Skilled workers planning of migrating to Australia have good news and that is three times the number of jobs are added in the country as forecasted in July. Though the unemployment rate remained at 5.2%, the economy added 41,400 new jobs in July. Economists forecasted the possible addition of 14,000 new jobs but in reality, the country added three times more jobs. The workforce participation rate increased slightly to a new high of 66.1%.
Employment growth has also increased the need for hiring. The need for skilled workers in the Australian labour market has led to the hiring of workers.
RBA Chief, Philip Lowe says that the increase in workforce participation and hiring speak of a healthy labour market. The underemployment rate is currently at 8.4% and underutilization rate is at 13.6%.
The most number of new jobs are created in Queensland, Victoria, and New South Wales. These states created thousands of new jobs for the migrants applying for permanent residency.
So, if you are looking forward to applying for Australia permanent residency visa as a skilled worker, this is the best time as many new jobs are created. For further information in this regard, contact our team of visa and immigration experts.