SYDNEY, Sept. 9 (Xinhua) -- Australia's job advertisements fell for the sixth month in a row in August, showing signs of further weakness in the country's labor market, according to the latest ANZ job advertisement survey released on Monday.
The survey by ANZ Bank found the number of jobs advertised on the internet and in newspapers fell 2.0 percent in August after falling 1.1 percent in July.
Following six consecutive monthly declines, job advertisements are now only 5.0 percent above the lowest level, which was registered during the global financial crisis, the bank said.
ANZ chief economist Ivan Colhoun said the result and other economic indicators suggest little evidence of a pick-up in business confidence.
"There are a number of factors that are likely to see overall business conditions remain at relatively subdued levels, including the forecast contraction in mining investment and the relatively high exchange rate," he said in a statement.
Colhoun said while job advertisements continued to fall, the pace of monthly decline appeared to have moderated.
"Activity in the housing market has continued to improve recently, with increases in house prices likely to support a pick- up in the construction industry, traditionally a large employer," he said.
"Further depreciation in the Australian dollar... should help to rebalance the economy away from mining investment-led growth toward a broader growth base," he added.