(Australian Associated Press)
A solid rise in the number of jobs advertised in April, following a more modest lift in March, suggests that employment is likely to strengthen over the coming months, the ANZ Bank says.
Jobs advertisements rose 1.4 per cent in April, in seasonally adjusted terms, surpassing a rise of 0.8 per cent in March, according to the latest job ads survey by the bank.
Annual growth in job ads jumped to 10.1 per cent, from 7.1 per cent in March.
ANZ head of Australian economics David Plank said the stronger job ads figure and other employment indicators suggested that official employment data may be in for a sustained period of strength.
Mr Plank said unemployment had recently moved higher after tracking around 5.75 per cent for most of 2016, but business conditions and confidence were well above the long-term average.
“The jump in employment numbers in March, while encouraging, has not fully closed the gap between the official numbers and survey-based methods,” Mr Plank said on Monday.
“In our view, employment is likely to show further strength over the coming months to close this gap.”
Mr Plank said that, in time, wages should pick up, but wage growth was likely to be gradual.