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Reuters
Reuters
Business

Australia job ads bounce 1.4 percent in October - survey

Workers walk on the streets of Sydney, Australia, September 4, 2017, as Australian Bureau of Statistics figures released on Monday showed Australian companies doled out the biggest increase in wages and salaries in two years last quarter. REUTERS/Steven Saphore

SYDNEY (Reuters) - Australian job advertisements rebounded in October after a brief dip the previous month, suggesting the country's run of strong employment gains could last a while yet, a survey showed on Monday.

A monthly survey by Australia and New Zealand Banking Group <ANZ.AX> showed total job advertisements rose 1.4 percent in October, more than reversing a 0.7 percent drop in September.

Ads of 169,577 were up a healthy 12.5 percent compared to last year and still near their highest since 2011.

"The bounce in ads in October is consistent with elevated business conditions and capacity utilisation," said ANZ's head of Australian economics, David Plank.

"The slight slowing in the month-on-month trend growth since August supports our view that employment growth is likely to moderate a touch after this extraordinary period of strength," he said.

Jobs growth has surged this year, according to the official measure of employment, nudging the jobless rate down to 5.5 percent.

(Reporting by Wayne Cole; Editing by Shri Navaratnam)

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