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Concern Australian economy is facing slow-down

The boom-time economy in Australia could be facing a slow-down. The government is trying to cont...
Newstalk
Newstalk

10.45 30 Aug 2012


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Concern Australian economy is...

Concern Australian economy is facing slow-down

Newstalk
Newstalk

10.45 30 Aug 2012


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The boom-time economy in Australia could be facing a slow-down.

The government is trying to control inflation by bringing down interest rates.

However there are concerns that the country could be becoming overly-dependant on mining.

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Prospects are still good for those Irish workers who are established there with unemployment levels remaining steady at 5% but there is a warning that could rise.

Neil Hume is the Australia-Pacific correspondent for the Financial Times.

He says employment and growth has come from mining projects established in recent years but there are very few new projects being signed off on now.

However he adds that employment levels are still high and there has been no surge in the numbers of jobless.

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