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

 


Unemployment rate set to hold as job ads flatten out, ANZ

Unemployment rate set to hold as job ads flatten out, ANZ

Jan. 17 (BusinessDesk) - ANZ has predicted an unemployment rate of about 7 percent for the next six months, as job advertisements experience an only slight rebound.

The total number of advertisements in newspapers and online rose 0.4 percent (seasonally adjusted) in December, according to ANZ's New Zealand Job Advertisement series.

Advertising for Wellington jobs hit a three-year low in December, and advertisements in Canterbury fell to a six-month low. Job advertising in Auckland rose slightly in December after dropping for the previous five months.

ANZ's weighted composite measure of job advertising rose 1.1 percent in December (seasonally adjusted), up from November's two-year low.

The composite places more weight on newspaper advertisements to offset the effects of multiple internet sites listing the same jobs.

ANZ claims this composite closely tracks changes in the official unemployment rate six months before they turn up in the Household Labour Force Survey, the primary measure of employment levels.

On this basis, they predict the unemployment rate will hold steady, hovering around 7 percent until the middle of this year.

The December quarter HLFS is due for release by Statistics New Zealand on Thursday, February 7.

Online job advertising continues to take market share from newspapers -- 10 percent fewer newspaper ads were published last month than in December 2011, while online ads dropped only 1 percent in the same period.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news