SYDNEY, Nov 5 (Reuters) – Australian job advertisements in newspapers and on the Internet fell 4.6 percent in October, a seventh straight month of decline that suggested some softening in labour demand, a survey showed on Monday.
“The general trend of weaker job advertising and continuing job losses as businesses restructure and/or cut costs, suggests continuing upward pressure on the unemployment rate,” said ANZ’s head of Australian economics, Ivan Colhoun.
AUD/USD remains bid on the better than expected retail sales and trade numbers. Market is still expecting a rate cut by the RBA at its policy meeting tomorrow.
