NZD: ANZ New Zealand Job Ads Back on the Job – ANZ

NZD: ANZ New Zealand Job Ads Back on the Job – ANZ

21 April 2016, 07:22
Roberto Jacobs
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NZD: ANZ New Zealand Job Ads Back on the Job – ANZ

Sharon Zollner, Senior Economist at ANZ, notes that the NZ’s jobs ads rose strongly in March, and have now more than made up the ground lost in January, restoring the upward trend.

Key Quotes

“Job ads lifted 2.9% in March (seasonally adjusted), building on a 1.2% rise in February, suggesting January weakness was transitory. Total job advertising is up 1.7% versus a year ago (3-month average), having come very close last month to going negative for the first time in six years.

Internet job advertising lifted 2.8% (sa) in March, while newspaper job advertising rose 4.4% m/m (sa), but remains on a downward trend.

Of the regions, Hawke’s Bay is still in front but tiring, with the growth rate in job ads versus a year ago falling from 17.7% to just 10.0% (3-month average) after dipping in two of the past three months. Auckland continues to look pretty solid at +8.5% y/y, while the Canterbury labour market continues to weaken with job ads down 15.3% y/y.

Job ads data for the first three months of 2016 suggests a degree of caution may have crept in on the part of employers, but they are certainly not shutting up shop.”


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