Aussie employment hits a record high

Australia, 11th July: A record high number of jobs were created in Australia in the month of June 2010.

According to official figures, unemployment touched a 17 month low and this resulted in giving a big push to household incomes. This positive sign is good news for those wanting to immigrate to Australia in the near future. 

Australian dollar, the official currency of Australia, went up by half cent. It reached 87.41 cents yesterday in Asian trade on 8th July with ASX closing 2.4 percent higher. 

There were 11.1 million people employed on different jobs in Australia in the month of June 2010. 

The ABS (Australian Bureau of Statistics) revealed that a total of 45,900 jobs were created in the month of June 2010 helping the unemployment rate become stable at 5.1 percent. 

The brightening up employment scene is in sharp contrast to the unending jobless situations in several other developed countries. 

The economists had forecast that Australian economy see generation of 15,000 new jobs in the month of June 2010. However, the employment situation witnessed much better results and created nearly three times the number of jobs predicted in the month of June this year. 

Some of the major gainers in terms of new jobs in Australia included health sector, scientific, technical, professional services, restaurants and hotels and the last being the public sector. 

The mining industry in Australia also has been creating several new jobs in Australia, thus helping the economy of the nation. It may be noteworthy that although, this sector gives employment just to 1.6 percent people in the nation, many get jobs in the LNG plants and mines. 

Full-time employment has witnessed a rising trend for the tenth-consecutive month with creation of 18,400 full-time jobs in last month.  

As per Glenn Stevens, governor of Reserve Bank, the official data of the ABS appears to be quite upbeat. He added that this was an indicator of the improvements in the Australian labor market along with an upward trend in inflation and improvements in the business investment. 

Talking of the part-time jobs in Australia, a total of 27,500 new part-time jobs were created in the month of June 2010. 

The unemployment rate has come down to 5.1 percent after reaching 5.8 percent in the month of October last year. The present unemployment rate in Australia is nearly half of the jobless rate in European or US zone and its lowest since the month of January 2009.