Author: roymorgansocial

Roy Morgan Business Confidence jumps 10.4 points to 106.4 in January – highest since April 2022

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

In January 2023, Roy Morgan Business Confidence rose 10.4 points to 106.4, the largest jump to start a new year since the index began in 2010. The increase to Business Confidence in January came before the RBA’s decision to increase interest rates for a ninth consecutive meeting, to the highest level since mid-2012. However, Business Confidence is 6.3pts below the long-term average of 112.7. Now 49.3% (up 10.1ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 48.2% (down 10.5ppts) expect bad times’. Some 46.7% (down 0.6ppts) of businssses expect the business will be ‘better off’ financially this time next year, while 20.8% (down 2.5ppts) expect the business will be ‘worse off’. Meanwhile, 48.3% (up 8.7ppts) of businesses say the next 12 months will be a ‘good time to invest in growing the business’, while 43.7% (down 7.5ppts) said it will be a ‘bad time to invest in growing the business’.

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ROY MORGAN LIMITED

Multi-employer wage fight test

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Original article by Ewin Hannan
The Australian – Page: 6 : 15-Feb-23

The Australian Manufacturing Workers’ Union will seek to reinstate all clauses that were banned in workplace agreements under the Coalition’s building industry code of conduct. A proposed multi-employer agreement for heating, ventilation and airconditioning manufacturers may become a test case for Labor’s workforce reforms, which scrapped the building code. Actus Workplace Lawyers principal Stephen Smith notes that some airconditioning companies have entered into pattern agreements with the AMWU in recent years; he says hundreds of companies could be forced to adopt the same wages and conditions if the union seeks to vary the agreement to include other employers.

CORPORATES
AUSTRALIAN MANUFACTURING WORKERS’ UNION, ACTUS WORKPLACE LAWYERS

Put stop to Senate defectors

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Original article by Joe Kelly, Angelica Snowden, Rachel Baxendale
The Australian – Page: 1 & 6 : 15-Feb-23

Centre for Public Integrity chair Anthony Whealy says federal parliament should pursue reforms to address the issue of senators who quit their political party but remain in the upper house. He contends that when electors vote for a party’s candidate in the Senate they are registering a vote for that party, so the "will of the people should prevail". Former Greens senator Lidia Thorpe has joined a growing list of upper house members who have switched political allegiances in the last decade. Former attorney-­general George Brandis has described Thorpe’s decision to become an independent as a "cynical and egotistical act" and a "blatant insult" to people who had voted for the Greens rather than Thorpe.

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THE CENTRE FOR PUBLIC INTEGRITY, AUSTRALIAN GREENS

No sign of dividends as Seven West seeks revenue lift, debt shrinkage

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 19 : 15-Feb-23

Seven West Media has posted a 2022-23 interim net profit of $114.9m, which is 4.6 per cent lower than previously. Revenue was down 0.5 per cent at $814.6m and EBITDA was 4.8 per cent lower at $205m. CEO James Warburton says the nine interest rate rises since May 2022 have had a significant impact on the advertising market, which he expects to decline to "mid to high single digits" in the second half. Meanwhile, Seven will seek cost savings of $15m to $20m, although Warburton has ruled out job cuts. Seven has cited "prevailing market conditions" for its decision to withhold paying a dividend again.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Mining vital but public is ‘hostile’: Blainey

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Original article by Stewart Oldfield
The Australian Financial Review – Page: 3 : 15-Feb-23

Historian Geoffrey Blainey has emphasised the importance of the resources sector to the Australian economy. He says the current boom may be the "great mining period" in the nation’s history, and contends that the sector will remain critical to the economy for at least the next decade. Professor Blainey adds that public opinion towards mining is currently more hostile or indifferent than in any other decade in Australia’s history, while there is also political opposition to mining. He says more needs to be done to promote the mining sector’s contribution to the continuing strength of the Australian economy.

