Australia’s job market outperformed other G7 countries in the latter half of 2022 despite facing an aggressive interest rate hike cycle and softening economic conditions.
A new Treasury analysis of the Australian Bureau of Statistics (ABS) workforce data reveals that 234,000 jobs were added to the Australian economy between May and November 2022, representing a 1.7 percent rise.
Despite some differences in data collected from other countries, the analysis shows that Australia had the highest growth in employment among the G7 nations during the period.
Specifically, the United States saw a 1.26 percent growth, while France’s labour force grew by 0.4 percent (September quarter), followed by Italy at 0.37 percent, Germany at 0.3 percent, and Canada at 0.13 percent….