UNEMPLOYMENT – AUSTRALIA

RBA needs to cut official interest rate to 1.5pc: ANZ

roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 25-Sep-15

The ANZ Bank says Australia’s unemployment rate of 6.2 per cent is unlikely to fall significantly in the near-term due to factors such as slowing global economic growth and the uncertain outlook for the Chinese economy. Chief economist Warren Hogan warns that the unemployment rate could potentially rise over the next year or so. ANZ believes that a combination of factors means the Reserve Bank will have to reduce the cash rate in both February and May 2016.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Coalition relief as jobless rate reduces

roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 7 : 11-Sep-15

Australia’s unemployment rate fell to 6.2 per cent in August 2015, from 6.3 per cent in July. Figures from the Australian Bureau of Statistics show that employment rose by 17,400 jobs. Justin Fabo, a labour market expert at ANZ Bank, says the employment-to-population ratio rose in August, which suggests that the employment market is improving.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA

Australian August real unemployment 9.2% – up for first time in 6 months

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 4-Sep-15

Australian employment has increased to a new record in August to 11,578,000 (up a large 437,000 since August 2014). The strong rise in employment has been led by a large increase in full-time employment over the past year to 7,747,000 (up 300,000) and a strong increase in part-time employment to 3,831,000 (up 137,000),according to today’s Roy Morgan August employment estimates. However, despite the strong rise in Australian employment over the past year an increasing workforce means unemployment has also increased – now at 9.2 per cent (up 0.5 per cent in the last month and from a year ago).

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, 7-ELEVEN STORES PTY LTD, UNITED PETROLEUM PTY LTD, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. PRODUCTIVITY COMMISSION, ALIBABA.COM CORPORATION, NEW YORK STOCK EXCHANGE, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Jobless rate matches 13-year high of 6.3pc

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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