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

 

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news