06 September 2010
Economic growth boosts work prospects for skilled Australian visa holders
Prospects for migrants looking to work in Australia were boosted last week as figures released by the Australian Bureau of Statistics (ABS) revealed a 1.2% economic growth in the quarter to June 2010, the fastest in three years, and points to an acceleration in growth following a 0.7% rise in the first quarter of the year, and maintaining an upward trend that has seen an increase in growth for five consecutive quarters.
Growth appears to have been unexpected by some economists, with Bob Cunneen, senior economist with AMP Capital Investors, calling the numbers “surprisingly robust” and Treasurer Wayne Swan describing the growth as “outstanding”.
The ABS confirmed that production in construction, mining, professional and technical services have all increased in the second quarter of 2010. The figures also show a rise in gross domestic product of 3.3% for the year through to June. This indicates a larger-than-forecast rise in all goods and services produced by the economy.
Such economic growth will be welcome news for those looking to work in Australia, and further confirms Australia’s position in weathering the global downturn better than most. Australia was the only country in the developed world to announce economic growth in the first half of 2009, and the economy has been growing steadily since that time.
For skilled migrants looking at working in Australia, this will be welcome news.