Patchy job ads no cause for optimism
Newspaper job ads jumped in December, especially in Wellington and Auckland, but are not pointing to any great improvement in unemployment, according to a bank survey.
Despite recent rises in business and consumer confidence, unemployment remains high at 7.3 per cent, the worst since the late 1990s.
While newsprint job ads are getting better, the latest ANZ Job Ads series showed there was only a marginal gain in internet job ads in the month. As a result, total job ads in both print and online rose just 0.4 per cent in December, after falling for three months.
The gain was driven by a 2.1 per cent lift in newsprint job ads. Newspaper ads rebounded in Wellington, but there were fewer online job ads in the region. As a result, total job ads in the region fell to a three-year low.
Overall job ads lifted slightly in Auckland, but fell to a six-month low in Canterbury, despite the earthquake rebuild.
ANZ said its composite total for job ads, which placed more weight on newspaper ads, increased 1.1 per cent in December, seasonally adjusted. The level remains below what it was a year ago.
ANZ said the job ads continued to suggest the unemployment rate would continue to hover around the 7 per cent mark in the next six months