Australia

Unemployment rate increases to 5.8% in the world’s happiest industrialized nation

For the fourth year, Australia has topped the list of the world’s happiest industrial country in the Organization for Economic Cooperation and Development’s Annual Better Life Index, ahead of Norway, Sweden, Denmark and Canada. The OECD ranks its members according to 11 different criteria, which it views as essential to a happy life and connected with the quality of environment, health condition, housing, personal security, work opportunities, income, education, skills, personal well-being, social relations, income and wealth. Australia called the lucky country has been classified within a list of 36 industrialized countries using the scientific research survey which help with identifying the essential factor contributing to happiness of nations through allowing persons to measure the importance of the criteria and to place a bigger value or a smaller value in each category. Greece has been ranked number 34 in this classification issued in mid May due to the suffering of its people from the lowest average of life satisfaction followed by Mexico ranked 35 where the major problem lies in the personal security and safety due to the rates of murder and assault crimes while Turkey has been ranked 36 owing to its people suffering from the problems of income and housing in addition to life dissatisfaction and non-balance between work and life. If we consider carefully the aforementioned data, we notice that it indicates in the aggregate that the Australian market enjoys prosperity and that it is the happiest and luckiest industrialized country. However, this prosperity does not reflect the figures of unemployment which has increased to 5.8% during the last month of April and this is an indicator regarded relatively high by the activists in the economic and financial field and translates only the contradiction of the economic and social conditions in Australia facing despite the indicators of prosperity and happiness, adverse situations caused by the decline in the investments in the natural resources and the cancellation of the activity of some companies in the Australian market amid instability of the economic activity and this is in fact a paradox raising many questions and discussion. Increase the trade exchange with UAE Unemployment rate increases to 5.8% in the world’s happiest industrialized nation Australia Business and Finance Club The happiest industrialized country in the world GDP growth The growth of economic and trade relations Trade of goods between the UAE and Australia exceeded 4.6 Billion Dollars , represented mainly in the food and agricultural products, allowing the possibility of developing these activities further in the near future. The food security in the UAE is an important issue, in addition to the education sector, where the State puts the Knowledge Economy and Innovation on the main priorities, while we hope that Knowledge Economy will contribute by about 5 % of GDP in the UAE. Australia and the Gulf Cooperation Council States (GCC) have similar advantages. However, they also share in some of the environmental constraints. Therefore, Australia occupies a suitable position and shares the region its superior expertise of the management of the best practices and innovative technologies ..