Australia’s job advertisement continued to recover in October, data released by ANZ showed Monday.
Job Ads increased 9.4 percent month-on-month in October, following an upwardly revised 8.3 percent in September. But the rate remained 13.5 percent lower than the February level.
“As direct fiscal support drops off, leading some businesses to close or downsize, we expect some employment losses,” ANZ Senior Economist, Catherine Birch, said. “But we may not see the same effect on Job Ads, as it seems unlikely that many businesses in a tenuous position would be recruiting.”
Business and consumer confidence will be critical to a sustained improvement in hiring activity and employment growth though, Birch added.
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