NZ: Job ads fell slightly, down 0.1% m/m in November - ANZ

In New Zealand, ANZ job ads fell slightly, down 0.1% m/m in November, notes Kyle Uerata, Economic Statistician at ANZ.

Key Quotes

“Quarterly growth in job ads slowed modestly to 1.3% and continues to meander within a tight 0–2% range.” 

“Annual job ads growth in Canterbury and Wellington eased to 6% and 8% respectively while Auckland is slowly heading towards a flat outturn (2.2% y/y 3-month average).”

“There is plenty to ponder with recent labour demand indicators. Job ads are perched at high levels but growth rates are easing. Official labour market data has been volatile of late, while a timely read on business hiring intentions from our Business Outlook survey indicates apprehension about the business environment.”

“We expect a modest pick-up in wage growth.”