Job ads surge 20 per cent in February

AAP

THE number of job ads placed in newspapers and on the internet surged by almost 20 per cent in February, reversing a fall of eight per cent in January, an ANZ survey has found.

The total number of job advertisements placed in major metropolitan newspapers and on the internet was up 19.1 per cent at 159,778.

Newspaper ads grew by 13.1 per cent and internet ads surged 19.6 per cent, according to the ANZ job advertisement series released on Tuesday.

The survey showed February's job advertisements are now just 2.3 per cent lower than the same month a year earlier, after being 26 per cent lower in January.

ANZ chief economist Warren Hogan said growth in February suggested January's decline was probably a seasonal anomaly.

"Total job advertisements are continuing to improve month on month from their cyclical low point last year," he said.

"This has already translated into solid employment growth and reduced unemployment, even through a period of relatively strong labour force growth."

The number of job advertisements in major metropolitan newspapers grew by 9,947 per week in February, up 14.9 per cent on February 2009 figures.

The number of internet job advertisements grew by an average 149,831 per week which was 3.3 per cent lower than in February 2009.

Newspaper job advertisements improved in all states and territories in February, seasonally adjusted, except Queensland, which recorded a 6.3 per cent fall.

The resource rich state of Western Australia recorded the largest spike in newspaper job ads, with 22 per cent, followed by SA with 19.5 per cent, Victoria with 19.3 per cent and NSW at 14.3 per cent.

Newspaper job ads grew by a modest 3.3 per cent in Tasmania, by 13.3 per cent in the ACT and by 11.8 in the Northern Territory.

All states and territories recorded newspaper job ad levels above those of February 2009 except Queensland, seasonally adjusted.

In trend terms the number of newspaper job advertisements grew by 1.1 per cent in February which was the weakest monthly growth since June 2009.

But in annual trend growth rate terms, newspaper job ads continued to improve.

These were seven per cent higher than they were in February 2009 which was the first positive annual trend growth reading since December 2007.

Mr Hogan pointed out that total aggregate hours worked remains near the level it was a year ago, indicating a significant degree of spare capacity.

"In the near term, the forward indicators appear positive for more employment growth through the first half of 2010, although probably at a slower pace than seen over the past four months," Mr Hogan said.

"The ANZ and other job ads surveys are improving, albeit at a softening pace and retail sales turnover appears to be holding up well in the post-stimulus period."

He said February's labour force figures to be released on Thursday would likely show another rise in total employment.