The chief of Australia's central Bank on Friday declared unemployment figures on Friday. Figures expected were at 6% but the actual came out to be lower than expected. The chief further intimidated lawmakers that his focus had to renewed economic expansion from the earlier task of just the crisis management.

The governor of Reserve Bank of Australia, Glenn Stevens believed that Australia had a relatively mild economic downturn than other major economies. He stated that the country was coming out of that downturn to a very strong position which he said is different from other economies.

He said that the figures of unemployment are really good even if compared to good times a few years ago, forget the times of the tough recessionary period, he said. Government had earlier forecasted a rate of 6.75 percent after the 8.5 percent forecast. But the actual figures proved the government wrong and were 5.3%, which is labeled as a significant drop.

Stevens further stated that the country has had the smallest recession, when major countries argue that this had been their biggest recession since World War - II. As the economy is expanded Stevens ensures that he would try his best to curb inflation.