Special Report: Global Financial Crisis

    CANBERRA, Jan. 21 (Xinhua) -- Australian Prime Minister Kevin Rudd said on Wednesday the economic growth will slow and unemployment will rise, but the government will be "up front" with Australians about how they will be affected by the financial crisis.

    Australia's largest mining company BHP Billiton said earlier in the day it would cut more than 3,000 local jobs after deciding to shed 6,000 positions worldwide.

    Rudd said the global financial crisis would affect Australian jobs.

    "The government has been up front about the fact that Australians will be affected, growth will slow, unemployment will rise given the deteriorating global outlook," Australian Associated Press quoted Rudd as saying in Sydney.

    "Already we've seen job cuts at many Australian major corporations. We know that many small business are also finding it tough to keep their staff employed," he said.

    "In the coming year, it's jobs that matter the most," he added.