5 Nov 2012

Australian job vacancies down further

2:00 pm on 5 November 2012

The number of jobs advertised in Australia has fallen for the seventh consecutive month.

ANZ's monthly survey shows job ads declined 4.6% in October, following a fall of 3.9% in September. The ABC reports they are now down 15% on the levels recorded a year ago.

The level of job ads is now the lowest since January 2010.

ANZ head of Australian economics Ivan Colhoun said this will translate to further increases in unemployment.

"ANZ forecasts a 5.75% unemployment rate in mid 2013," he said in the report.

The Bureau of Statistics is to issue official employment data for October on Thursday.