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Australia’s Budget Will Forecast 500,000 New Jobs, Swan Says

Australian Treasurer Wayne Swan said next week’s budget will forecast the creation within two years of 500,000 new jobs that will reduce the nation’s unemployment rate to 4.5 percent.

The government will include incentives in its May 10 budget encouraging companies to employ people from outside the main workforce, including older Australians, Swan told Channel 10 television’s “Meet The Press” program yesterday. The jobs are likely to be created by May 2013, he said in a separate statement after the interview.