LABOR MARKET – AUSTRALIA

Rate rise firming after stronger jobs growth

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Original article by David Rogers
The Australian – Page: 17 & 28 : 20-Oct-17

A rise in official interest rates may be on the agenda in 2018 after Australia’s unemployment rate fell from 5.6 per cent to 5.5 per cent in September 2017, with a higher-than-expected 19,800 jobs being created during the month. The economy has added 317,000 jobs in the last year, which is the highest annual rate of growth since August 2005. The Reserve Bank of Australia is widely tipped to leave interest rates on hold until at least 2018.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED – ASX API

250,000 find work in jobs surge

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Original article by David Uren
The Australian – Page: 2 : 15-Sep-17

Australia’s unemployment rate was steady at 5.6 per cent in August 2017, with the economy adding 54,000 jobs during the month. The latest labour force data also shows that 250,000 jobs have been created nationwide over the last six months, including 94,600 in Queensland and 82,800 in New South Wales. Meanwhile, the labour market participation rate has risen to a record 77.6 per cent, while the proportion of people with a job or actively looking for work has reached a five-year high of 65.3 per cent.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH SECURITIES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, HSBC AUSTRALIA HOLDINGS PTY LTD, UBS HOLDINGS PTY LTD, JP MORGAN AUSTRALIA LIMITED

Australia’s real unemployment is up to 10.2% in August

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Sep-17

A Roy Morgan survey shows that 1.324 million Australians were unemployed (10.2% of the workforce) in August 2017. This is similar to a year ago (down 8,000, or 0.2%). However, more Australians are now under-employed than this time last year; 1.241 million (9.5%) Australians are looking for work or looking for more work), up a significant 324,000 (2.4%) in a year. In total, 2.565 million (19.7%) Australians were unemployed or under-employed in August – the 23rd straight month more than 2 million Australians were looking for work or looking for more work. The figures also show that 11,685,000 Australians were employed in August – an increase of 162,000 over the past year (an average of 13,500 jobs added per month). The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate for July (5.6%). Roy Morgan Research executive chairman Gary Morgan says the large increase in part-time jobs over the last year (up 535,000 or about 45,000 per month) obscures the loss of full-time jobs (down 373,000, just over 30,000 per month).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Wage growth going backwards

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 4 : 7-Sep-17

National accounts data shows that 240,000 jobs were created in Australia during the year to June 2017. However, the figures also show that wages grew by just 0.7 per cent in the June quarter and 2.1 per cent year-on-year. Likewise, annual growth in compensation per hour is at its lowest level in almost 25 years, at negative 0.3 per cent in the June quarter. Reserve Bank of Australia governor Philip Lowe recently forecast that growth in wages in some sectors will eventually be extended to the broader economy, but the national accounts data suggests that this is not yet occurring.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, CAPITAL ECONOMICS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Mining-state revival drives ‘best job growth in 40 years’

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Original article by David Uren
The Australian – Page: 2 : 18-Aug-17

Data from the Australian Bureau of Statistics shows that 202,000 jobs have been created so far in 2017, including 153,000 full-time jobs. Some 27,900 jobs were created during July, with the official unemployment rate easing to 5.6 per cent and the labour force participation rate rising to a new high of 77.4 per cent. The major mining states of Western Australia and Queensland have recorded jobs growth of 35,400 and 70,900 respectively in the year to date. Meanwhile, the average full-time wage has risen to $A80,250, according to separate data from the ABS.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, SEEK LIMITED – ASX SEK

Lowe may sit on rates two years into his term

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Original article by Vesna Poljak
The Australian Financial Review – Page: 21 : 14-Aug-17

Economists polled by Bloomberg expect Australia’s official unemployment rate to have remained at 5.6 per cent in July 2017, with about 20,000 jobs created during the month. The latest jobs and wage price index data are among the key indicators to be released in the week beginning 14 August. Meanwhile, Vimal Gor of BT Investment Management expects official interest rates to remain on hold in 2018, citing factors such as low wages growth and the growing gap between business and consumer confidence.

CORPORATES
BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, RESERVE BANK OF AUSTRALIA

Australia’s real unemployment is 9.4% in July; down 1.1% from a year ago

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Aug-17

A Roy Morgan survey shows that 11,854,000 Australians were employed in July 2017, a substantial increase of 212,000 over the past year (with just under 20,000 jobs added per month). A total of 1.236 million Australians were unemployed in July (9.4% of the workforce). This is down 129,000 (1.1%) from a year ago. An additional 1.226 million Australians (9.4%) were under-employed (looking for work or looking for more work), which is up 55,000 (0.4%). A total of 2.462 million Australians (or 18.8%) were unemployed or under-employed in July. The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate for June 2017 (5.6%). Roy Morgan Research executive chairman Gary Morgan says that finding work for the 2.462 million Australians who are unemployed or under-employed is the Government’s largest challenge, despite what the media may talk about on a continual basis. This large cohort of Australians looking for new employment opportunities will ultimately judge the Government’s success or otherwise based on whether an improving economy is generating sufficient jobs.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Rising job insecurity myth busted

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 4 : 31-Jul-17

Analysis of labour market data survey suggests that despite unions’ claims to the contrary, job security in Australia seems to be improving. The analysis by the University of Melbourne’s Jeff Borland shows that the proportion of women in particular who have had the same job for more than 10 years has increased since 1982. Meanwhile, the Household, Income and Labour Dynamics in Australia (HILDA) survey data shows that the proportion of workers who are employed via labour hire firms fell from 3.1 per cent to 2.2 per cent between 2001 and 2015.

CORPORATES
UNIVERSITY OF MELBOURNE, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIAN BUREAU OF STATISTICS

Second jobs growth steady, dispels fears

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 26-Jul-17

Data from the Australian Bureau of Statistics shows that the overall proportion of workers who have more than one job has remained steady at six per cent since 2010-11. Some 763,200 Australians had a second job in 2015-16, which is 3.7 per cent higher than the previous financial year and 9.2 per cent higher than in 2010-11. The figures are part of the ABS’s new "Labour Account" data, which aims to estimate the actual number of jobs across the economy.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Job surge adds to dollar’s strength

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Original article by David Rogers
The Australian – Page: 30 : 21-Jul-17

The Australian dollar peaked at a two-year high of $US0.7989 in local trading on 20 July, in response to data showing that 62,000 full-time jobs were created in June. The economy added a net 14,000 jobs, due to a sharp fall in part-time positions, and the unemployment rate was steady at 5.6 per cent. Capital Economics’ Katie Hickie says the Reserve Bank is likely to leave official interest rates on hold until at least the end of 2018, arguing that growth in wages will be limited by excess capacity in the labour market.

CORPORATES
CAPITAL ECONOMICS LIMITED, RESERVE BANK OF AUSTRALIA, HSBC AUSTRALIA HOLDINGS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, EUROPEAN CENTRAL BANK