After good growth in May and June the number of new job ads registered with SEEK (seasonally adjusted) fell by 4.1% in July 2012, to be 2.0% lower than in July 2012. With the total number of applications for those jobs at the same level as in June, the SEEK Employment Index (the ratio of new job ads placed with SEEK during the month to the number of applications for those jobs) also fell by 4.1% in July, to be 0.3% lower than in July 2011. Given the continued month-to-month volatility evident in the data recently, these indicators should not necessarily be taken to mean that the steady underlying improvement in the New Zealand labour market has come to an end.
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