ANZ Job Ads - April 2001

Friday, 11 May 2001, 9:39 am
Article: Deutsche Bank

Data Flash (New Zealand) NZ:
ANZ Job Ads - April 2001

Key Points

The ANZ report a 4.1% mom decline in job ads in April, largely reversing the increase in job ads recorded over the first three months of the year. But as discussed below, we suspect this result to be aberrant.

Commentary

We think that the fact that the ANZAC day public holiday fell on a Wednesday - the second biggest job advertising day of the week - may well be the key factor explaining the reported fall in job ads (a possibility not discussed by the ANZ in their commentary).

Three factors support our view:

job ads declined across all regions covered by the survey - quite an unusual event;

a sharp decline was also reported in April 1990 - the last time that ANZAC day fell on a Wednesday; and

the number of internet job ads continued to rise - up 2.8% mom in April. The level of advertising remains high and consistent with net job creation. Indeed, going forward, it would be a surprise if job advertising levels did not fall somewhat from over coming months.

Darren Gibbs, Senior Economist, New Zealand

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