EMPLOYMENT – GOVERNMENT POLICY – AUSTRALIA

Economists rip into Labor’s white paper

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Original article by John Kehoe
The Australian Financial Review – Page: 3 : 27-Sep-23

The federal government’s employment white paper is continuing to attract scrutiny from economists and the Opposition. Labour economist Mark Wooden says the white paper lacks substantive measures to meet the government’s stated goal of making the economy more "productive, dynamic and competitive". The Centre for Independent Studies’ chief economist Peter Tulip doubts that the government’s policies will reduce the non-accelerating inflation rate of unemployment, adding that Labor’s industrial relations reforms may increase the NAIRU. Shadow treasurer Angus Taylor in turn says the government should focus on policies that result in low inflation and low unemployment.

CORPORATES
THE CENTRE FOR INDEPENDENT STUDIES LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Business alarmed at Labor’s work goal

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Original article by Sarah Ison
The Australian – Page: 4 : 26-Sep-23

The federal government has attracted criticism over its employment white paper’s revised definition of ‘full employment’. The government’s goal is for ‘everyone who wants a job to be able to find one without searching for too long’. Treasurer Jim Chalmers say the technical definition of full employment – the non-accelerating inflation rate of unemployment, which is used by the Reserve Bank – is distinct but complementary to the government’s objective. However, Australian Chamber of Commerce & Industry CEO Andrew McKellar contends that having dual definitions for full employment could undermine the RBA’s efforts to restore inflation to its target range. The white paper estimates that about 2.8 million people are either unemployed and looking for work or underemployed and seeking more work.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Labor gets to work on jobs plan

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Original article by Joe Kelly
The Australian – Page: 4 : 20-Sep-23

Treasurer Jim Chalmers say the federal government’s employment white paper will outline Labor’s vision for a more "dynamic and inclusive labour market". The white paper to be released on Monday will outline five key objectives, including sustained full employment, productivity growth and sustainable wage growth. The ACTU used its submission to the white paper to call for a target of zero involuntary unemployment. The terms of reference for the employment white paper were released following the jobs and skills summit in 2022.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, ACTU

PM pledges more jobs, no debt

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 29-Jan-19

Prime Minister Scott Morrison will use a speech in Brisbane on 29 January to commit the Coalition to creating an additional 1.25 million jobs over five years if it wins the 2019 federal election. He will note that the Coalition has created more than 1.2 million jobs since it won the 2013 election. Morrison will also indicate that his government will aim to clear Australia’s net debt within a decade. It currently stands at $351.9bn, or 18.2 per cent of GDP. The mid-year Budget update had forecast that net debt will fall to 1.5 per cent of GDP in 2028-29.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Coalition achieves million jobs vow

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Original article by Adam Creighton
The Australian – Page: 6 : 18-May-18

Official data shows that Australia’s unemployment rate rose from 5.5 per cent to a nine-month high of 5.6 per cent in April. Some 23,000 jobs were created in April, and the economy has added 1.014 million jobs since the Coalition won office in September 2013. Former prime minister Tony Abbott had made an election commitment to generate one million new jobs during the first five years of a Coalition government. Tom Kennedy of JP Morgan notes that the construction and healthcare sectors accounted for more than 50 per cent of the jobs created during 2017.

CORPORATES
JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Million job milestone under federal scheme

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Original article by Joe Kelly
The Australian – Page: 10 : 13-Apr-18

Jobs Minister Michaelia Cash says the best form of welfare is getting a job. Cash is due to announce that more than one million people have now been helped in securing a job through the federal government’s jobactive scheme, with those under the age of 30 benefiting the most. Nearly 80 per cent of those who have been helped in finding work have secured permanent positions, while 65.8 per cent of placements have been in metropolitan areas and 34.2 per cent have been in regional areas.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS

Turns out Abbott was right about new jobs

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Original article by Jacob Greber
The Australian Financial Review – Page: 9 : 15-Feb-18

The general consensus of economists is that the latest labour force data will show that about 15,000 jobs were created in January 2018. This would lift the number of jobs created since the September 2013 federal election to more than 971,000. Prior to the election, then Opposition leader Tony Abbott had committed to increasing the labour force by one million during the Coalition’s first five years in office. The Government is on track to deliver on this pre-election promise well within the five-year time-frame, after the economy added 400,000 jobs in 2017.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, BLOOMBERG LP

Turnbull takes credit for jobs boom

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Original article by David Uren
The Australian – Page: 1 & 2 : 15-Dec-17

The Australian workforce has increased by 3.2 per cent in the last year, which is the fastest rate of growth since early 2008. Some 440,000 jobs have been created since September 2016, including 62,000 in November 2017, and Prime Minister Malcolm Turnbull notes that the labour market had not previously grown for 14 months successive months since 1994. He has attributed the strong jobs growth to the Coalition’s policies, although Labor employment spokesman Brendan O’Connor argues that the underemployment rate remains close to its record high.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LATROBE COMMUNITY HEALTH SERVICE, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC

Executive Chairman of Roy Morgan Research Gary Morgan comments on today’s April real unemployment figures

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Original article by Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 9-May-17

Australia’s real unemployment rate of 9.3% (1.217 million Australians) in April is far higher than the 5.9% claimed by the ABS as Treasurer Scott Morrison prepares to deliver the first Federal Budget of the re-elected Turnbull Government tonight. In addition, a further 1.090 million Australians are under-employed (8.3% of the workforce), and regularly ignored by both the major political parties and the mainstream media. For the first time last week Prime Minister Malcolm Turnbull met new US President Donald Trump who was clear during his campaign that the real American unemployment rate was 20% or 25% rather than the official Bureau of Labor Statistics figure below 5%. Turnbull and his Ministers in Australia need to understand the issues are the same in Australia and the Turnbull Government must follow Trump’s lead by implementing policies to bring back jobs to Australia.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Australian journalists finally waking up to Australia’s real problem of massive under-employment

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Original article by Gary Morgan, Michele Levine, Julian McCrann
Market Research Update – Page: Online : 22-Dec-16

The past week has seen a procession of journalists finally mentioning Australia’s largest problem that’s never talked about – the massive level of under-employment throughout the Australian economy. Today Jessica Irvine in The Age asks the simple question – does working one hour a week sound like a good job? Well of course not, and Jessica’s column highlights the problem of under-employment – working a few hours but wanting to work far more hours, or indeed, work full-time. Jessica’s column follows articles by her Age colleague Ross Gittins, and columnists in The Australian including Judith Sloan and Graham Richardson in the past week who have all highlighted the rising level of part-time work at the expense of full-time work and alongside that comes an increasing level of under-employment – now at 8.4% (1.1 million Australians) in November according to the latest Roy Morgan employment estimates. The Turnbull Government’s recent announcements on plans to crack-down on the ‘cash economy’ are also long overdue. However the real challenge facing Federal, State and Local Governments is to ensure employment, or more specifically the eradication of unemployment and under employment, is top of the agenda. This means a ‘line by line’ analysis of policy and legislation of all kinds to remove everything that is a barrier to employment, or is contributing to unemployment and underemployment.

CORPORATES
ROY MORGAN RESEARCH LIMITED