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Australian Job Advertisements Rise Least in Six Months, Says ANZ
Written by article default Monday, 08 November 2010 06:19
A measure of Australian Job Advertisements from ANZ Bank rose 0.6 percent in October, marking the smallest increase in six months. The result precedes official employment data due later this week that is expected to show the jobless rate fell to 5 percent – the lowest since January 2009 – and may prove to mute that outcome’s potency as a supportive force for the Australian Dollar as traders look ahead to anticipate slower hiring conditions down the road. A separate report several weeks ago showed Skilled Vacancies fell at the slowest pace in four months in October, hinting the tight labor market conditions witnessed over recent months may have some room to unwind. This would ease some upward pressure on wages and – by extension – on headline inflation, muting the case for an aggressive return to rate hikes after the Reserve Bank of Australia raised borrowing costs for the first time since May last week.Click here to learn more about DailyFX.