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Australian Leading Employment Indicator Rises
Tuesday, January 15, 2008
Australian Leading Employment Indicator Rises In Jan
CANBERRA (Dow Jones)--Australia's Department of Employment said Wednesday that its leading indicator of employment rose to a negative 0.050 in January from a revised negative 0.107 in December.
The indicator has now been rising for four straight months, the department said in an accompanying statement. But it would need to rise for six consecutive months to confirm a quickening in the pace of employment growth above its long-term trend of 2.5% per annum, DEWR said.
The indicator measures four weighted time-series variables: ANZ newspaper job ads, Dun & Bradstreet employment expectations, the Westpac-Melbourne Institute leading index of economic activity survey, and the Westpac-Melbourne Institute consumer sentiment survey.
The Australian Bureau of Statistics will issue December employment data Thursday.
-By Rachel Pannett, Dow Jones Newswires
