According to figures revealed by ABS (Australian Bureau of Statistics), the number of employed people increased to 10.97 million, registering an increase of 52,700 people in new jobs in the month of January. The increase in the number of employed is being regarded as the biggest rise since nearly three years ago in December 2006.
Nearly 123,000 Australians have got employment since October 2009 out of which three-quarters are male while the rest are females.
The unemployment rate in Australia had been 5.5 percent in December 2009.
As per the analysts, the creation of new jobs was seen in construction, mining and energy industry, following a high demand from China and other nations.
This increasing trend in jobs was being attributed to increasing number of part-time workers and, to a somewhat lesser extent, to the full-time workers. And the credit for pushing unemployment rate down to 5.3 percent certainly goes to the stimulus spending by the Federal Government.
January 2010 was the third consecutive month during which Australian unemployment saw a significant decline. So, it’s a good indication towards the Australian economy expected positive outcomes in the coming times. While unemployment rate was lowest in South Australia at 4.4 percent, Western Australia recorded an unemployment rate of 5 percent in January 2010.
The economy is looking positive and promises great hopes for the future as well, stated Tony Morriss, an ANZ Bank strategist.
No wonder, this optimism in Australian job scenario has put pressure on the Reserve Bank of Australia to raise rates of interest during the next policy meeting scheduled to be held on March 2, 2010.
With further assurances from Julia Gillard, the Deputy Prime Minister, to extend continued support to the Australian job market to increase the number of jobs available, the boom is going to touch new highs in Australian employment market.