Job advertisement in major media outlets , including internet had sharply fall for eight consecutive months according to a survey. In fact, the demand for new jobs deteriorated to almost recession level.
The severity of the fall in job advertisements means the Federal Government's forecast of a 5 per cent unemployment rate by June by "too optimistic".
ANZ expects the Government to revise unemployment predictions higher in the May Budget, and tips a jobless rate of 6 per cent this year.
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