Fed: Poor jobs ads, home lendiing data show economy still weak

AAP General News (Australia)
04-09-2001
Fed: Poor jobs ads, home lendiing data show economy still weak

The possibility of recession looms again with a drop in the number of jobs advertisements
and home lending figures suggesting the economy stayed weak in the first quarter of 2001.

While the building industry can at least look forward to interest rate cuts already
in the pipeline and more cash for first home builders, the outlook on jobs remains poor.

The ANZ Bank's monthly survey says advertised job vacancies fell 7.9 per cent in March
to their lowest level in four years after February's 10 per cent drop.

Analysts say this presents a major problem for the government in the lead-up to the
federal election.

They say the growing economic gloom means voters will feel their jobs are less secure.

AAP RTV

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KEYWORD: ECONOMY (CANBERRA)

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