Jobs market rebounds

The unemployment rate has defied predictions of a slump, falling to 5.7 percent, figures from the Australian Bureau of Statistics show.

The market has forecast that the unemployment rate would rise 5.8 percent to 5.9 percent, with 15,000 jobs lost.

According to the ABS, the rise in employment was driven by an increase of 30,800 full-time time jobs to 7.6 million. The number of jobless people fell by 13,300 to a total of 653,100 unemployed.

are all signs that the Australian economy is back on track.

Head of Drake International, Matthew Tukaki said the fall in the unemployment rate is a sign that the Australian economy is back on track.

“It’s great to see Australia being a world leader in the recovery,” he said. “There is a general consensus that Australia is poised for a new period of growth and this means positive hiring intentions for 2010.”

The unemployment rate has defied predictions of a slump, falling to 5.7 percent, figures from the Australian Bureau of Statistics show.

The market had originally forecast that the unemployment rate would rise from 5.8 percent to 5.9 percent, with 15,000 jobs lost.

According to the ABS, the rise in employment was driven by an increase of 30,800 full-time time jobs to 7.6 million. The number of jobless people fell by 13,300 to a total of 653,100 unemployed.

Head of Drake International, Matthew Tukaki, said the fall in the unemployment rate is a sign that the Australian economy is back on track.

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