The total number of job advertisements placed in major metropolitan newspapers and on the internet grew at a decent pace in the month of March, according to an ANZ survey. The growth in job ads signals that Australian labor market is on its way to recovery as the employers are now becoming more confident about the economic outlook.

The ANZ job advertisement series showed that the total number of job advertisements placed in major metropolitan newspapers and on the internet rose 1.8% in March. This was reported the second consecutive growth in monthly job ads.

The survey showed that job ads were reported to 162692 per week. The total number of jobs ads was reported by 8% in the month of March, while comparing to the same month last year. This was reported the first YOY growth in job ads since July 2008.

According to ANZ survey, the number of internet ads grew by 2% in the month of March, while newspaper ads declined by 1%. However, newspaper ads were reported up by 20.1% compared to the ads in March 2009.

Warren Hogan, chief economist of ANZ, said that this steady growth in labor demand is already translating into solid employment growth and reduced unemployment.