A Strengthening Labour Market Labour market conditions in Australia are expected to strengthen over 2002-03. Australia's recent strong economic performance has seen the unemployment rate decline through the creation of new jobs. The unemployment rate is expected to fall to around 6 per cent in the June quarter 2003.
With economic growth strengthening and employers becoming more confident, employment is forecast to grow by around 1 per cent in 2001-02 before strengthening to around 1¾ per cent in 2002-03.				employment growth set to strengthen in 2002-03
Between March 1996 and April 2002 the number of people employed has risen by around 928,300 or 11.1 per cent.				growth in jobs has been strong under the present Government
The moderation in employment growth following the slowing in activity related to higher oil prices, the completion of Y2K related expenditure and the Olympics are now behind us. This, combined with strong GDP growth, will enable employment growth to be around the long-run trend over 2002-03.				the moderation in employment from one-off factors is behind us
With the more positive outlook for employment growth, the unemployment rate is expected to decline steadily over the forecast period. This would be consistent with previous periods where unemployment resumed a downward trend following a brief pause.				the unemployment rate is expected to steadily decline
The unemployment rate is expected to trend down gradually over 2002-03 to around 6 per cent by mid 2003.				to around 6 per cent in the June quarter 2003
Unemployment Rate