SYDNEY, Sept 7 (Reuters) - Australian job advertisements
rose for a third straight month in August though at a more
moderate pace with the second most populous state of Victoria in
a coronavirus lockdown.
Monday's figures from Australia and New Zealand Banking
Group showed total job ads climbed by 1.6% to an
average 109,103, up from a low of 63,939 in May.
Ads had bounced 41% in June and 19.1% in July following a
record plunge of 53.1% in April when the first wave of lockdowns
Despite the bounce, ads were still down 30% on August last
"We expect outright falls in national employment in August
and September," ANZ Senior Economist, Catherine Birch said.
"Q4 is also looking worrying, given the amount of fiscal
support to workers, businesses and households scheduled to be
withdrawn, particularly with Victoria only gradually emerging
The national unemployment rate is at a 22-year high of 7.5%
with policymakers warning it would climb to 10% later this year.
The ANZ vacancies series is closely watched by the Reserve
Bank of Australia (RBA) as it counts actual job ads, while
Australian Bureau of Statistics data is based on intentions by
firms to hire.
Since mid-March, the RBA has slashed rates to a record low
of 0.25%, launched an unlimited bond buying programme while
offering cheap funding to banks to keep borrowing costs down and
cushion the economic blow from the pandemic.
(Reporting by Swati Pandey;
Editing by Shri Navaratnam)