Job ad jump points to possible bottom in labour market

[Guest BurgessFamily]

Job advertisements increased 5.1 per cent in February according to ANZ's report, which follows improvements in online employment agency Seek's figures and data from the Department of Employment for January.

 

"Forthcoming job ads data will be important: if much of the recent improvement in job ads is maintained in coming months it would support our view that economic activity will improve gradually this year," he noted in the report.

 

"The lower currency and rising household wealth appear to be supporting domestic spending, with retail sales growth robust over the second half of 2013."

 

 

Last month's official ABS labour force figures showed the jobless rate jumped to 6 per cent, its highest level in more than a decade.

 

 

However, economists view the unemployment rate as a lagging indicator of economic activity, as taking on new staff is generally one of the last things businesses do as conditions improve.

 

http://www.abc.net.au/news/2014-03-03/job-ad-jump-points-to-possible-bottom-in-labour-market/5294898?section=business