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Australia's world-class rescue

17 Sep, 2009 08:41 AM
The Rudd Government's stimulus package is one of the best in the developed world at saving jobs, the Organisation for Economic Cooperation and Development says.

It comes as separate research suggests Australia is heading for sluggish growth through the rest of this year before a strengthening recovery in 2010, and survey results showing a big jump in business confidence in the ACT.

And United States Federal Reserve chairman Ben Bernanke said the recession was ''very likely over'' in the world's largest economy, but warned ''it's still going to feel like a very weak economy for some time as many people will still find that their job security and their employment status is not what they wish it was''.

The 2009 Employment Outlook, published last night, backed Prime Minister Kevin Rudd's claims his measures would stop up to 200,000 people from losing their jobs by the end of next year.

It said Australia's ''relatively large'' fiscal packages would provide a ''particularly strong'' boost to employment by keeping it 1.4 to 1.9 percentage points higher than it otherwise would have been, compared with an OECD average of a 0.8 to 1.4 point benefit.

For more, pick up a copy of today's Canberra Times.

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