Australia job ads rise 0.3pc in March

SYDNEY: Australian job advertisements edged higher in March to stand at levels that would normally signal solid demand for labour, even as official figures on employment continue to disappoint.

A monthly survey by Australia and New Zealand Banking Group showed total job advertisements rose 0.3 percent in March, from February when they dipped 0.8 percent.

Ads were 7.0 percent higher than in March last year. ANZ no longer provides a breakdown between internet job ads and those in newspapers, as the latter are now a tiny share of total ads.

"It is encouraging to see an improvement in job ads in March, albeit modest, especially given the disappointing jobs report in February," said ANZ head of Australian economics, David Plank.

The official jobless rate climbed to a 13-month high of 5.9 percent in February and employment unexpectedly fell, a risk to the outlook for wage growth and inflation.

The Reserve Bank of Australia (RBA) has cited a rise in unemployment as one of the few developments that could make it consider a further cut in interest rates.

The central bank holds its April policy meeting on Tuesday and is considered certain to keep rates at 1.5 percent, where they have been since last August.

"While somewhat at odds with recent employment data, the improvement in job ads is consistent with other forward indicators," said Plank. "As such, we continue to expect a gradual improvement in labour market conditions through 2017."