Australian employment increases May 2010

This graph from the Australian Bureau of Statistics shows the increase in Australian employment since May 2090. As a consequence, the Australian unemployment rate as measured by the statistics has dropped to 5.2 per cent.

In a post on my personal blog, Economic clouds gather, I wondered about the sustainability of the current Australian recovery.

I am still wondering. However, for the moment things remain positive.

Employment is generally a lagging indicator. The continued increase in employment should feed into further growth through increased demand. 

Increase in the New Zealand cash rate

The New Zealand Reserve Bank has increased the New Zealand cash rate because of the strengthening of the domestics economy. Of more interest, was the Bank's perception of the economic outlook.  This is broadly positive.