Prior month revised lower to 0.5% from 0.9% previously
ANZ job advertisements for the month of April came in at -2.1%. That was much lower than the 0.5% last month. Moreover, the very month was revised lower from +0.9%.
Versus a year ago, the job adverts were up 3.9%. That was down from 6.0% the previous month.
The survey suggests a softer outlook for the labor market.
Liz Kendall, the senior economist at ANZ Bank said:
"With both survey business confidence and hiring intentions down, weaker labor demand is likely the main driver"
Yesterday, the NZ employment report came in as expected with employment growth up 0.6% and the unemployment rate also coming in as expected at 4.4%. Although as expected it was a 9 year low.
Inflation, or lack of it, remains the issue in New Zealand as the CPI inflation is toward the bottom of the 1-3% target.
The NZDUSD is trying to correct higher. The fall to new lows failed. The price is trying to move higher.
