7 Dec 2016

Job ads continue in upward trend

6:14 pm on 7 December 2016

Job advertisements have risen at the strongest monthly rate in about two years.

ANZ's job ads index rose a seasonally adjusted 2.9 percent in November, compared with the month before.

ANZ chief economist Cameron Bagrie said there was broad-based growth - especially in the regions.

"It's not a one-trick pony in terms of the sectors driving it either.

"While it's no surprise that the construction, utilities, manufacturing and transport sector is currently experiencing the largest growth in job ads, we are also seeing solid growth in jobs in retail and tourism, and a range of professional services," he said.

Mr Bagrie said the economy was in good shape.

"The supply of workers has, of course, increased rapidly too, courtesy of both strong net migration and strong labour force participation, but labour shortages clearly exist," he said.

Mr Bagrie said a shortage of workers was a big constraint and that suggested wage growth pressures could soon follow suit.

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