Employment in Australia plummets, but economy still strong according to Australian Finance Minister

The Australian economy is still in a strong position, according to the Australian Finance Minister. However, employment numbers have dropped unexpectedly, according to data from the Australian Bureau of Statistics (ABS). In December 2022, employment numbers were down 15,000 positions from November 2022.

Economists had predicted that the number of jobs would increase by about 22,000 positions, but this did not come to fruition. Despite this, the official unemployment rate remained stable at 3.5%.

Despite the drop in employment numbers, the Australian economy is still in a strong position, despite global economic turbulence. The government is expecting a global economic downturn, which, combined with high interest rates, could slow down the Australian economy in 2023.

Leave a Reply

Change Language
%d bloggers like this: