Job advertisements have risen strongly in October after virtually no change in September, consistent with a gradual improvement in the labour market, according to ANZ.

The bank's monthly survey of employment advertisements showed a 1 per cent seasonally adjusted increase last month, bringing annual growth to 5.2 per cent.

The more stable trend figures were a little weaker, showing 4.8 per cent annual growth.

ANZ's economics team said the result is consistent with other indicators showing moderate economic growth.

"Our assessment is that the labour market will continue to improve at a gradual pace and the unemployment rate will continue to edge lower, supported by low interest rates and still elevated business conditions," the analysts wrote in the report.

ANZ says job ads are still trending higher but a slower pace. ( Supplied: ANZ )

However, while there are more jobs being advertised, Bureau of Statistics data over the past year show the overwhelming majority of jobs that have been created are part-time.

ANZ said that means there is still a lot of slack in the jobs market as many part-time employees hunt for extra work.

"While the unemployment rate has fallen from a recent peak of 6.3 per cent, underutilisation remains high by historical standards, suggesting that there remains a considerable amount of spare capacity in the labour market," noted ANZ's economists.