Australian employment market 'to defy gloom'

Those who are thinking about pursuing risk analyst jobs or jobs in tax down under may be interested in a new economic forecast that predicts Australia is set to buck the global downturn by generating "strong" employment growth into 2009.

According to newspaper the Age, the prediction comes from consultancy firm Access Economics, which sees immigration as the key driver that will keep the economy up while the rest of the world hits a slump.

In its quarterly Business Outlook, the Canberra-based firm says migration into Australia will hit record levels in the current financial year, with 195,000 new arrivals - many of them skilled workers - driving the employment market.

The company says the federal government's more gloomy predicts of a "sharp" slowdown ignore this key stimulant for growth, alongside the effects of its own tax cuts and plans for increased investment from industry.

In 2008-09, Access forecasts growth of 3.3 per cent in GDP, compared to a prediction of 2.75 per cent from the Treasury, the publication said.

Access Economics was founded in 1988.

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