UNEMPLOYMENT – AUSTRALIA

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

Hockey rejects recession fears

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 11-May-15

The Australian Government’s Mid-Year Economic and Fiscal Outlook had forecast GDP growth of 2.5 per cent in 2014-15. This is expected to be scaled back in the May 2015 Budget, but Treasurer Joe Hockey has downplayed suggestions by Macroeconomics’ Stephen Anthony that there is the potential for a recession in 2016. Meanwhile, Hockey is confident that the Government can keep the unemployment rate at no more than 6.5 per cent, compared with 6.2 per cent at present.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, MACROECONOMICS.COM.AU PTY LTD, RESERVE BANK 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

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

$A plunges as investors bet on rate cut in March

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Original article by Misa Han
The Australian Financial Review – Page: 23 : 13-Feb-15

The Australian dollar was buying $US0.7646 late in trading on 12 February 2015. The currency was sold down in response to data showing that Australia’s unemployment rate rose to 6.4 per cent in January, with the economy shedding more than 12,000 jobs during the month. The jobs data has heightened expectations of further easing of monetary policy, and Paul Bloxham of HSBC expects the currency to continue to retreat

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Australian unemployment down in January to 9.8% as full-time employment increases to new record high despite shrinking workforce

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 6-Feb-15

A Roy Morgan survey on Australia’s unemployment and under-employed shows that the real unemployment rate fell to 9.8 per cent in January 2015. This compares with an official unemployment rate of 6.1 per cent in December 2014. The total workforce has fallen by 127,000 to 12,627,000 since January 2014, and the number of Australians who are under-employed has fallen by 72,000 to 1,033,000 in the last 12 months. Roy Morgan Research executive chairman Gary Morgan notes that more than 2.27 million Australians are either unemployed or under-employed, and the Federal Government must look seriously at industrial relations reform

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Chance of rate cuts recede

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Original article by Vesna Poljak, Joanna Heath
The Australian Financial Review – Page: 1 & 6 : 16-Jan-15

New figures show that 37,400 jobs were created in Australia during December 2014, with the unemployment rate easing to 6.1 per cent. The general consensus of economists was that about 5,000 jobs had been created. The labour market figures may weaken the case for further easing of monetary policy, with Michael Blythe of the Commonwealth Bank forecasting that the cash rate will remain unchanged in 2015. However, the ANZ Bank expects two rate cuts in the next year

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, WORLD BANK, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, WATPAC LIMITED – ASX WTP, AUSTRALIAN BUREAU OF STATISTICS

Australian employment at record high in December driven by a record high level of part-time employment

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Jan-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 10.9 per cent in December 2014. The number of people in the workforce now totals a record 12,901,000 (up 266,000 since December 2013), while the number of people who are underemployed has risen by 154,000 in the last 12 months to 1,246,000 (9.7 per cent). The official unemployment rate was 6.2 per cent in November. Roy Morgan Research executive chairman Gary Morgan says the high level of unemployment and underemployment means the Federal Government must look seriously at industrial relations reform

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED

Business plea to fix budget mess

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Dec-14

The Australian Government’s mid-year economic and fiscal outlook forecasts an increase in the Budget deficit and the unemployment rate. The deficit is expected to rise to $A40.4bn in 2014-15, compared with the May 2014 Budget forecast of $A29.8bn. The jobless rate is now expected to top 6.5 per cent in 2015. The Business Council of Australia and the Australian Industry Group say bipartisan support in Parliament is needed to ensure that necessary reforms are implemented

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET