Today, various media outlets were happy to report that the jobs market is showing signs of recovery. According to data gathered as part of the monthly ANZ Job Ads Report, the number of positions advertised had increased over the month of November. This is good news for prospective job seekers all across the nation.

Though the gains were slight, analysts and insiders were all too happy to see the jobs market grow. The 0.7% increase is modest, though it does indicate a growing trend in the way that jobs are advertised. While traditional advertisers saw their revenues drop (local and state papers, for example), online advertisers saw a marked increase in employers using their services.

Recent ANZ data has also suggested that the jobs market was improving, with a nine percent increase across the previous year. Though the Australian economy is showing signs of fatigue (according to the national data revealed last week), it appears as though the jobs market is bucking the trend.

Speaking to the ABC Online, ANZ’s chief economist Warren Hogan explained the significance of the findings: “This is an encouraging sign and is consistent with a number of similarly forward-looking indicators that point to some near-term improvement in employment growth and stabilisation in the unemployment rate.”

Over the past few months, the Bureau of Statistics employment data has also been subjected to criticism and scrutiny, after it was revealed that their data collection might be influenced by party politics. “We believe interpretation of the official labour force data warrants some caution given the significant changes that have occurred to the survey recently,” Mr Hogan told the ABC.

But despite optimism about the jobs market in general, the Government is still facing high youth unemployment, a slowing resources sector and potential drops in the interest rate. In short, it’s going to be an interesting road forward.


 

This article as brought to you by the Noble Endeavours Community Development Project, a multi-faceted development project aimed at improving the lives of the people living in marginalized and indigenous communities. Visit Noble Endeavours today!

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