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.