The federal government is predicting an additional 76,000 jobs will be created in the retail sector by 2015.
This estimate by the Department of Education, Employment and Workplace Relations came as supermarket giant Woolworths said it would be increasing its staff by 10,000 in the next financial year.
"This is a stunning vote of confidence in the strong fundamentals of the Australian economy," Acting Prime Minister Wayne Swan told reporters in Canberra, referring to Woolworths' plan.
Jobs Minister Chris Evans said despite coming under pressure from cautious consumers and ongoing global instability, the retail sector was still the second largest employing industry in Australia, engaging more than 1.2 million people.
"Retail jobs like those announced by Woolworths create real opportunities for unemployed people, and the government its connecting job seekers to these jobs through targeted pre-employment training assistance," Senator Evans said in a statement.
He said Woolworths has a strong track record of creating real job opportunities for disadvantaged job seekers, including indigenous people, mature-aged candidates and the long-term unemployed.
Woolworths said the additional staff would be needed in the current financial year when it opens 39 new supermarkets - seven Big Ws and 15 Masters home improvement stores, each of which will employ more than 130 people during fiscal 2012.
The retailer says it plans to add 117 stores to its network of 73 in 2010/11.
As well, a new distribution centre in western Sydney will employ 350 people.
In contrast, the Finance Sector Union (FSU) says bank workers are concerned about losing jobs at one of the nation's biggest banks, Westpac.
Westpac reported a 10 per cent rise in net annual profit to just under $7 billion today and said it was continuing its drive to cut costs.
Acting FSU national secretary Chris Gambian said it was a great profit result made possible by the contribution of the bank's 30,000-plus workforce.
"It's incredibly disappointing that the productivity plans announced today mean the same employees that helped deliver this great result are now watching their backs lest they become the next victim of the bank's cost cutting," Mr Gambian said in statement.
"Given the bank has just announced its biggest ever profit, there is no excuse for cutting costs, cutting jobs or cutting services to customers."
