Australian minister welcomes latest jobs data

17:10, September 09, 2010      

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Australian Employment Minister Simon Crean on Thursday described the latest jobs data as " outstanding," saying it was a result of the government's successful economic management.

Australia's unemployment rate declined in August to a seasonally adjusted 5.1 percent, according to data released Thursday by the Australian Bureau of Statistics. The Bureau of Statistics figures showed 53,100 full-time jobs were created in August, the biggest monthly increase in more than two years, with part-time employment easing by 22,100, leaving a net gain of 30,900 positions.

"If one looks at the past 12 months where almost 350,000 jobs have been created, three quarters have been full-time," Crean told reporters in Canberra.

"This is another demonstration of the strength of the Australian economy ... despite the still worrying signs in other parts of the world about the hesitancy state of the recovery other there."

The strength of recent economic data has raised speculation that the Reserve Bank of Australia will need to lift interest rates in coming months, and Crean said it was up to the independent central bank to make a decision on rates.

"I think what is important in this is that despite strong jobs growth, it has not led to inflationary pressures outside the Reserve Bank's (inflation) band," he said.



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