Significant rise in full-time employment in OZ

According to the data released by the ‘Australian Labour Force’, full time employment showed an appreciable growth and increased by 35,400. There was also a rise in the part-time employment opportunities which increased by 5,200. The response of the Australian economy is significantly promising keeping in view the fact that the economists had feared a decrease of nearly 10,000 jobs in the current year.

The unemployment rate in the month of September has been registered to be 5.7 percent, which is nearly 0.3 percent less than what was estimated by the economists.

Moreover, there has also been an improvement in the employment rate, which showed an increase of 40,600 while the participation rate was 65.2 percent.

Another positive point favoring the Australian economy has been the fact that the Australian Dollar did not show any signs of weakening. This has resulted in boosting the confidence level of the consumers.

No wonder, the Reserve Bank of Australia (RBA), taking a clue from the positive developments in the country, raised the cash rate to 3.25 percent, an increase of 25 basis points.

With such a positive response of the economy, the nation is likely to regain its position of being a highly preferable destination for people willing to work as skilled migrants in the country.