Australia: Surprise Rise in Job Count

A surprisingly high rise in the number of jobs available in AustraliaA much higher rise in the number of jobs available in Australia has kept the unemployment rate unchanged at 5.4%: until the figures were announced, many spectators were predicting the number of jobless would rise slightly to 5.5%. The number of additional jobs becoming available in February was 71,500 – way higher than the figure of 9000 a Reuters poll of economists had predicted.

While the majority of jobs were part-time, the figure for full-time positions was still more than 17,000 – excellent news for the Australian economy, and of course for the workforce. The reason for the unemployment rate not actually falling was that a greater percentage of the population were working or began to seek work again.

This is Australia’s biggest monthly rise in job numbers since back in the year 2000, indicating that economy appears to remain in relatively good health, particularly in comparison to the US and Europe. For a further analysis of the figures please see this ABC News article.

Philip

2 Comments

  1. Wow, I was just reading your other article about the lowest rate of unemployment in the US since 2008. And now I find some good news, even if it’s for another continent! It looks like Australia is not affected by the crisis as much as other parts of the world. Good for them!

    • It’s true, they weren’t hit as badly by the global recession as the US was – they seem to have a relatively healthy economy. Although from what I have read, their mining boom is easing off and that will have an effect. Still, it’s always good to see some economic news that isn’t all doom and gloom.

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