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Australian unemployment jumps to 10.7% in January – highest since JobKeeper ended in March 2021

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

The latest Roy Morgan employment series data shows that 1.61 million Australians (10.7% of the workforce) were unemployed in January, up 223,000 from December. The number of Australians looking for full-time work rose by 49,000 to 644,000 in January, while the number of people looking for part-time work rose by 174,000 to 963,000. Some 1.43 million Australians (9.5% of the workforce) were under-employed – working part-time but looking for more work – up 65,000 from December. In total, 3.03 million Australians (20.2% of the workforce) were either unemployed or under-employed in January, up 288,000 on December. This is the highest level of combined unemployment and under-employment since February 2021. Meanwhile, employment decreased by 150,000 to 13,418,000 in January. This was driven by a drop in part-time employment (down 280,000 to 4,517,000), while full-time employment increased by 130,000 to 8,901,000. The movements in both full-time and part-time employment were in line with the normal seasonal trends seen at this time of year following the Christmas retailing season. Roy Morgan’s under-employment figure of 9.5% is over 3% points higher than the ABS estimate of 6.1% for December.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence drops to lowest since early April 2020 at only 78.1 after RBA increases interest rates to decade high

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

ANZ-Roy Morgan Consumer Confidence fell 5.5pts to 78.1 in the week to 12 February, after the RBA increased official interest rates to the highest level since October 2012. This was the largest weekly drop in Consumer Confidence following an RBA meeting since a fall of 6.6pts after it increased interest rates by 0.5% in early June. Consumer Confidence is now 25.1pts below the same week a year ago (103.2), and 6.8pts below the 2023 weekly average of 84.9. Consumer Confidence was down in all five mainland States, and under 80 in all of them except Western Australia. Now 19% of Australians (down 3ppts) say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator since April 2020), while 49% (up 2ppts) say their families are ‘worse off’ financially. Some 31% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 35% (up 1ppt) expect to be ‘worse off’ financially. Only 7% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 41% (up 8ppts) expect ‘bad times’. Meanwhile, 17% (down 6ppts) of Australians say now is a ‘good time to buy’ major household items (the lowest figure for this indicator since early April 2020), while 54% (up 5ppts) say now is a ‘bad time to buy’ (the highest figure for this indicator since early April 2020).

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Woodside challenges bargaining orders for offshore gas

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 2 : 8-Feb-23

Woodside Energy has appealed the Fair Work Commission’s ruling that it must hold collective bargaining negotiations with unions that represent workers at its offshore gas platforms in Western Australia. The FWC had ruled that the Offshore Alliance had secured the majority support of 200 production workers for a collective agreement. However, Woodside contends that supervisors should not have been included in the bargaining order, and that doing so could compromise their ability to perform their duties. Woodside has had a policy of "direct engagement" with employees at its North West Shelf platforms, where it has used individual contracts rather than enterprise agreements since 1994.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, AUSTRALIA. FAIR WORK COMMISSION, OFFSHORE ALLIANCE

‘Hand back your seat’, says Greens candidate who lost to Thorpe

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Original article by David Crowe
The Age – Page: Online : 8-Feb-23

Barrister and human rights activist Julian Burnside lost the Greens’ 2020 preselection race for the Senate seat that was ultimately won by Lidia Thorpe. Her decision to quit the Greens and become an independent has prompted Burnside to call for her to vacate her seat, arguing that it belongs to the party rather than Thorpe, as voters had backed the Greens and not her. David Risstrom was also a candidate for preselection in 2020; he says the process was fair and Greens members should accept it.

CORPORATES
AUSTRALIAN GREENS

Covid deaths through roof amid age-care warnings

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Original article by Jess Malcolm
The Australian – Page: 6 : 8-Feb-23

Data from the federal Department of Health shows that the number of Covid-related deaths nationwide has risen to 9,332 since Labor was elected in May 2022. This compares with 8,471 deaths from or with COVID-19 under the former Coalition government. The figures also show that the Covid death toll in aged-care homes is 2652 under Labor, compared with 2415 under the Coalition. Shadow health and aged care minister Anne Ruston says the government has failed to protect the nation’s elderly.

CORPORATES
AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN LABOR PARTY