Australian Prime Minister Scott Morrison says it’s been one of the most remarkable performances by Australians as the unemployment rate falls again to 5.8 per cent from 6.4 per cent for the month of February, beating expectations. This has happened in less than 12 months from when the recession began, caused by the COVID-19 pandemic as there are now more jobs in the Australian economy than there were before the pandemic.
If we can be of any assistance, please do not hesitate to contact us anytime (use the form below).
February unemployment figures to be released shortly are expected to fall from 6.4 to 6.3 per cent as an anticipated 30,000 jobs are added to the economy. Since the beginning of 2021 the unemployment rate has fallen slightly each month as the public adjusts to living under coronavirus restrictions. Economists believe the unemployment rate will hover around this level until June when it will once again fall.
The WA economy is recovering from the effects of the COVID-19 pandemic and grew in real terms by 1.4% in 2019-20, the only state economy along with Tasmania to grow during the year from higher iron ore, gold and nickel prices etc. resulted in the mining industry’s share of the state economy rising to a record high of 43% in 2019-20.
The WA labour market has largely recovered from the impact of COVID-19. By January 2021, WA had regained 86% of the decline in employment between February and May 2020. Employment prospects remain positive with internet job vacancies reaching 21,415 in January 2021, the highest level since October 2012 and 31% higher than in January 2020. The large increase in WA’s job vacancies reflects both the demand for workers from a recovering economy and labour shortages in parts of the economy that had relied on overseas and interstate workers.
The construction of major iron ore projects, which have supported business investment in recent years, will be complete by 2022 and there is also growing interest in investment opportunities in emerging sectors such as hydrogen and renewable energy.
The WA Government’s Recovery Plan also includes actions to deliver long term objectives such as investing in new technologies, building community infrastructure and unlocking barriers to investment. It also provides support funding for the WA International Education Recovery and Renewal Plan, which was launched in December 2020 and articulates proactive initiatives to support the international education sector to reposition, recover and achieve long-term sustainability.
Contact Us now for further information.
Western Australia has an export-oriented economy, with almost 60% of Australia’s annual exports of goods originating from the state, including minerals, petroleum, agri-food and specialised manufactured goods.
The state also attracts many international visitors and students each year. These export industries support employment across the WA economy.
The Department of Jobs, Tourism, Science and Innovation publishes the following profiles on WA’s economy and international trade.
Contact Us now for further information.
Global credit rating agency S&P deemed WA’s economy the best in the world over the past 12 months, outsmarting North Rhine Westphalia in Germany which came second place.
On the back of a mining boom WA has performed better than any other state or region in Australia or the world over the past 12 months since the pandemic hit.
This comes as consumer confidence in WA is also at an 11-year high. WA is expected to run a 2020-21 cash deficit equivalent to 0.6 per cent of state revenue by the end of the financial year.
The WA Premier also stated that although the international borders will stay in place for the rest of this year some tourism businesses will find it difficult, although the Federal government is expected to prioritise some skilled visas and employer sponsorship.
So far, WA has vaccinated more than 7000 people against the coronavirus, and recorded no new local COVID-19 cases with only two in hotel quarantine last Monday.
Prime Minister Scott Morrison (Photo by Sam Mooy/Getty Images)
Australia’s prime Minister Scott Morrison is expected to announce a reboot of Australia’s immigration program that will use temporary visas to fill roles in professions like nursing and aged care.
Once migration resumes, it will be adjusted to meet the needs in areas of burgeoning demand such as nursing and aged care, where not enough local workers can be found.
Interestingly, the most recent skills shortage report from the federal government showed there was no shortage of nurses prior to the COVID-19 pandemic, but obviously, that is not the case now.
The supply of nurses has increased in recent years, with nursing graduate numbers and nurse registrations at historically high levels.
Are you thinking of becoming a nurse or pursuing a career in aged care? If so, check out our Student Visa page HERE