9 pct last month when compared to April to an average of 231,211 per week and were 46.2 pct higher than a year before.
Internet job ads were 4.0 pct higher in April from March.
Job advertisements in major metropolitan newspapers rose an adjusted 4.5 pct in May to an average of 20,787 per week. They were down 1.3 pct in April from March.
Over the year to May, newspaper advertisements were lower by 0.4 pct.
ANZ head of Australian economics Tony Pearson said employment growth has continued at a robust pace in recent months and his firm's job advertisements series suggests there is a likelihood of even stronger growth in employment over the months ahead.
He said with the unemployment rate already down to a 32-year low of 4.4 pct and given the very robust demand for new workers, there is now a good chance that the unemployment rate will fall again to new cyclic lows over coming months.
"In this environment, policy makers will remain alert to any signs of an inflationary acceleration in wages growth," Pearson added.
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