Job advertisements fall

New Zealand's unemployment is expected to remain at around 7% over the next six months, according to the latest ANZ Job Ads series which combines newspaper and internet advertisements.

The series fell 0.8% in November (seasonally adjusted), following a 0.9% fall in October.

ANZ economist Sharon Zollner said the monthly fall was driven by a 4.8% drop in newspaper job advertising. The number of internet job advertisements was unchanged from October.

The ''composite'' total, which weighted newspaper advertisements more heavily, to give a better indicator for the unemployment rate, eased 2.4% in November after lifting 1.6% in October.

''This series has eased to a two-year low and continues to suggest an unemployment rate of around 7% over the next six months,'' she said.

Newspaper advertising in Wellington hit its lowest level, while Auckland's was second-lowest on record. Newspaper job advertising in Canterbury moved up to an eight-month high.

Waikato recorded a marginal fall of 1%, Otago and Manawatu eased 2% and 3% respectively, and Hawkes Bay fell 17%.

All but Hawkes Bay increased a little as a percentage of nationwide advertising in the month. However, Otago was the only ''smaller'' region that was trending up by that measure.

 

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