22 Nov 2013

Job ads continuing to increase

8:37 am on 22 November 2013

The latest survey says job advertisement in newspapers and on the internet are continuing to rise.

The ANZ Bank jobs index shows total job advertising rose to 34,369 in October, a seasonally adjusted 4.5% rise on the previous month.

Newspaper advertisements rose 6.1% and internet ads rose more than 4%.

In the regions, Auckland continues to lead the way in job ads numbers and Canterbury and Wellington rebounded into positive territory.

On an annual basis, total ads increased nearly 10%.

ANZ senior economist Sharon Zollner said the figures suggest unemployment will continue to decline to about 6% by early next year.

She said employers have been saying for some time that they intend taking on more staff and the latest figures indicate they are finally following through on that.

Ms Zollner said job ads are an excellent indicator of the employment and unemployment rates and the signs from the survey in the last couple of months have been good.

She says although two months is not long, the signs match with anecdotes and with data that suggest the New Zealand economy has strengthened considerably during that time.

The unemployment rate stands at 6.2%.