Australia’s position is in contrast to that of South Africa. Where the latter is suffering from deteriorating unemployment rate, Australia is moving towards increased employment rate.

Recently, the Australian Bureau of Statistics (ABS) revealed that in September, 20,400 people got jobs, which is a positive indication for the country’s economy. While announcing the good news, the bureau members were of the view that though they expected rise in employment, this much was nowhere within their dreams. Economists were of the view that they expected the number to be somewhere around 10,000, but it is more than double of what they forecasted. This step has reduced the country’s unemployment rate by 1% and now, the unemployment rate is at 5.25.

Economists said all the credit should go to the strong position of Australian Dollar, as due to increase in the value of Australian dollar, bonds were easily sold and companies hired more people. Rise in employment rate indicate robust economy.

Rise in jobs has helped people get home loans approved and the percentage has increased by 1.2 at 50,965, said the ABS.

It further reported that current statistics proved their poll wrong. According to the poll, job employment rate would have got meager, since New Year. These improvements would help the Reserve Bank of Australia maintain the current cash rate of 4.75, and the status would remain intact till first half of 2012.