22 July 2008

Forecaster: Australian economic climate hot

Access Economics’ quarterly assessment confirms widespread convictions that the Australian economy is ploughing forward despite "global financial volatility", reports ABC news.

Chris Richardson, Director of the company, says Australia can revel in its high-performing economy despite the worsening state of the global market. 

"There are the tax cuts, there’s a lot of job growth in Australia, wage growth is more than solid – that combination means that spenders still have a lot of financial fire power behind them," he said.

The economic consultancy said Australia’s mining industry is responsible for the economic boom, as it is increasingly generating immense fiscal and employment benefits for the country.  

The Government is recruiting for overseas workers to migrate to Australia and work in the mining and construction industry, as a massive skills shortage is holding back development plans.  Foreign workers looking to fill the skills shortage in Australia can apply for various Australian visas, including working holiday visas and skilled migration visas.   Recent changes to the working holiday visa program mean that travellers can apply for a second working holiday visa if they have worked in construction in regional Australia for three months or longer.

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The Australian Visa Bureau is an independent consulting company specialising in helping people apply for an Australia visa.

Article by Jessica Bird, Australian Visa Bureau.