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ISCOVER
Staff Reporter
Australia has recorded a solid year for full time job creation, as businesses aggressively hire new staff to cope with the biggest commodities boom in the last century.
According to the latest figures from the Australian Bureau of Statistics, full-time employment jumped 55,100 to 8.033 million in November, taking the unemployment rate down to 5.2 per cent.
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The participation rate in November was a record high 66.1 per cent, up from an unrevised 65.9 per cent in October.
This record low unemployment rate could encourage the Reserve Bank to lift rates sooner rather than later, as demand for higher wages could ultimately add to inflationary pressures.
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