The unemployment rate was unchanged at 4.9% in June, the participation rate edged up from 65.5% to 65.6% and the working age population rose by 19,600, all of which would point normally towards robust robust health for employment.

However, economists and market experts have hinted at possible dark clouds on the horizon. Matthew Tukaki, CEO of the Sustain Group has welcomed the continued stabilisation of the Australian unemployment rate but indicated Australian business, the Government and community needed to be careful that the two speed economy did not pull in one or other direction.

"I have no doubt that over the next two to three quarters we will see a further lowering in the unemployment rate, but not by large percentages. I would expect that as we track to the end of the year we will be looking at a rate of between 4.5 and 4.7%. One of the most significant things about our economy is that while it is continuing to do well in light of events offshore, the reality remains we have some industries that are growing and we have some industries that are declining. The other reality is we have some States that will perform well and others that will struggle over the next three quarters such as New South Wales." Tukaki said

"If we have a look at the two speed economy we see continued forecast growth and investment into the mining sector - as an example - and, more specifically into Western Australia. 63% of investment (according to the WA Department of Mines and Petroleum) of new private capital that came into Australia was targeted towards WA. In 2011 there is a mix of $170bn in projects on the table which means as these start coming off the drawing boards we will see a significant increase in skills demand in the West into 2012. We need to be absolutely aware that even if 50% of those projects came to fruition, the demand for workers across trades and other categories would cause peak skills demand in the economy." Tukaki said

Tukati said the other of the economy, with sectors not influenced by the mining boom, are at the behest of global circumstances - in this case the travel and tourism sectors.

"In those sectors we are seeing a continued drop in net visitor arrivals into key regional tourism destinations which in turn sees a drop in revenue flowing through that supply chain. Another sector which has been experiencing a decline is the thousands of organisations - both directly and indirectly - in the International student market. So, for those sectors not involved or attached to the mining boom, employment and business conditions are linked to the recovery of the global economy or one off issues such as the treatment of international students." Tukaki said

"The challenge for the Australian economy will come in 2012 when other sectors will begin the road to recovery which, in turn will put more pressure on skills supply and demand. With that in mind we need to look very carefully at the skills we are producing and where, what skills will be required and where and what the timeline of supply to the market where the skills will arrive."