Western Australia may be feeling the effects of a shrivelling resources market with job ads in the state declining for the fourth consecutive month.

The number of listings for new jobs posted online and in newspapers fell 1.8 per cent in June, the latest ANZ Survey has found. There were approximately 129,720 ads in June, down from 132,036 just a month before. ANZ chief economist Ivan Colhoun said the decline was likely a result of continued cost-cutting and revenue-forecast downgrades from the mining sector; “WA is now recording the sharpest trend decline in newspaper job advertisements of any state, with job advertising nearly 50 per cent lower than a year ago,” he said.

The economist said WA was on the sharp end of fading investments in the once-booming industry, it has been hampered by economic weakness from our biggest trading partner, China.  

Mr Colhoun says “the continuing downward trend for advertising suggests the RBA will further reduce interest rates in coming months... ANZ expects a further interest rate cut in November this year and sees the balance of risks being for interest rate reductions in 2014, notwithstanding the fact that a declining Australian dollar is now also providing useful stimulus to the Australian economy.”