Australian job vacancies are on the increase.
People seeking work in Australia will be buoyed by the good news from Australia’s job market today.
Australian job vacancies rose for the first time last month, they were up by 4.1% from July. The figures send out more positive signs that Australia has not only weathered the global recession, but that its own economy is growing stronger than ever.
Warren Hogan, the chief economist at ANZ bank in Sydney said that the figures provided “the best evidence we have received to date that the labour market, and the economy more generally, are about to enter the recovery phase,�
Job advertisements have been falling steadily for around 13 months and this is the first time they’ve actually risen. Last month they were down by 1.7%. Whilst Australian job advertisements are still down by 48.1% compared to last year, the growth this month, coupled with a strong Australian dollar, have fuelled optimism among economists.
It’s now thought that the gloomy predictions made by the Federal Government about unemployment peaking at 8.5% in 2010 will not happen. Many analysts are claiming that the figure will be much lower.
Australia’s economy is now the highest of any developed nation as it continues to grow each month. Australian currency is up 21.5% this yearÂÂ
New Zealand has also reported an economic growth. Surely the rest of the world will now be looking into Australia’s banking procedures and economy to find out if any lessons could be learnt by the rest of us.
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