An increase in job vacancies suggests the unemployment rate will fall, according to a new survey by ANZ.

The ANZ job advertisement series lifted 2% in June, its fifth month of solid increases.

The lift was driven by a 2.9% rise in internet listings, and a 1.5% lift in newspaper advertising.

Since January, the number of newspaper vacancies has lifted 37%, an increase driven by big growth in the Canterbury region.

In the past 3 months more jobs have been advertised in Canterbury than in Auckland and Wellington combined. 

Canterbury accounted for just under 40% of newspaper vacancies in June. Historically this figure has averaged 17%.

Internet advertising has also picked up strongly since troughing a couple of years ago. There has been an 80% increase in internet advertising since the low in July 2009.

“Our composite job ads series suggests the unemployment rate will continue falling,” ANZ chief economist Cameron Bagrie said.

“Our unemployment direction index, which aggregates a range of monthly labour market indicators including job ads, also suggests a small decline in the unemployment rate in the near term.

“An improving labour market will add additional impetus to the recovery process.”