Unemployment tipped to hold as job ads flatten

ANZ has predicted an unemployment rate of about 7 percent for the next six months as job advertisements rebound only slightly.

The total number of advertisements in newspapers and online rose 0.4 percent (seasonally adjusted) in December, according to ANZ's New Zealand Job Advertisement series.

Advertising for Wellington jobs hit a three-year low in December and adverts in Canterbury fell to a six-month low. Job advertising in Auckland rose slightly in December after dropping for the previous five months.

ANZ's weighted composite measure of job advertising rose 1.1 percent in December (seasonally adjusted), up from November's two-year low.

The composite places more weight on newspaper advertisements to offset the effects of multiple internet sites listing the same jobs.

ANZ claims this composite closely tracks changes in the official unemployment rate six months before they turn up in the Household Labour Force Survey, the primary measure of employment levels.

On this basis, they predict the unemployment rate will hold steady, hovering around 7 percent until the middle of this year.

The December quarter HLFS is due for release by Statistics New Zealand on Thursday, February 7.

Online job advertising continues to take market share from newspapers – 10 percent fewer newspaper ads were published last month than in December 2011, while online ads dropped only 1 percent in the same period.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.6648 0.0118 1.81%
AUD 0.9123 0.0051 0.56%
EUR 0.6276 0.0116 1.88%
GBP 0.4404 0.0065 1.50%
HKD 5.1539 0.0911 1.80%
JPY 81.8630 1.7140 2.14%


Commodity Price Change Time
Gold Index 1065.8 6.790 2015-11-30T00:
Oil Brent 44.7 -0.510 2015-11-30T00:
Oil Nymex 41.6 -0.130 2015-11-30T00:
Silver Index 14.1 0.076 2015-11-30T00:


Symbol Open High Last %
NZX 50 6107.5 6150.7 6100.1 0.83%
NASDAQ 5139.6 5141.4 5127.5 -0.37%
DAX 11422.5 11430.4 11382.2 -0.13%
DJI 17802.8 17837.2 17798.5 -0.44%
FTSE 6356.1 6401.4 6356.1 0.68%
HKSE 22197.8 22477.5 21996.4 1.75%
NI225 19799.1 20012.4 19747.5 1.34%