NZ job ads rise another 1.1 pc

By NZPA

Thursday 10th October 2002

Advertised jobs rose 1.1 percent in September, according to the ANZ jobs ads series.

The rise followed a sharp 1.7 percent increase in August.

Although Auckland's jobs ads remained largely unchanged in September (-0.1 percent), it followed a 4.6 percent rise in August.

ANZ chief economist David Drage said the resurgent Auckland market was underpinning the series.

"The Auckland economy has gained considerable momentum over the past year, buoyed by a boost to its population from migration and an improvement in households' financial positions associated with strong employment growth, relatively low interest rates and rising house prices."

Job ads remain 7.7 percent below their July 2001 peak, but have been steadily increasing this year. September's figures showed job ads had almost recovered to levels 12 months ago -- just 1.7 percent below.

Advertised jobs were running at over 30,000 per month.

"This is consistent with further employment gains and we expect that the unemployment rate will fall below 5 percent before the end of 2002 from the 14-year lows of 5.1 percent at present," said Mr Drage.

Waikato and Manawatu job ads had also recorded strong growth this year, while other centres had stabilised or were moving off their peaks.

Waikato job ads rose 3.7 percent and Manawatu rose 14.8 perc ent. The ANZ Internet job ads series rose 1.8 perecnt in September, partly retracing a 9.9 percent fall in August. The Internet series remains 17.1 percent below levels at the same time last year and 21.2 percent below its June 2001 peak.

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