Australian job advertisements rose by 1.8% in December, the seventh-consecutive month that an increase has been recorded. At 140,521, advertisements have increase by 11.4% over the past 12 months, the fastest annual increase seen since April 2011. Total advertisements are also at the highest level since November 2012.
Despite the acceleration in job ads it must be remembered that total unemployed persons in Australia currently sits at highs last seen since July 1997.
Keeping this is mind, my preferred measure of how to read the ANZ survey, the total unemployed person to job ad ratio, remains around levels last seen during the height of the global financial crisis. While at 5.53 unemployed person to advertisement the ratio remains elevated, it is pleasing to see it now trending lower having risen steadily since early 2011.