A 5.2% hike in the number of job advertisements across the country has been recorded for the month of November, leading experts to stress that this is by far the most prominent sign of a recovering economy. The rise has come after a 1.7% fall recorded last month, but is still 12.3% higher than the lowest figure registered for July this year.
"Total job advertisements are now well past their trough point, with four months of trend growth recorded since July. The 8.3 per cent lift in newspaper job advertising in November is particularly encouraging, given that this sector tends to 'lead' overall job advertising trends. Eventually the improvement in job advertising will translate into higher employment growth", said ANZ's Acting Chief Economist, Warren Hogan, while stressing that the positive data suggests that "Australia's economic recovery is gathering pace".
Last month, there were about 140,658 job ads in newspapers and online, which is still 34.2% lower than the figure recorded for the same month last year, but is being taken in a positive stride by experts.
Everyone is now eagerly awaiting the latest unemployment report which will be released by the Australian Bureau of Statistics on Thursday.
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