09 October 2009

Jobless rate drops, Australian economy stimulus working

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The jobless rate fell unexpectedly in September, and the Australian government claimed on Thursday this was proof its economic stimulus measures were working.

Emigrate to Australia

The already low Australia jobless rate has dropped, proving the Australian economy is strong. There continues to be strong demands for skilled workers to emigrate to Australia.

The increase in employment came two days after Australia became the first advanced economy to raise interest rates since the global financial crisis.

The Australian central bank raised the official cash rate by 25 basis points to 3.25 per cent; up from a 49-year low reached with an aggressive series of cuts that the Government claims is helping fight off the worst global financial crisis since the Great Depression.

Unemployment in Australia now stands at 5.7 per cent, down from 5.8 per cent in August.

The numbers far outstripped economists' expectations and the Australian economy has defied recession, unlike many other developed national.

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