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Job advertisements: On the job in July

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Fuseworks Media
Fuseworks Media

Job advertising increased for the sixth month in a row in July signalling solid economic growth but possible skill shortages in the year ahead, according to the latest ANZ job advertising data.

Job ads lifted 1.4% in the month (seasonally adjusted) and are running 9.8% higher than a year ago, on a three-month average.

"Employment demand is strengthening, which tells us the economy is growing solidly," said ANZ Senior Economist Sharon Zollner.

"Labour supply is also surging courtesy of strong migration inflows, and underemployment is still high, reflecting part-time employees who are available - and want - to work more hours.

"So there is some capacity to absorb the demand. However, the strength and sustained nature of that demand over many months suggests businesses will find it harder to secure the skilled staff they need.

"Brace for capacity pressures and skill shortages to become key issues for businesses to manage over the year ahead, particularly those in the construction sector."

ANZ job advertising data highlights:

- Job advertising rose 1.4% in July (seasonally adjusted), it sixth consecutive monthly rise. Annual growth was 9.8% on a three-month average and accelerating.

- Internet job ads lifted 2.2% (seasonally adjusted) in the month, while newspaper job advertising, which is much more volatile amid a declining trend, fell 10.0%.

- On a three-month average, Auckland job ads are up 12.2% on a year ago; Wellington up 9.0%; Canterbury down 9.7%.

- Less urbanised regions are seeing even stronger rises, with annual growth in Otago at 14.7%; Manawatu 15.3%; Waikato 17.6%; and Hawke's Bay 12.9%.

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