According to the latest figures released, Australia's job market has grown at a slow pace during the previous year till December.

The employment grew at 1 per cent in the country during the twelve months to December, which is slower than the population growth of 1.6 per cent in the country. The latest figures resulted in an increase in national unemployment rate from 5.3 to 5.4 per cent.

The latest data has indicated that the Reserve Bank might decide to cut interest rates further when it meets on 5 February, 2013. Experts say that the current year is expected to record slow employment growth and estimated that the unemployment in the country could reach 5.75 per cent.

The figures released by the Bureau of Statistics also showed that the total proportion of working population fell from 62.5 per cent in 2010 to 61.5 per cent in the previous year. According to the data, the state of Queensland recorded a fall of 8300 in total employment during the previous year. On the other hand, New South Wales gained 56,400 and Victoria 36,300 during the same period. Western Australia gained 59,400 workers in the year.

Employment Minister Kate Ellis said, "The Newman government in Queensland has presided over 65 job losses each and every day, an increase in the unemployment rate and a decline in workforce participation. In contrast, since the federal government came to office we have created more than 800,000 jobs."