Job vacancies continue to rise

The number of job advertisements rose 1.0% in March, according to an ANZ Research report released today.

Total job ads on the internet and in newspapers were 2.8% higher than in March 2011 and are now at the highest level since November 2008.

The rise in vacancies was driven by rise in internet job advertisements, which were 4.1% higher than a year ago. Newspaper job ads fell 0.6% in March to 22.0% below levels of 12 months ago.

Growth has now been positive since November 2011.

ANZ chief economist Warren Hogan said advertisements had increased by 12% over the first three months of 2012, in a sign that business hiring intentions were improving.

“The trend in total advertising points toward a modest recovery in employment growth and an unemployment rate remaining below 5.5% through 2012, despite potential divergences between regions and industries,” Hogan says.

While total job advertising has strengthened in 2012, newspaper advertising remained in decline, the report states.