Job advertisements in Australia declined for the first time in five months in December, latest survey from the Australian and New Zealand Banking Group revealed Monday.
Total job ads fell a seasonally adjusted 1.9 percent month-over-month in December, reversing 1.6 percent climb in the November.
Annual growth in job ads eased to 3.7 percent in December from 6.0 percent in the preceding month.
“While a disappointing outcome, we see the labour market as losing some of its previously strong momentum not stalling. Indeed, ANZ job ads rose by 0.5 percent over Q4 and in trend terms continue to rise,” Jo Masters, senior economist at ANZ, said.
“While the labor market has clearly lost some momentum, business and consumer confidence remain elevated, capacity utilization appears to be on the rise, and retail sales have strengthened recently. As such, we continue to expect conditions in the labour market to support an ongoing, albeit gradual, decline in the unemployment rate this year.”
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