There are mixed signals on employment for the RBA today as job ads are up, but employers show a gloomy outlook for new hiring.
Ahead of today's RBA
meeting, the Dun & Bradstreet National Business Expectations Survey has indicated that businesses don't anticipate hiring new staff as they look to control costs in the midst of difficult economic conditions. Job expectations are at a three-year low, and research by the company indicates no new jobs have been added since the March quarter of 2012.
“With businesses keeping a careful eye on their expenses, the significant cost of hiring new staff appears to be dampening expectations for jobs growth,” Dun & Bradstreet director of corporate affairs Danielle Woods said.
The report has been offset - and seemingly contradicted - by the ANZ
Job Ads series. The latest report from the bank showed job ads were up 3% in February following a rise of 0.6% in January.