Australia’s hiring boom looks set to continue as the economy expands and employers hired an estimated 17,500 extra workers in August. This is the tenth month in a row employment rates have gone up, following the 21,800 jobs added in July. The unemployment rate is around 4.3%, the lowest since 1974. In Australia & New Zealand Banking Group report released this week said that job-vacancy advertisements rose in August for the first time in three months as demand for labor increased. More than 141,000 jobs have been added to the economy so far this year. This is not quite as stunning as the 300,000 new positions created in 2006 but still indicates strong growth and great opportunities for skilled people.

New jobs, rising wages and income tax cuts, is helping fuel the economy’s expansion. The government has announced that gross domestic product grew almost twice as fast as economists expected in the second quarter. Consumer confidence is growing with retailers reporting higher sales, new shops opening and household spending up 0.6 per cent in the second quarter.

 

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