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Job market resilient

By webmaster
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Consecutive interest rate rises earlier in the year have had little effect on the job market, with the unemployment rate remaining stable at 5.1 per cent.

Data from the Australian Bureau of Statistics found more than 45,900 jobs were created last month.

The male unemployment rates remained stable at 5.0 per cent, while the female unemployment rate decreased 0.1pts to 5.2 per cent.

Treasurer and deputy Prime Minister Wayne Swan said Australia’s stable unemployment rate highlighted the country’s resilience to the effects of the global financial crisis.

“Together with today’s strong employment figures the IMF’s report shows the Australian economy is still well ahead of the curve and continues to benefit from the government’s strong economic management,” Mr Swan said.

Yesterday the International Monetary Fund (IMF) upgraded its world economic growth forecasts for this year because of strong conditions among Australia’s Asian trading neighbours.

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