Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

ANZ Job Ads Survey - October 2001


Data Flash (New Zealand)
ANZ Job Ads Survey - October 2001

The number of job advertisements decreased by 3.0% mom in October - the third consecutive monthly decline. The number of advertisements in October was 4.4% lower than a year earlier and 7.9% below the record high recorded in July. The softer outcome is consistent with other labour market data released this week. Not surprisingly, weakness seems to be concentrated in the urban areas.

Auckland job ads have declined in 6 of the past 7 months to be down 12.3% yoy, while Wellington jobs ads have fallen 15% yoy. A strong fall was also reported in Christchurch in October (annual growth declined from 30.5% to 13.5%). By contrast, job advertising in the central North Island has continued to increase, providing a partial offset to weakness elsewhere. We think that the current level of advertising is consistent with of employment growth of around 1.0% yoy. We forecast employment growth of 0.1% qoq in Q4, reducing annual growth rate to 1.3% from 2.3% in Q3.

However, given the sombre global economic environment and consequent business uncertainty, we would be surprised if job advertising levels did not soften further over coming months, consistent with our expectation that the economy will record only marginal employment growth in 2002.

This data, together with the aggressive easing moves undertaken by the ECB and Bank of England over night, is supportive of our view that the RBNZ will ease the OCR by 50bps to 4.75% on 14 November.

Darren Gibbs, Senior Economist, New Zealand


This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

Please do not respond to this mailbox. If you need to update your contact information or request new research, contact your Deutsche Bank Sales Contact.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO:

Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>

ALSO:

Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>

ALSO: