Loading ...Australia has a strong foundation for continued growth with low inflation, relatively low unemployment, high gross domestic savings and a strong banking system. The World Bank (2011) ranked Australia’s over US$1.4 trillion Gross Domestic Product (GDP) thirteenth out of 192 countries studied. The Legatum Institute ranked Australia’s economy tenth out of 142 countries it studies on its Economy Sub-Index (2012).
The Australian economy is dominated by its service sector, which represents over 70 percent of GDP. Australia’s natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium and renewable energy sources. The mining and mining-related sectors represent the next largest share of Australia’s economy. Exports in 2012 were US$325 billion and imports US$245 billion. Australia’s top trading partners are China, Japan, South Korea, India and the United States. The Reserve Bank of Australia reduced its economic growth and inflation forecasts for 2013. Mining investment is expected to peak in 2013, which may be a drag on the economy.
Australia continues to show some economic strength, however. Its economy, although revised downward, still is forecast to grow 2.5 percent in 2013, while keeping inflation low at just 2.2 percent. Unemployment remains low compared with the rest of the world at around 5.4 percent.
Finding a Job
If you are planning a move to Australia, you will find a national economy that is strong and stable. However, you should know that although the government places a high premium on skills, it enforces stringent measures to keep Australian immigration levels under control. So while Australia is a popular destination for expatriates, a strict screening process picks out those professionals with the skills desired to keep the economy in good health, the population levels low and the quality of life high in Australia.
If you are interested in working in Australia, you may want to explore opportunities in mining and construction, both booming industries with many opportunities and not enough people to fill open positions. As a result, individual companies and even the government have started going out of their way to find foreign workers who can satisfy skills shortages. Currently, the highest demand jobs in Australia are: business analysts, project managers, recruitment consultants, business development managers, receptionists, payroll officers, management accountants, financial accountants, registered nurses, accounts payable officers, electricians, drivers, administration assistants, account managers and executive assistants.
Finding a job in Australia is a bit easier than many other countries since we share a common language. Job search strategies also are similar to the U.S. Industry associations are an excellent way to find out about international opportunities in your field. Also, check the Australian government resources. JobSearch is Australia’s largest free online jobs website and is funded and operated by the Australian Government as a free service to assist job seekers. Check the job listings in national newspapers like The Australian or the Sydney Morning Herald. Send unsolicited applications to targeted employers and contact temporary work or staffing agencies online or onsite. Most importantly, use the Internet. Craigslist is available for all major cities in Australia. Also, check out local online forums and bulletin boards in the area you have chosen.
To get you started, click on the “Work in Australia” bar below “More Australia Links’ for a list of websites that may help you in your job search.