Rally over? Australian dollar in broad-based retreat

http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html


A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits.
Don't you love trickle down economics.

____ wrote on Aug 10^th, 2017 at 4:01pm:

Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics.

It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth.

crocodile wrote on Aug 10^th, 2017 at 7:17pm:

____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth.

And how does the employee fix that ?

Trickle down - a visit to a fictitious past.

____ wrote on Aug 10^th, 2017 at 4:01pm:

Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics.

A weaker dollar means businesses will sell more


A weaker Dollar means that imported goods will cost more which is passed on to the consumer in higher prices meaning that business will sell less ????

Over the last few decades we have seen that increased profit does not necessarily lead to wage increases.

Its time wrote on Aug 10^th, 2017 at 7:44pm:

crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. And how does the employee fix that ?

Re-skilling with technology growth or promotion opportunities.

Dnarever wrote on Aug 10^th, 2017 at 8:00pm:

____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. A weaker dollar means businesses will sell more A weaker Dollar means that imported goods will cost more which is passed on to the consumer in higher prices meaning that business will sell less ???? Exports volumes would increase though. Over the last few decades we have seen that increased profit does not necessarily lead to wage increases. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity.

They are talking about the AUD/USD which is a relation between the 2 currencies.

At the moment the USD is rallying due to Pres Trump's success with increasing jobs while the AUD is fairly steady based on confidence in Mal's financial genius.

Also Trump's strong stand against Nth Korea is reassuring the world.

No doubt the Croc will be quick to pluck some graphs from the ether.

crocodile wrote on Aug 10^th, 2017 at 8:13pm:

Dnarever wrote on Aug 10th, 2017 at 8:00pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. A weaker dollar means businesses will sell more A weaker Dollar means that imported goods will cost more which is passed on to the consumer in higher prices meaning that business will sell less ???? Exports volumes would increase though. Over the last few decades we have seen that increased profit does not necessarily lead to wage increases. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity.

Exports volumes would increase though.

Yes Australian product would be cheaper in other countries while our market is depressed.

Increased profits always lead to growth in real wages as long as total factor productivity grows as well.

Wages do not grow without productivity.

Not so much when government policy is to depress wages and to fight for poor wage outcomes while strongly encouraging employers to keep wage increases in check.

Reality V economic theory

juliar wrote on Aug 10^th, 2017 at 8:43pm:

They are talking about the AUD/USD which is a relation between the 2 currencies. At the moment the USD is rallying due to Pres Trump's success with increasing jobs while the AUD is fairly steady based on confidence in Mal's financial genius. Also Trump's strong stand against Nth Korea is reassuring the world. No doubt the Croc will be quick to pluck some graphs from the ether.

Down across multiple currencies. Not just the US$.

Dnarever wrote on Aug 10^th, 2017 at 8:52pm:

crocodile wrote on Aug 10th, 2017 at 8:13pm: Dnarever wrote on Aug 10th, 2017 at 8:00pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. A weaker dollar means businesses will sell more A weaker Dollar means that imported goods will cost more which is passed on to the consumer in higher prices meaning that business will sell less ???? Exports volumes would increase though. Over the last few decades we have seen that increased profit does not necessarily lead to wage increases. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity. Exports volumes would increase though. Yes Australian product would be cheaper in other countries while our market is depressed. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity. Not so much when government policy is to depress wages and to fight for poor wage outcomes while strongly encouraging employers to keep wage increases in check. Reality V economic theory

Horseshit. If firms want to invest in their businesses and grow productivity there is sweet fukk all any gummint policy can do about it.

Reality is that productivity is well down, especially on the capital side. That is the reason why wages growth is subdued.

**falls about laughing at the headline**

juliar couldn't do any better than that.....

crocodile wrote on Aug 10^th, 2017 at 7:17pm:

____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth.

So the only productivity that will grow and trickle-up will be the incomes of the fat cats who run the show?  And one day their coffers will overflow and money will cascade down like Niagara Falls to the desperate peasants dying of thirst below?

