ANZ: There's been a 'loss of momentum' in Australia's labour market this year

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Australian job advertisements fell marginally last month, according to the ANZ job ads survey for September.

Total job advertisements fell by 0.3% to 159,550 in seasonally adjusted terms, leaving the annual increase at 3.7%. The decrease followed a 1.7% jump in August.

ANZ no longer provides a breakdown between internet postings and ads in newspapers given the shift to online advertising seen in recent decades. The split between full and part-time positions available is not disclosed.

“The fall is consistent with some loss of momentum in labour markets this year, and more recently, in surveyed business conditions,” said Felicity Emmett, head of Australian economics at ANZ.

“Yet the rise in job ads over the past three months is consistent with moderate annual employment growth, which should be sufficient to underpin a further decline in the unemployment rate, albeit at a gradual pace.”

The ABS will release its September labour force report on Thursday, October 20.

Thanks to another surge in part time employment, the ABS reported that Australia’s unemployment rate fell to 5.6% in August, the lowest level seen in three years.

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