ANZ Job Ads for NZ economy fell 1.6% in June (seasonally adjusted), and was down 1.2% over the quarter (3mma), notes Liz Kendall, Senior Economist at ANZ.
Key Quotes
“The economy has been decelerating for a while, and now job ads growth has stalled and is starting to move in the wrong direction. Annual growth moderated to 2.9% y/y from 3.9% (3mma).”
“Recent deterioration in business expectations of activity and hiring intentions appear to be flowing through into job ads.”
“Today’s data point to the unemployment rate cruising along at its current level, but not drifting lower.”
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