Despite all signs pointing to an economic recovery, Prime Minister Kevin Rudd has warned there will be further job losses.
Recently released economic data has proven to be quite mixed as both consumer and business confidence rose substantially in August, while retail sales fell 1.0 percent in July as the impact of the Federal Government’s cash handouts faded.
Rudd’s comments came before the ABS labour force data for August was released, which revealed unemployment crept towards six percent, levels not seen in over six years.
While Rudd acknowledged the fact that Australia is weathering the global economic recession better than most economies, he is still concerned about the “further loss of jobs in Australia because of the impact of that recession.”
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