Job ads fall further in October
Job advertisements were weak again in October, after falling in September, despite a rebound in newspaper ads.
The ANZ job ads series which sums both newspaper and internet ads fell 0.8 per cent in October, after dropping 3 per cent in September.
However, the figures showed newspaper job ads rebounded 5.7 per cent in October, recovering much of the ground lost in September.
Internet job ads dipped 2 per cent in October, adding to a 2.5 per cent drop in September.
ANZ said the job ads had been trending down since the middle of last year and suggested that unemployment would stay around 7 per cent in the next six months.
Unexpectedly grim figures out last week showed unemployment worsened to 7.3 per cent in the September quarter. The number of unemployed rose by 13,000 in the three months to September 30.