O75 Public Administration

In September Australian unemployment increased to 9.5% as workforce grew to a record high; but not enough new jobs created

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Oct-24

In September 2024, Australian ‘real’ unemployment increased by 87,000 to 1,510,000 (up 0.4% to 9.5% of the workforce), as more tham 100,000 people joined the workforce. In addition to the unemployed, a further 1.45 million Australians (9.2% of the workforce) were under-employed, i.e. working part-time but looking for more work, down 43,000 from August. In total, 2.96 million Australians (18.7% of the workforce) were either unemployed or under-employed in September. However, overall employment was virtually unchanged, up 17,000 on a month ago to 14,305,000. Part-time employment increased by 32,000 to 4,933,000 while full-time employment dropped 15,000 to 9,372,000. The total workforce in September was 15,816,000 (up 105,000 from August, and up 497,000 from a year ago). Roy Morgan’s unemployment figure of 9.5% for September is more than double the ABS estimate of 4.2% for August, but it is approaching the combined ABS unemployment and under-employment figure of 10.7%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence unchanged at 83.4

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Oct-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.4 in the week to 13 October. Consumer Confidence has now spent a record 89 straight weeks below the mark of 85; however, it is now 7 points above the same week a year ago and 1.3 points above the 2024 weekly average of 82.1. Consumer Confidence was up in New South Wales, down in Victoria, Queensland, and South Australia, and unchanged in Western Australia. Now 21% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 49% (up 1ppt) say their families are ‘worse off’. Looking forward, 33% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (unchanged) expect to be ‘worse off’. Now 10% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 30% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 48% (down 1ppt) say now is a ‘bad time to buy’.

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

Fair work launches 42 probes into CFMEU coercion, corruption

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Original article by Olivia Ireland, David Crowe
The Age – Page: Online : 16-Oct-24

The CFMEU’s construction division is under further scrutiny following the federal government’s recent move to place it in administration. The Fair Work Ombudsman has advised that it has commenced another 42 investigations into alleged illegal conduct within the construction division. The FWO has acted in response to a referral from the government after media reports exposed corruption within the CFMEU and its links to outlaw motorcycle gangs. Workplace Relations Minister Murray Watt says the FWO’s investigations demonstrate that there has been progress in "cleaning up" the construction industry.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

Rebel unions reject Labor’s unity call

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Original article by Ewin Hannan
The Australian – Page: 5 : 16-Oct-24

Workplace Relations Minister Murray Watt will address the ACTU executive on Wednesday. He will highlight the federal government’s achievements in securing "better pay and job security" for Australian workers during its first term in office. With a view to the upcoming election, Watt will also contend that Opposition leader Peter Dutton and the Coalition represent the greatest threat to workers’ pay and conditions since the WorkChoices regime. He will in turn urge the union movement to unite in support of Labor and the ACTU, at a time when some unions that primarily represent blue-collar workers are pushing to establish a rival peak union body.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, ACTU

ALP under fire over small business review

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Original article by Ewin Hannan
The Australian – Page: 4 : 15-Oct-24

Australian Chamber of Commerce & Industry CEO Andrew McKellar has defended its call for the federal government to change the legal definition of a small business. He contends that the push to change this from 15 employees to 25 is not aimed at undermining the rights of workers. The Council of Small Business Organisations Australia supports the ACCI’s push, says CEO Luke Achterstraat. He adds that the government’s refusal to consider the proposal has undermined the Fair Work Ombudsman’s own review of the definition of a small business; Labor had commissioned this to secure the support of independent senator David Pocock for its workplace reforms.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

We did as we were asked, says PM on Voice

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 15-Oct-24

Speaking a year to the day that the Indigenous Voice to parliament referendum was soundly defeated, Prime Minister Anthony Albanese has described the result as a "disappointing result" but a collective loss. Albanese said that in bringing on the referendum that he was simply honouring an invitation by Indigenous Australians in 2017 to "walk with them in the Uluru Statement from the Heart". Opposition Leader Peter Dutton had promised prior to the Voice referendum that he would hold a referendum next year to recognise Indigenous people in the constitution if he wins the federal election. He dumped his promise after the Voice referendum, and Albanese on Monday dared Dutton to make good on his promise if he is elected.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Roy Morgan Poll: Federal voting intention remains tied in mid-October: Coalition 50% cf. ALP 50%

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Oct-24

If a Federal Election were held now the result would be ‘too close to call’ with the ALP 50% (unchanged) tied with the Coalition 50% (unchanged) on a two-party preferred basis, the latest Roy Morgan survey finds. This week’s result continues a run of close results stretching back over four months since mid-June. ALP primary vote support dropped 1.5% points to 30% while the Coalition was unchanged on 37.5%. Support for the Greens increased 1.5% to 14% while One Nation increased 0.5% to 5.5%. Support for Other Parties dropped 0.5% to 3.5% and support for Independents was unchanged at 9%.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Labor to ban debit card surcharges

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Original article by James Eyers, Lucas Baird, John Kehoe
The Australian Financial Review – Page: 1 & 18 : 15-Oct-24

The Reserve Bank of Australia will launch a review of payment costs for retailers, with the announcement of its review coming as the federal government flags its intention to ban debit card surcharges. A ban on these surcharges would impact many retailers, who currently pass them on to consumers; it is estimated that consumers are paying $1.5 billion annually on debit and credit card surcharges. The ban could be implemented from the start of January 2026, subject to consulation with the RBA, while the government will give the Australian Competition & Consumer Commission an additional $2.1 million to crack down on excessive surcharge fees.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Burke to sign off on every Gazan refugee granted new humanitarian visa

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Original article by Natassia Chrysanthos
Brisbane Times – Page: Online : 15-Oct-24

The federal government’s pathway for Palestinians fleeing the war in Gaza does not yet offer the chance of permanent residency, with Gazan refugees to be personally invited by Immigration Minister Tony Burke to apply for a temporary three-year humanitarian visa. The government’s approach to Gazan refugees is not as generous as the one adopted by the former Coalition government to Ukrainian refugees, while there could be the opportunity for Gazan refugees to apply for permanent residency as their temporary humanitarian visa comes to its end.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS

The half trillion-dollar stimulus we didn’t know about

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Original article by Shane Wright
The Age – Page: Online : 15-Oct-24

A series of reviews by the Reserve Bank of Australia into its policies during the COVID-19 pandemic have revealed details of a half trillion-dollar stimulus that many were not aware of. It has prompted the question of whether the stimulus, in combination with record low interest rates and government assistance, help cause the inflation problem that prompted the RBA to instigate a series of interest rate increases. A further question prompted by the RBA’s reviews is why Australians governments are yet to examine the merits of their pandemic policies.

CORPORATES
RESERVE BANK OF AUSTRALIA