The industry of Australia occupies a leading place in the economy of the country. All industries are quite well developed. Up to 1/3 of the active population of Australia is employed in the mining industry.
The economy of Australia ranks 18th in the world (the ranking of the economies of developed countries is presented at the link). Australia’s GDP is 919 billion Australian dollars.
There are industries of international specialization, the role of which in the world economy is much higher.
The labor market in Australia is in fairly good shape. According to the country’s leading experts, it may take another 1-2 years for wage growth to gain a sustainable impetus.
The highest demand remains for labor. In general, it exceeds average values.
The unemployment rate in the country has been 5.3% for 6 years, but in mid-2020 it rose to 7.4%.
