Archive for October, 2008

If the global economic crisis pushes unemployment higher – as it seems certain it will – Australia’s immigration program has been earmarked for cuts. Australia’s Immigration Minister Chris Evans is waiting for next month’s mid-year economic report before making a final decision.

Australia has often claimed to be a nation of ‘relaxed’ drivers. If you want to escape revheads, move to Perth. Roadhogs will feel at home in Adelaide. Calm drivers will find kindred spirits in Melbourne but won’t feel at home in Sydney.

Australia has placed first in a prosperity index of more than 100 countries. A combination of the country’s economic competitiveness and liveability pushed it to the top of the tree.

The Australian government has announced a significant cash injection to help first time buyers. The stimulus package “is designed to support activity in the housing sector because the housing sector is critical to the economy”.

Australia’s Prime Minister Kevin Rudd has indicated there might be a reduction in places in the country’s skilled immigration program. Mr Rudd said current numbers are higher than last year’s and the increase had been made on the basis of employer demands for more skilled workers.

Australia lost 15,400 full-time jobs in September, the worst performance in two years. With demand slowing, Australian businesses have been cutting employee numbers and the unemployment rate has risen to 4.3%.

At its meeting today, Australia’s Reserve Bank decided to cut its key interest rate sharply from 7 percent to 6 percent. It does not look likely that Australia’s retail banks will pass on the full one percent cut to their customers.