AAP General News (Australia)
04-07-1999
Aust leading employment indicator falls in February
A leading Australian jobs indicator fell in February for the ninth consecutive month.
The Department of Employment, Workplace Relations and Small Business says the fall was
largely due to the decline in the Australian Bureau of Statistics job vacancies in the three
months to February.
The indicator is based on seasonally adjusted data from six components, incuding ABS and
ANZ vacancies, vehicle registrations, dwelling approvals, the skilled vacancy survey and GDP.
It's designed to give advance warning of turning points in cyclical employment, with the
average lead time around eight months.
It comes ahead of the release of jobs data for March on Thursday, with economists expecting
the unemployment rate to rise to 7.5 per cent, seasonally adjusted.
Unemployment fell to 7.4 per cent in February.
AAP RTV rt
KEYWORD: JOBS (CANBERRA)
1999 AAP Information Services Pty Limited (AAP) or its Licensors.
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