LABOR MARKET – AUSTRALIA

Young Australians expect ‘high dollars’

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 4 : 19-Aug-15

Bannister Downs Dairy MD Sue Daubney believes young Australians have unrealistic expectations about work and salaries. She told a Committee for the Economic Development of Australia luncheon in Perth on 18 August 2015 that the company had to use foreign labour because young Australians did not want to work in agriculture. In her view, Australia’s workforce culture is problematic.

CORPORATES
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, BANNISTER DOWNS DAIRY COMPANY

Jobless rate matches 13-year high of 6.3pc

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Original article by Jacob Greber
The Australian Financial Review – Page: 7 : 7-Aug-15

Data from the Australian Bureau of Statistics shows that the nation’s unemployment rate rose from 6.1 per cent to 6.3 per cent in July 2015. However, it is estimated that the economy added 38,500 jobs during the month, compared with economists’ expectations of just 10,000. Treasurer Joe Hockey says this demonstration that the transition from the construction phase of the mining boom is proceeding well, while Ivan Calhoun of National Australia Bank expects interest rates to remain on hold in the near-term.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA

Australian July real unemployment 8.7% – down for fifth consecutive month

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Aug-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 8.7 per cent in July 2015. The number of people in the workforce now totals 12,673,000 (306,000 since July 2014), while the number of people who are underemployed has fallen by 102,000 in the last 12 months to 977,000 (7.7 per cent of the workforce). The official unemployment rate was 6.0 per cent in July 2015. Roy Morgan Research executive chairman Gary Morgan says the Federal Government must look at the abolition of Sunday and public holiday penalty rates for the tourism and retail industries, as these measures have a detrimental impact on small businesses, which are forced to close on Sundays and public holidays.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Job figures spur speculation the worst is over

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Original article by Jacob Greber
The Australian Financial Review – Page: 8 : 10-Jul-15

New data from the Australian Bureau of Statistics shows that the economy added 120,700 jobs during the first six months of 2015, with an average of 20,000 new jobs created each month. The unemployment rate was six per cent in June, prompting the Reserve Bank to note in its latest monetary policy statement that unemployment has ceased rising. Paul Bloxham of HSBC says the jobs data will make further interest rate cuts less likely in the near-term.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, HSBC AUSTRALIA HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE TREASURY

Australian June real unemployment 9.3% – down for fourth consecutive month

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Jul-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 9.3 per cent in June 2015. The number of people in the workforce now totals 12,755,000 (up 247,000 since May 2014), while the number of people who are underemployed has fallen by 59,000 in the last 12 months to 1,129,000 (8.9 per cent of the workforce). The official unemployment rate was 6.0 per cent in May 2015. Roy Morgan Research executive chairman Gary Morgan says the Federal Government must look at the abolition of Sunday and public holiday penalty rates for the tourism and retail industries, as these measures have a detrimental impact on small businesses, which are forced to close on Sundays and public holidays.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Future of work could be one award

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Original article by Ewin Hannan
The Australian Financial Review – Page: 1 & 9 : 20-Mar-15

The Business Council of Australia’s submission to an inquiry into workplace relations has proposed a gradual shift to a single industrial award for all sectors of the economy. As an interim measure, just one award would apply to each industry before being phased out in favour of a universal award. The employers’ association also proposes the adoption of one penalty rate for all employees, and paring back awards to cover just 10 employment issues

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. FAIR WORK COMMISSION

Budget deficits for 40 years

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 6-Mar-15

The Australian Government’s Intergenerational Report forecasts that the nation’s population will rise from 23.9 million to 39.7 million over the next four decades. It also forecasts that Australians will live longer, with more than 40,000 people over the age of 100 by 2055, while the workforce participation rate of people aged 65+ will rise and there will be fewer people under the age of 65 in the workforce. Treasurer Joe Hockey has used the release of the report to warn that Australia faces decades of Budget deficits unless policy reforms are implemented

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, MIGRATION COUNCIL OF AUSTRALIA

Australian unemployment jumps in February to 11.0% – highest since March 2014

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Mar-15

A Roy Morgan survey on Australia’s unemployment and under-employed shows that the real unemployment rate rose to 11 per cent in February 2015. This compares with an official unemployment rate of 6.4 per cent in January. The total workforce has fallen by 139,000 to 12,526,000 since February 2014, and the number of Australians who are under-employed has risen by 81,000 to 1,161,000 in the last 12 months. Roy Morgan Research executive chairman Gary Morgan says that to stand any chance of re-election in 2016, the Federal Government must look seriously at comprehensive industrial relations reform in in the May 2015 Budget

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Survey paints a dire picture

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Original article by Edmund Tadros
The Australian Financial Review – Page: 33 : 20-Feb-15

A survey by the Survive Law website shows that stress is a major issue for most Australian law students. The online survey found that nearly 50 per cent of respondents had contemplated quitting their degree due to stress. Kat Crossley, the website’s editor, notes that the limited job opportunities for law graduates is also a major issue. Melbourne Law School dean Carolyn Evans adds that the challenging graduate job market is an issue for all university students

CORPORATES
SURVIVE LAW, UNIVERSITY OF MELBOURNE. LAW SCHOOL, COUNCIL OF AUSTRALIAN LAW DEANS, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN LAW STUDENTS’ ASSOCIATION

Jobless jump points to rate cut

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 13-Feb-15

The Australian economy shed more than 12,000 jobs in January 2015, with the unemployment rate rising to 6.4 per cent. The jobless rate’s rise to its highest level in 12 years weighed heavily on the Australian dollar, which reached a low of $US0.7662 on 12 February. The data also prompted speculation of further interest rate cuts, while business groups say the figures demonstrate the need for industrial relations reforms

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN BUREAU OF STATISTICS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, AUSTRALIAN GREENS