Australia job advertisements near 2-1/2 year peak in February

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Australian job advertisements rose to a near 2-1/2 year peak in February, providing another sign massive fiscal and monetary stimulus were working to prop up the country's economy following a coronavirus pandemic induced recession.

FILE PHOTO: Workers cast shadows as they stroll among the office towers Sydney's Barangaroo business district in Australia's largest city, May 8, 2017. REUTERS/Jason Reed

Monday’s figures from Australia and New Zealand Banking Group showed total job ads grew 7.2% in February from January, when they rose a revised 2.6%. “The ongoing strength in ANZ Job Ads gives us confidence that we’ll see solid net employment gains continue over February and March at least,” said ANZ senior economist Catherine Birch. “The task of bringing down underutilisation is still sizeable.”

 

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That's because the financial support offered to people who lost their jobs due to covid restrictions ends at the end of the month.

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