Govt jobs index falls for second month

THE federal government's leading employment index has fallen for a second consecutive month in March.

The declines came after six consecutive months of increases.

The Department of Education, Employment and Workplace Relations indicator of employment declined by 0.029 index points in March, to 0.005 points.

"It is too early to confirm that the pace of employment growth is likely to remain below its long-term trend rate of 1.4 per cent per annum, because the indicator has fallen for fewer than six consecutive months," the department said on Wednesday.

The leading jobs indicator anticipates movements in the growth cycle of employment, with a turning point confirmed after six consecutive monthly moves in the same direction.

The indicator has four weighted components: ANZ Newspaper Job Advertisements, Dun and Bradstreet Employment Expectations, the Westpac-Melbourne Institute Leading Index of Economic Activity and the Westpac-Melbourne Institute Consumer Sentiment Index.

Official labour force data for February will be released on Thursday.

Economists expect the number of people employed in February rose by just 8000 compared to December, and not by enough to prevent the jobless rate rising to 5.5 per cent from 5.4 per cent previously.

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