Ireland Credit Rating Drop / Job Ads

Overnight Ireland's Standard and Poor's credit rating was lowered from AA+ to AA. In March it was lowered from AAA. S & P has maintained it's negative outlook for Ireland's sovereign debt. The credit rating drop is due to the nation's finances being savaged by a costly rescue package for the banking sector. The credit rating drop will increase funding costs for Ireland and Irish banks.

OLIVER JOB ADS
Job ads on the internet fell again but the fall was less severe than in previous months. The index fell 4.32% in May bringing the fall in Australian job ads to 51.90% over the last 12 months.