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

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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