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Panpa Bulletin : March 2006
16 | PaNPa bUlletiN March 2006 coNteNt MUCH has been made in the press recently about the rapid increase in Internet job adver- tising vis-à-vis paltry growth in traditional newspaper ads. For a long time, newspaper job ads have been assessed as a meas- ure of employment health and as an effective economic indi- cator -- such that the RBA pays close attention. Is it time to cast off the 'old media' of newspaper ads in fa- vour of the 'new media' of the Internet for the purposes of economic introspec- tion? ABN Amro thinks not. While Internet com- panies have beaten tra- ditional publishers to the punch on Internet advertising -- Seek boasts 80 percent of the Internet job market -- ABN's survey indicates that newspa- pers 'still trump' the Internet in the search for a job. Last year, for example, ABN reports, 85 percent of un- employed workers looked at newspaper advertising in their search for a job, basically un- changed from two years earlier and substantially higher than the 56 percent of respondents who looked at Internet ads. In terms of action, there was a similar difference between the proportions of those who an- swered a newspaper advertise- ment (63 percent) and those who answered an ad on the Internet (39 percent). For peo- ple who successfully found a job, there is a matching prefer- ence for newspaper ads, both in looking for employment (38 percent for newspapers versus 22 percent for the Internet) and answering ads (22 percent versus 12 percent). It would be interesting to be able to qualify those num- bers by knowing how many unemployed had access to a computer for the purpose of job-seeking, other than the Centrelink in-house system. Even Internet café time is ex- pensive compared to buying a paper, and one presumes the unemployed would make up a significant proportion of those Australians who don't own a computer. Despite the above figures, ABN's analysis shows that the relationship between newspa- per ads and employment has become 'looser' over recent years. Allowing for this change suggests employment growth will hold steady at around 1.5 percent over the first half of this year, while full-time jobs growth will slow from two per- cent to 0.5 percent. Although these predictions are not very accurate, admits ABN, Internet ads are no alternative as analysis shows that they have no statistical relationship with employment. Based on this, ABN advises retaining newspaper ads in a suite of forward indicators for jobs growth and given that the labour market is an important influence on RBA decision- making, as a monetary indica- tor. copyright Australasian Investment Review, www. aireview.com. Jobseekers still want newspaper ads Step up production to a new performance class, with PolyStream. This secure gathering process doubles net speeds. JetFeeder, the hopper for full format to CDs and cards. With minimum change-over times, a guarantee of high net performance. PolyStream, for modular expandability, with an interface to all familiar foil-wrapping machines, and with intelligent control for the flying supplement change. PolyStream for your PolyBags: achieve a higher sales price and greater value creation. Ferag. Performance, Progress, Value. PolyStream There's nothing faster in polybagging FERAG AUSTRALIA PTY. LTD. A WRH WALTER REIST HOLDING AG COMPANY SYDNEY OFFICE ALEXANDRIA, NSW 2015, PHONE +61 2 8337 9777, www.ferag-australia.com MELBOURNE OFFICE DINGLEY VILLAGE, VIC 3172, PHONE +61 3 9551 3988