NZ job ads: Keeping up the good work - ANZ

Sharon Zollner, Senior Economist at ANZ, notes that the New Zealand’s jobs ads lifted 0.2% in May (seasonally adjusted), and are on an upward trend, running 7.2% higher than a year ago (3-month average).

Key Quotes

“Internet job advertising fell 0.3% in May (sa), while newspaper job advertising, which is much more volatile, lifted 7.9% m/m (sa) after a fall in April.

It remains a case of “up north down south” in the main centre regions, with Auckland job ads 11.8% higher than a year ago, Wellington job ads up 4.2%, but Canterbury job ads 11.3% lower than a year ago (3-month average), though Canterbury appears to be bottoming out in annual growth terms.

In the smaller regions, Otago has seized pole position with a surge to annual growth of 15.7%. All regions except Manawatu saw a monthly increase in job ads in May – the latter region took a breather after topping the monthly growth stakes last month.

Job ads data suggests that employment demand remains fairly strong as the New Zealand economy keeps up the good work.”