Full employment expected by 2011

by 14 Apr 2010

Unemployment is set to drop down to four per cent by the end of next year as trading conditions continue to improve for Australian businesses, according to a new survey by The National Australia Bank.

NAB’s Monthly Business Survey current conditions index for March climbed five points to 13, showing there are significantly more businesses enjoying an improvement in conditions than those noting a decline.

Trading and employment both rose seven points and the report suggested that unemployment is expected to be around 4.5 per cent by end of this year and around four per cent at the end of 2011.

Annual wages growth increased to 1.6 per cent in the year to March – with noticeable reacceleration in mining wages.


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