The rate of new job creation in Australia hints at a V-shaped recovery, it has been said.
A new job in Australia is created every 30 seconds, it has been revealed.
Some 140,000 positions were made in the first five months of 2010, according to the Age, corroborating talk of a V-shaped recovery and driving unemployment down to 5.2 per cent.
This is "tantalisingly close" to the five per cent rate identified by the treasury as "full employment", the news provider continued.
Beneath this, inflation will grow and interest rates climb, it explained.
Shadow treasurer Joe Hockey said the low unemployment rate is excellent but suggested that "further increases in interest rates will be laid squarely at the feet of the Rudd government''.
The Reserve Bank of Australia is "just one uncomfortably high inflation reading away from the next rate hike'', added BT economist Chris Caton.
Queensland, Victoria and New South Wales have seen most of the new jobs created this year.
Posted by Craig Francis
A new job in Australia is created every 30 seconds, it has been revealed.
Some 140,000 positions were made in the first five months of 2010, according to the Age, corroborating talk of a V-shaped recovery and driving unemployment down to 5.2 per cent.
This is "tantalisingly close" to the five per cent rate identified by the treasury as "full employment", the news provider continued.
Beneath this, inflation will grow and interest rates climb, it explained.
Shadow treasurer Joe Hockey said the low unemployment rate is excellent but suggested that "further increases in interest rates will be laid squarely at the feet of the Rudd government''.
The Reserve Bank of Australia is "just one uncomfortably high inflation reading away from the next rate hike'', added BT economist Chris Caton.
Queensland, Victoria and New South Wales have seen most of the new jobs created this year.
Posted by Craig Francis
