Australian Job Boom Sends Immigration ‘Wake-Up Call’
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Australia’s surging job market, capping its strongest quarter since 2006, signals the government may need to retreat from a campaign pledge to slow population growth as the central bank tries to control inflation.
The number of people employed rose 49,500 in September from a month earlier, almost 2 ½ times the median estimate in a Bloomberg News survey and the most since January, the statistics bureau said yesterday in Sydney. Full-time employment jumped 112,500 in the past two months, the biggest back-to-back increase since 1988.