New Zealand ANZ job ads for June,
-1.6% m/m
- prior +2.2% m/m
For the y/y based on a 3 month MA, up 2.9% from +3.9% the previous month
ANZ's summary is quick and to the point .... linking the declines we have seen in business confidence to the employment market ….
- Jobs growth has stalled and is starting to move in the wrong direction
- Business expectations of activity and intentions to hire have deteriorated and this is flowing through into job ads
More:
Today's data point to the unemployment rate cruising along at its current level, but not drifting lower
- Flat-lining in both job ads and the unemployment rate are consistent with our expectations, but downside risks have increased that could see the labour market go backwards from here.
