Job ads take record dive

JOB advertisements in newspapers and on the internet in Australia have fallen again. A plunge of 8.6 percent in advertising volumes has been recorded by November in ANZ Bank’s monthly survey.

The survey found advertising for employment had fallen by the most dramatic margin in the 30 years of the survey. Ads in October fell 5.9 percent compared with the corresponding period last year, according to the survey, Bloomberg reported.

The data not only reflects the soft state of the Australian job market but also the challenge to newspaper publishers whose revenues are directly affected by the downturn.

PANPA understands from its industry sources that this disappointing result will be partially softened in the short-term by retailers who have been spending more aggressively in newspapers than had been anticipated in the run-up to Christmas and the New Year sales.

ANZ Bank’s report is significant as it indicates that one of the major pressures affecting newspapers in America has arrived in Australia – diminishing ad revenues from a soft jobs market. American papers have also suffered from dramatic declines in real estate and car advertising.

While property has held its own, the domestic market for cars is also in trouble with demand dropping 2.7 percent below 2007 volumes, year-on-year. More significantly, the Australian Federal Chamber of Automotive Industries said last week that sales fell 22.2 percent in November, compared with the corresponding period a year earlier. When compared with October sales, demand had fallen 9.4 percent month on month.

There is no data released on the impact of car advertisement for newspapers.

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