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New Zealand job ads: Steady demand but pace is slowing - ANZ
FXStreet (Bali) - The ANZ New Zealand job advertising data suggests steady demand for labour continues, though the pace is slowing, according to Sharon Zollner, Senior Economist at ANZ.
Key Quotes
"Job advertising data suggests steady demand for labour continues, though the pace is slowing."
"Total job advertising fell 0.8% in March (seasonally adjusted). The trend in the index is now flattening out. Taking a 3-month average to smooth through noise, ads are up 0.7% q/q and 5.3% y/y. It’s a case of moderation rather than a dip."
"Nationwide internet job advertising fell 1.2% (sa) in March. Newspaper job advertising lifted 2.8%, but remains well below the levels prevailing at the end of last year."
"Looking at a 3-month average, annual growth rates of job ads continue to ease across the three main centres. Auckland has seen the strongest annual total job ad growth, up 11.1% y/y. By the same measure Canterbury ads have now dipped into negative territory, down 0.7% y/y, while Wellington ads are down 5.4% y/y."
"We expect more modest employment growth this year after a strong performance in 2014. That’s natural as people with the right skills become increasingly difficult to find. SMEs are now reporting finding skilled staff as their biggest problem."
"The unemployment rate is anticipated to ease modestly from current levels (5.7%) over the coming year."
