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NZD: New Zealand job ads off the boil – ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Sharon Zollner, Senior Economist at ANZ, notes that the NZ jobs ads bounced back a little in February after a sharp January fall.

    Key Quotes

    “The lift is welcome, but it’s demure considering last month’s fall.

    Job ads lifted 0.9% in February (seasonally adjusted) after dropping 2.9% the previous month. Total job advertising is up just 0.4% versus a year ago (3-month average), with annual growth on the verge of going negative for the first time in six years.

    Internet job advertising also lifted 0.9% (sa) in February, while newspaper job advertising lifted 1.0% m/m (sa), a poor showing after dropping almost 20% in January.

    Of the regions, Hawke’s Bay remains out in front, with a 17.7% increase in job ads versus a year ago (3-month average). Auckland is again in second place at 7.0% but is coming off the boil. The Canterbury labour market continues to weaken with job ads down 16.5% y/y.

    Although the labour market finished 2015 with a roar, job ads data for the first two months of 2016 suggests more caution on the part of employers.”
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