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Fuseworks Media
Fuseworks Media

Job advertising lifted for a third consecutive month in April and growth appears to be accelerating, according to the latest ANZ job advertising data.

The data points to labour market strength that should eventually feed into wage rises.

Job ads lifted 1.7% in the month (seasonally adjusted), building on a 3.1% rise in March, and are up 4.6% versus a year ago, on a three-month average.

"Surveys of New Zealand businesses show they have a positive view of their own prospects. Job ads data indicates that these positive expectations are translating into a willingness to hire and grow," said ANZ Senior Economist Sharon Zollner.

"Our data suggests that the New Zealand labour market remains fairly strong. It is a question of when, not if, this flows into an acceleration in wage growth.

"Job advertisements are higher than a year ago everywhere except Canterbury, with Auckland leading with double-digit growth.

"Differences in labour demand across the regions are now closing, with jobs ads growth in Hawke's Bay continuing to recede to more sustainable rates after a huge surge, and growth in advertising elsewhere on the up."

ANZ job advertising data highlights:

- Job advertising rose 1.7% in April (seasonally adjusted), its third consecutive rise. Annual growth was 4.6%, on a three-month average, bouncing back from near-zero in February.

- Internet job ads lifted 2.9% (seasonally adjusted) in the month; annual growth rose to 8.0%.

- Newspaper job advertising, which is much more volatile, fell 12.7% in April. It remains on a downward trend as newspapers continue to lose market share to online advertising.

- Job ads rose in every region except Canterbury in April (seasonally adjusted).

- On a three-month average, Canterbury job ads are down 14.0% on a year ago; Auckland up 10.8%; and Wellington up 0.5%.

- Labour demand remains strong in Hawke's Bay but in growth terms is fading to more sustainable levels, with total job ads up 8.3% year-on-year. Job ads are up 4.7% year-on-year in Waikato; up 1.6% in Manawatu; and up 6.8% in Otago.

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