lol and wtf: Unemployment falls a whole bunch (1 Viewer)

[S.H.O.D.A.N.]

The Australian unemployment rate fell to 5.4 last month. Analysts predicted a rise from 5.7 to 5.9.

Employment climbed 27,300 in April, when analysts had expected a fall of 25,000. There was a 49,100 rise in full-time jobs, which typically offer greater pay and security.

http://www.nytimes.com/2009/05/07/business/global/07iht-ozecon.html?ref=global

The jobless data is the latest in a series of mixed news that some economists say could add up to a less harsh downturn for Australia than feared.

"It's a pretty consistent story that Australia is actually getting through this in much better shape than most people have given it credit for," said Macquarie Group senior economist Brian Redican, citing other recent data.

The statistics bureau reported Wednesday that retail sales rose 2.2 percent in March — more than four times what economists expected — and that exports held up enough to widen Australia's trade surplus by the second-largest margin on record to AU$2.5 billion ($1.85 billion).

The Associated Press: Surprise slip in unemployment in Australia

 

[blue_chameleon]

Surprised...


...because Ruddkip and Swanny have been constantly talking down the economy?

 

[Ben Netanyahu]

this news is exciting to me and has a bearing on my life

 

[Mu5hi]

rudd and swan now got proganda claiming their packages are working.

 

[incentivation]

Hmm.. Most believe it is merely an aberration.

In any event, we'll find out next month.

On a side note, how good is this government? Where would we be without their steady hand in these times of economic uncertainty?

 

[blue_chameleon]

rudd and swan now got proganda claiming their packages are working.

They've both probably stayed up all night working their packages over this news.

 

[moll.]

I'm so disappointed. Turnbull's message was finally making sense and getting through to the elctorate this week. Now this.
Damn his ill luck!

 

[sassystudy]

Rudd's doing a great job, I think

 

[moll.]

Rudd's doing a great job, I think

lol.
Hush now. The adults are talking.

 

[SashatheMan]

So what's to say that Rudds stumulus packages did not contribute to this?

 

[Riet]

Because no business would hire people for work based on the prospect of a one off repayment, unless of course they all get fired within a month which would make it a statistical abberation. Infact if what has been said is true and the stimulus package is 'keeping small business' alive, they'd want to be spending as little as possible, and probably wouldn't hire any body at all.

 

[sassystudy]

Well, since we are being adults now...
I think the media is extrapolating extreme effects of the GFC, when this is showing to be erroneous. As a member of the retail industry and an observing consumer, I can say that at least in this industry, vacancies are quickly arising. I doubt that unemployment rates will take a drastic increase if it should happen. It is looking like things are becoming more stable, thank God.

And in reference to Rudd, whatever evil he may carry out, which has not been apparent in his term yet, considering all the events he is being faced with; GFC and the lot, when did mistakes become rare in politics?

 

[Rafy]

There is a sampling error to the employment figures. They are not exact. They are derived from what is essentially a poll.

 

[Laika_]

rafy is on the money

 

[Laika_]

im sure if they did a thorough analysis of unemployment rates in central qld they wouldnt be so flattering lol

 

[moll.]

Well, since we are being adults now...
I think the media is extrapolating extreme effects of the GFC, when this is showing to be erroneous. As a member of the retail industry and an observing consumer, I can say that at least in this industry, vacancies are quickly arising. I doubt that unemployment rates will take a drastic increase if it should happen. It is looking like things are becoming more stable, thank God.

Most of the employment vacancies in the retail sector are for casual staff. Which is an obvious sign of a recession. Businesses lay off the permanent staff and hire casuals when the going gets tough, because casuals don't have entitlements and their work hours are flexible, enabling the business to quickly ramp up or down production if the situation improves or declines, respectively.

And in reference to Rudd, whatever evil he may carry out, which has not been apparent in his term yet, considering all the events he is being faced with; GFC and the lot, when did mistakes become rare in politics?

It's not abut evil. It's about competency.
Just because a fool has a heart of gold doesn't mean you trust him with your life and money.

 

[sassystudy]

In that sense, you're right. Most retail companies are hiring casuals, yet publishing has plenty of openings which are on a permanent basis. And I rather put my money in the hands of a 'fool with a heart of gold' with a conscience than a corrupt one with no conscience whatsoever. I think he should be given a break.

 

[moll.]

So what's to say that Rudds stumulus packages did not contribute to this?

Riet's right. Businesses don't hire 50,000 extra full-time staff just because of a $900 once-off bonus. Full-time staff are a long-term investment, unlike these payments.
So either the statistics are wrong and Rudd's stimulus hasn't really reduced unemployment, or they're right and the stimulus had little to do with it.

 

[moll.]

Nevertheless, there are job openings everywhere in the retail industry at least. Someone must be snapping these up and getting off the dole. Unemployment rates must be falling one way or another.

Or they're getting retrenched from their full-time jobs and having to work two, three or even four casual jobs to make up the difference. Both scenarios are just as likely.
This is another problem with jobs figures. They don't show who has more than one job.

 

[sassystudy]

Or they're getting retrenched from their full-time jobs and having to work two, three or even four casual jobs to make up the difference. Both scenarios are just as likely.
This is another problem with jobs figures. They don't show who has more than one job.

In that sense, I agree. But casual rates of pay are higher and we've got it a hell of a lot easier than other countries. There's only so much a government can do. It's a global problem.