Employment growth enjoyed in Australia in previous months may start to slow as cautious employers avoid hiring new staff in times of economic uncertainty, it has been suggested.

New figures reported by the ANZ Bank yesterday (October 10th) revealed that the number of job advertisements fell by 2.1 per cent in September, representing the third consecutive monthly reduction.

Economists have suggested that the drop, which is the sharpest recorded since May, could have emerged as a result of softening in the labor market, particularly outside the mining industry.

ANZ analysts revealed that the number of job advertisements has fallen in five of the last six months, but believe the decline has gone unnoticed due to its gradual nature compared to losses across other sectors.

Ivan Colhoun, head of Australian economics and property research at ANZ, said: "Moderating job advertising points towards a further softening in employment growth in the months ahead and a modest rise in the unemployment rate."

His comments were made after Australian Bureau of Statistics data highlighted a 0.1 percentage point increase in the country's unemployment rate during August, rising to 5.3 per cent.