Australian Economy has always remained one of the strongest aspects of the country. Various reports from International sources are affirming on this fact. The best part is that the country managed to rise faster as compared to other countries, especially after the Great Economic Catastrophe that occurred recently!
Australian Prime Minister Kevin Rudd in one of his statements stated that: “We currently, among the major advanced economies, have the fastest growth. We have also the second-lowest unemployment levels and the lowest debt,”
Here is what the other facts have to say:
- Australia’s unemployment rate remained at 5.8 per cent for July, despite various speculations that the seasonally adjusted rate would reach at least 6 per cent.
- Part-time employment increased 48,200 to 3.203 million. On the other hand, full-time jobs are dropped by 16,000 to 7.590 million. These facts are giving an indication that the employers are cutting hours rather than positions.
According to the Deputy Prime Minister Julia Gillard, “The figures indicate that Australian companies have taken sensible steps to retain skilled workers where possible and in some cases offering for workers the option of converting to part-time employment,” she said. “It’s far better for a working person to be kept in a job than to be unemployed.”
Here are some other facts on the Australian Economy:
- The Housing aspect is expanding (http://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyReleaseDate/05DBCE56402EC566CA25723D000F2999?OpenDocument) in a major way.
- Business investments are increasing (http://www.abs.gov.au/ausstats/abs@.nsf/mf/5625.0?OpenDocument) at a decent pace.
- Real retail sales are increasing (http://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyReleaseDate/4A7B3A600C3DE89FCA2574F300154B48?OpenDocument).
On a promising note, Australia is improving in terms of Trade, Employment factor, Real Retails Sales, and so on. All in all, its economy is on a roll – Thanks to the mentioned aspects!
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