The national anthem of Australia "Advance Australia Fair" could not have manifested itself as perfectly as it has over the last few years. The first stanza of the anthem reads "Australians let us rejoice for we are young and free, we've golden soil and wealth for toil" - has become a self-fulfilling prophecy.

Unemployment is at a thirty-four year low of 4.1%, Western Australia's economy has grown by 6.3% (which is greater than the average) and the lending rate is at 7.25% (which coming from Africa this is a boon).

The banking sector in Australia has had minimum fall out from the effects of the credit crunch as they have had little direct exposure. The domestic banking market has remained relatively robust as a result of the growing economy as well as sound regulatory and compliance structures. The major impact has been in non-bank financial/investment sector, securitization teams and the stock market. The result from a skills perspective is that Australians who were on their "walk about" in London or the US have opted to return home to further their careers. Londoners are leaving the UK to experience life in OZ and to escape the bleak weather and economic indicators that are dogging them daily (according to reports the UK is experiencing the largest brain drain of English citizens in fifty years).

The resources boom has impacted on Western Australia spectacularly. There is an estimated 550 families arriving in Perth weekly from regions such as England and South Africa, which results in a strain in the rental market and leads to the rapid leasing of houses (and escalating rentals). Take note that if you see a rental ad that reads 3x2 it means three beds and two bathrooms. The cost of living and salaries are now rivaling those of Sydney.