Job ads have slowed but there is still a positive outlook with a third consecutive monthly increase.
The job ads index rose again in July, up 1.3% after the 2.8% gain in June,
with annual growth in Job Ads up to 36.1% in July from 32.2%yoy pace in
June. The July increase was smaller than the previous two months’ increase, but in trend terms ANZ job ads rose 1.8% in July and 34.1%yoy, so still a very solid overall outcome
Employment numbers are out this Thursday with expectations for a median increase of 20k in employment and the unemployment rate to remain at 5.1%
Housing Finance
Figures released by the ABS have shown a slowing in housing finance growth with the number of home loans falling to a nine-year low. Total loans for owner-occupied homes dropped 3.9 per cent in June, reversing a revised 3 per cent increase in May. The monthly decline took the total number of loans for June to 46,420, the lowest since 2001. Analysts had expected a 2 per cent drop in the month.
The ending of first home buyer grants has had some impact with higher interest rates also having it's impact. June's fall was the tenth drop in the monthly gauge in the past 12 months.
