The unemployment shark is back attacking the economy.It is hurting the very essence of the Australian system. Australian economy has been robust and riding the success wave. But the latest quarter has thrown up new challenges.Inflation is increasing due to destruction of food crops due to global climate changes.
New budgets and economic packages can have a significant effect on the behavior and outcome of markets. Not only in response to government packages, but also reacting in real time as analysts try to predict how certain events will affect the outlook of their organisations. This is where the economic machine fits alongside geo-political influences as the relationship between nations, in whatever sense, is crucial to the performance of individual markets. And this is where an equilibrium must be found between politics and economics, so the markets can behave in ways conducive to business. Perhaps this is why when a situation such as Ukraine’s happens, nations are slow to respond so they don’t upset power balances too much. The mixture of a new budget for us, the crisis in eastern Europe and unstable financial systems in Asia, mean equilibrium must be found. However, power balances are all too hard to control. Whilst economies, with their shares and stocks fluctuating, governments want the best for their countries which often undermines the interests of big corporations.
The power balance is shifting and the need of the hour is policy revision. New policies will act as the Noah for the Australian economy. It will drive it forward to success. Asia is also picking up the pace after an year of slack. So, the things look bright but edgy,
Rapid population growth, foreign investments are the factors pushing the Australian economy ahead. With increase in trading partners the Economy looks to be speeding ahead. This is the era for growth for Australia.
The investors are the driving force behind the rosy scene. They seem confident and willing to invest more resulting in around 4 percent growth. The major trading partner countries are recovering at a normal pace now. The economy is picking up in Asia, and Asia is one of the major export markets for Australia. Australia is one of the hot destinations for immigrants, which adds to the skill level of the workforce. Lesser exports to China have been offset by increasing demands in East Asia.
The increasing House prices in Australia
Household incomes are rising and will support the growing needs for housing. The construction industry is likely to have more appreciated growth. In spite of high rates for property, there is no case for alarms. The debt payment is having very healthy trend. Mortgage credit which has put down major economies is hardly a factor in Australia.
Jobs available to skilled class has shown a growth of 2.7 percent indicating the growth in the economy. The unemployment rate is one of the lowest in the last decade at 4 percent.
It is one of the few economies across the globe where lending cost has gone up. The hope is that the upswing will continue further adding to wealth of the common Australians.
Tourism is also supporting the economy well. With major tournaments like Australian Open Tennis and the World Cup in early 2015 will add to the economy. The early legislations protecting the environment are bearing fruit. People from all over the world are coming over to experience the unique wild life and the scenery.
Australian economy is rocking at the moment!!!!!!!