INDEPENDENT NEWS

Deutsche Bank Research: NZ ANZ Jobs Ads - October

Published: Mon 8 Nov 1999 11:50 AM
Data Flash (New Zealand)
NZ: ANZ Jobs Ads - October 1999
Key Points
The trend number of job ads rose sharply by 2.3% mom in October and were 35.3% higher than October 1998 - this was the fourteenth consecutive monthly increase in the series.
On a regional basis, the strongest growth was experienced in the Auckland region, where the trend number of job ads increased 2.3% mom.
:::::::::::: Trend:::::: Trend:::::: Trend
:::::::::::: Number:::::: Mom. %:::::: Ann. %
Month of::::::::::::::::::::::::
May-99:::::: 22,190:::::: 2.1:::::: 16.6
Jun-99:::::: 22,812:::::: 2.8:::::: 22.7
Jul-99:::::: 23,560:::::: 3.3:::::: 28.8
Aug-99:::::: 24,285:::::: 3.1:::::: 33.3
Sep-99:::::: 24,950:::::: 2.7:::::: 35.5
Oct-99:::::: 25,520:::::: 2.3:::::: 35.3
Comment
The latest job ads outturn indicates that the improvement in labour market conditions evident in the September quarter HLFS data is likely to continue into the fourth quarter. This outlook is further reinforced by the QSBO numbers employed series which also suggests both a rise in employment and a decline in the unemployment rate - we expect the unemployment rate to edge down from the present 6.8% level to around 6.3% by the end of next year. As employers become more confident regarding the durability of the present recovery, we would expect the re-emergence of skill shortages to led to an upward pressure on wages. Such a scenario further reinforces our expectation that the RBNZ will look to raise the OCR by 50 bps at the 17 November MPS.
ENDS
This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com
In order to read our research you will require the Adobe Acrobat Reader which can be obtained from their website http://www.adobe.com for free.
For answers to your EMU questions, check Deutsche Bank's EMU web site http://www.db.com/emu or email our helpline business.emu@db.com.

Next in Business, Science, and Tech

David McLean Appointed As KiwiRail Chair
By: New Zealand Government
‘More Milk From Fewer Cows’ Trend Continues In A Record Year For NZ Dairy Industry
By: Dairy NZ
Consents Remain At Record Levels
By: Statistics New Zealand
Fonterra Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update
By: Fonterra
Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts
By: Canterbury Museum
Demand High For Covid-proof Businesses
By: ABC Business Sales
Almost Two-fifths Of New Zealanders Don’t Feel Safe Enough To Shop In-store This Black Friday
By: PriceSpy
View as: DESKTOP | MOBILE © Scoop Media