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Australia’s Job Market Increased With 15,000 Jobs: Report Says

Australia’s Job Market Increased With 15,000 Jobs: Report Says

Apr 17,2015

Australia has hit the headlines yet another time for all good reasons. According to the recently revealed employment data of Australia, the labor market in the country has augmented with 15,000 jobs. This means that the jobless rate would stay stable at 6.3%.

Recently, a major focus has been on the increase in jobless rate to 12- year highs. However, Ivan Colhoun, chief economist of NDA, Ivan Colhoun, said that more emphasize needs to be paid on job instead of jobless.

Ivan Colhoun, said that at present, Australia has a high level of employment, with nearly 11.7 million individuals employed, 151,000 more than in February last year.

It’s significant to the economy as the current increase in jobless is very diverse from earlier periods where jobless has risen.

He said that in the recent times, the employment growth in Australia remained positive, which means that the rise in jobless reflects the country not producing enough jobs for new migrants.

He added that this sort of unemployment, when surely a policy and potential social issue, is not damaging for the economy. It’s a very diverse take to the conventional wisdom permeating markets at the moment.

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