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On Monday 8 November 2010, 7:59 EST
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Date Posted: 7/11/10 17:00:49
In reply to:
EmailPrint..Topics:Interest RatesCompany News & Earnings.
's message, "Job ads increase with wages to follow" on 7/11/10 17:00:06
>Job ads increase with wages to follow
>
>Share
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>EmailPrint..Topics:Interest RatesCompany News &
>Earnings.
>On Monday 8 November 2010, 7:59 EST
>
>The number of full-time job advertisements rose in
>October and wage growth is set to follow, a survey
>shows.
>
>The Advantage job index posted its third consecutive
>month of growth in October, with total job
>advertisements increasing 2.02 per cent.
>
>Full-time job ads rose 0.8 per cent in October and
>were 39 per cent up on the same month a year ago.
>
>In the 12 months to October, Western Australia
>continued to benefit from the mining boom, with a
>49.50 per cent increase in job advertisements.
>
>It was followed by Victoria, up 34.93 per cent, and
>NSW, up 31.79 per cent.
>
>Advantage said the jobs increase showed business
>confidence was improving and wage pressures were
>emerging.
>
>"As interest rates and the cost of living rises,
>employees expect higher wages leading to salary-based
>inflationary pressures," Advantage director of global
>market intelligence Bob Oliver said in a statement.
>
>"In an already tight labour market, employers will be
>forced to offer greater incentives to attract and
>retain the best employees."
>
>The Reserve Bank of Australia (RBA) raised the cash
>rate on Tuesday in a pre-emptive strike on expected
>inflationary increases.
>
>The 25 basis point rise to 4.75 per cent was the first
>time since May that the central bank has raised the
>cash rate.
>
>The Commonwealth Bank of Australia (CBA) has been the
>only major bank so far to lift rates in response.
>
>However, the CBA raised its variable mortgage interest
>rate by 45 basis points - almost double the RBA's
>official increase - sparking community and government
>outrage.
>
>Mr Oliver said the rate increases may lead to
>employees seeking bigger pay packets before Christmas.
>
>The Advantage index showed the sector with the biggest
>gains in job ads was accounting, up 6.28 per cent in
>October.
>
>This was followed by engineering, up 5.35 per cent,
>and advertising and media, up 3.71 per cent.
>
>Human resources, with a fall of 2.87 per cent, and the
>legal sector, down 2.78 per cent, were the worst
>performing sectors.
>
>On a state by state basis in October, the Australian
>Capital Territory was the best performer, with an
>increase of 8.36 per cent, boosted by a surge in
>information technology jobs since the federal election.
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