Bloomberg News

Australia Job Ads Climbed for Second Month in February, ANZ Says

March 04, 2012

Australian help-wanted notices advanced in February for a second straight month, driven by a mining investment boom to meet Asian demand, a private report showed.

Jobs advertised in newspapers and on the Internet rose 3.3 percent last month, after a revised 7.5 percent gain in January, according to an Australia & New Zealand Banking Group Ltd. (ANZ) report released in Melbourne today.

Reserve Bank Governor Glenn Stevens will keep the nation’s benchmark interest rate at 4.25 percent tomorrow, according to all 24 economists in a Bloomberg News survey. Resource projects in Australia valued at A$456 billion ($490 billion), fueled by companies such as BHP Billiton Ltd. (BHP), are helping cushion a slump in manufacturing and services hurt by a strong currency.

“The data supports the view that mining, energy and infrastructure investments are driving overall job creation in Australia,” Warren Hogan, chief economist at ANZ Bank, said in a statement.

National vacancies advertised in newspapers fell 8.6 percent in February, and Internet notices advanced 3.8 percent, today’s report showed.

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editor responsible for this story: Shamim Adam at sadam2@bloomberg.net


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