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Jobless figures for July remain steady -

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Jobless figures for July remain steady

Broadcast: 07/08/2008

Reporter: Leigh Sales

Australia's slowing economy is yet to make an impact on national employment figures, the jobless
rate for the month of July remains steady at 4.3 per cent. But the number of new jobs was greater
than expected at 11,000. The Treasurer says it's a sign the slowdown isn't as bad as some believe.

Transcript

LEIGH SALES, PRESENTER: Australia's slowing economy is yet to make an impact on national employment
figures, the jobless rate for the month of July remains steady at 4.3 per cent. But the number of
new jobs was greater than expected at 11,000. The Treasurer says it's a sign the slowdown isn't as
bad as some believe.

WAYNE SWAN, TREASURER: These employment figures are welcome given that we face the most difficult
global economic conditions in 25 years. These figures are also welcome because, I think, they put
into perspective some of the more pessimistic comment on the economy in recent days.

LEIGH SALES: Despite the result, economists still expect an interest rate cut in the next few
months.