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ANZ employment ads figures released show a further fall of 6.7% in internet ads in June (1/2 the level a year ago) and newspaper ads dropped 1.2% in June (also almost 1/2 a year ago.

The RBA are likely to keeps rates stable today but at some point employers will stop hoarding and will start shedding staff. If this happens down the track the RBA may have to add a little extra stimulus to the economy by dropping rates another quarter of a percent.