Australian job advertisements grew strongly in January indicating that business conditions are improving following the release of the National Australia Bank’s monthly business survey.
According to data released by the bank ANZ, job advertisements surged by 4% to 167,164 last month, more than reversing a 2.2% drop reported in December.
It was also the largest monthly increase since September 2015, a period that just happened to coincide with strong labour market hiring in the latter parts of that year.
Advertisement numbers have now grown in five of the past six months.
As a result of the bounce in January, the year-on-year increase accelerated to 7.1%, a sharp improvement on the 3.7% pace a month earlier.