Job Ads Pick UP!

This month's UBS Investment Research from Economist Scott Haslem looks at the job ad market and the promising signs of an earlier than expected recovery. The research shows "a pick up of job ads last month and suggests that the ANZ job ad series for May could show some levelling-out after its sharp falls over the past 7 months." As the job ad downward cycle looks to be bottoming out, growth in job ads could be seen earlier than expected in late 2009 rather than sometime in 2010. With this we could also see less dire unemployment figures than have been bandied about at the 9%-10% mark. A recent NAB survey suggests that this figure could be below 8%. It is promising that figures and research is suggesting a more positive outlook on the Australian employment front.