More Jobs for Aussies as Unemployment Rate Slides in Sept
The country's unemployment rate declined to 5.2 percent in September as employers from the private sector employed more people and the dollar went up from $US1.015 before figures were made public to $US1.0236.
The government under Prime Minister Julia Gillard has been working hard to keep jobs and prop up the business sector with its "Keep Australia working" program that was launched in 2009.
Australia's Bureau of Statistics disclosed that total employment increased from 20,400 to 11.451 million last month.
Earlier, economic analysts projected a 10,000 rise in employment and an unmoved jobless rate of 5.3 per cent.
Local working advisory committees have been put up by the Gillard administration to develop key regional employment plans while job expos and forums were held in places hardest hit by the recession.
In Queensland, the jobless ratio decreased to 5.4 percent from a high of 6.3 percent in August but the situation was not as bright in South Australia, Victoria and new South Wales as unemployment increased, according to the Sydney Morning Herald.
The country's employment market is relatively robust but ran into some problems recently due to an erratic economy and intensifying global insecurity.
During the first 6 months of 2011, only 21,500 net jobs were created, a strong reduction from the 118,800 jobs generated during the previous six months as private corporations became more guarded in hiring additional employees.
The good news is that consumer and business confidence improved because of hopes of rate relief from the Reserve Bank.
Retail sales posted their second increase in two months in August further indicating that the domestic economy was gaining some headway.
Even with encouraging jobs figures, financial markets still perceive a rate cut in November.
The Sydney Morning Herald reported that "interest rate futures indicate a two-in-three chance of an easing next month, down sharply from 111 per cent before the jobs data was released."
Economic analysts predict that the RBA may ultimately lift rates because of the positive performance of the nation's economy.