The market of labour market is weaker than what latest figures suggest, according to the recently published figures. Unemployment of the country has gone up. This is due to the increase in labour force from 65.30 percent to 65.45 percent.
The progress of employment is currently estimated to be 303,700 instead of 256,200 for 2007, 194,100 instead of 136,000 in 2008, and 135,000 instead of 114,100 in 2009. The employment progress in the initial half of the current year is expected to be 156,200.
The rate of growth of the employment-age population for June and July was 2.1 percent on a yearly basis, according to ABS figures.
A growth rate of population as low as 1.5 percent has been suggested according to which there will be a 15,000 rise in reality instead of the 23,500 rise in employment, which implies that the growth in employment is weaker than what was earlier estimated and even than the current estimation.
It is expected that policy-makers will take the employment data elaborately and not start inducing random thoughts and opinions that the labour market is producing more employment.
