Fed:Employment growth jumps sharply in November =2

AAP General News (Australia)
12-07-2006
Fed:Employment growth jumps sharply in November =2

"The great news is there are more Australians in work than ever before," Treasurer
Peter Costello told reporters.

"There is extraordinary jobs growth in the Australian economy. We now have about a
quarter of a million new jobs in 2006, and about 200,000 jobs since the introduction of
Work Choices."

However, the tightness of the labour market does leave open the risk of a further interest
rate rise next year, or make talk of a rate reduction late next year premature, economists
say.

"Ongoing tightness in the labour market suggests that the balance of risks to monetary
policy remains tilted in the direction of a further hike," said ANZ senior economist Mark
Rodrigues.

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