Unemployment in Australia rises
Unemployment in Australia increases to 5.4% following national election.
Recent official figures released show that Australia’s rate of unemployment increased to approximately 5.3% in July 2010. This represents an increase of 0.2% from June 2010, approximately 24,000 jobs. An increase in unemployment was unexpected by analysts in Australia considering it’s economy was relatively unaffected by the financial crisis.
These figures are likely to have a negative political effect on the current government close to the national elections. However, some political and economic specialists attribute these figures to an unexpected increase in population figures and a subsequent larger potential workforce. The latest opinion polls in Australia show that the Labour party are currently in the lead, however, not by a large minority.
