Australia’s employment rate is expected to remain strong despite evidence of a slowing economy, the latest Australian Chamber of Commerce and Industry (ACCI)/ Westpac survey today revealed.
According to the report, business expectations have declined to their lowest level since March 2003 and investment projections have softened significantly; manufacturers however are still positive about the labour market.
“The June quarter 2008 survey indicates a continuing modest deceleration of domestic economic activity. The manufacturers surveyed remain modestly optimistic in respect of their own firms and the outlook for jobs growth is positive,” said Greg Evans, director industry policy and economics, ACCI.
The report noted that while labour market composite figures were up on the last quarter and are expected to remain strong, there is evidence however of a gradual employment growth slowdown.
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