Don't make me laugh..... if theory economics was so successful, we would all have been in clover 5000 hockey sticks ago....

juliar wrote on Aug 10^th, 2017 at 8:43pm:

They are talking about the AUD/USD which is a relation between the 2 currencies. At the moment the USD is rallying due to Pres Trump's success with increasing jobs while the AUD is fairly steady based on confidence in Mal's financial genius. Also Trump's strong stand against Nth Korea is reassuring the world. No doubt the Croc will be quick to pluck some graphs from the ether.

At the moment the USD is rallying due to Pres Trump's success with increasing jobs while the AUD is fairly steady based on confidence in Mal's financial genius.



Actually the USD is down and this fact has more to do with the US market results than anything that Trump has done according to US economists.

crocodile wrote on Aug 10^th, 2017 at 9:17pm:

Dnarever wrote on Aug 10th, 2017 at 8:52pm: crocodile wrote on Aug 10th, 2017 at 8:13pm: Dnarever wrote on Aug 10th, 2017 at 8:00pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. A weaker dollar means businesses will sell more A weaker Dollar means that imported goods will cost more which is passed on to the consumer in higher prices meaning that business will sell less ???? Exports volumes would increase though. Over the last few decades we have seen that increased profit does not necessarily lead to wage increases. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity. Exports volumes would increase though. Yes Australian product would be cheaper in other countries while our market is depressed. Increased profits always lead to growth in real wages as long as total factor productivity grows as well. Wages do not grow without productivity. Not so much when government policy is to depress wages and to fight for poor wage outcomes while strongly encouraging employers to keep wage increases in check. Reality V economic theory Horseshit. If firms want to invest in their businesses and grow productivity there is sweet fukk all any gummint policy can do about it. Reality is that productivity is well down, especially on the capital side. That is the reason why wages growth is subdued.

What rubbish - it the government are saying to company management that it is ok and even expected that they will keep all those lovely $$$$$ instead of giving it to those miserable employees (which they are)


Quote:

If firms want to invest in their businesses and grow productivity there is sweet fukk all any gummint policy can do about it.

Nobody said any different, the difference is in the outcome where this magically results in higher wages even when wage increases are strongly discouraged. The fact is that government helping business to justify keeping more money for themselves as they have been is difficult to resist.

Quote:

Trickle Down Economics = Wage Rises For Everyone

In its crudest form trickle down means putting all the money in at the top end with the expectation that the over flow will find its way down to the bottom or that those at the top will throw some crumbs down to those lower.

The reality is that no business is going to give away any of their money if they don't have to.

The interesting reality is that there was a period where to some extent it did seem to work. The problem is that it was poorly identified. The thing is that when unions and workers were strong enough they could demand their share.

The union employer strength was the primary driver of trickle down. It worked because it was never a matter of the employer being generous, it was that the employer had no other option. Successive Liberal governments mainly the Howard disgrace hobbled Unions in the workplace which effectively removed the main driver of the trickle.

Today there is no trickle, the drivers for it are gone.

Expecting business men to give away money out of generosity is not going to happen. 

Yep. We are now heading towards being a country full of serfs. Working for next to nothing and all rights removed.

Sir Grappler Truth Teller OAM wrote on Aug 10^th, 2017 at 9:59pm:

crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. So the only productivity that will grow and trickle-up will be the incomes of the fat cats who run the show?  And one day their coffers will overflow and money will cascade down like Niagara Falls to the desperate peasants dying of thirst below? No, that's not right. Profits are reinvested which grows productivity. Wages growth is a product of the incremental skills increases over time as technology is rolled out. It's not the result generous bosses having moments of benevolence. Don't make me laugh..... if theory economics was so successful, we would all have been in clover 5000 hockey sticks ago.... Don't make me laugh either. Grappler logic now says that living standards have not increased over time and we're still tilling our farms with oxen and a moldboard

____ wrote on Aug 10^th, 2017 at 11:05pm:

Yep. We are now heading towards being a country full of serfs. Working for next to nothing and all rights removed.

A direct result of declining productivity. I've been sending this message on this board for years that this is what we face if it is not turned around. The ol' Croc was right all along.

crocodile wrote on Aug 10^th, 2017 at 11:48pm:

Sir Grappler Truth Teller OAM wrote on Aug 10th, 2017 at 9:59pm: crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. So the only productivity that will grow and trickle-up will be the incomes of the fat cats who run the show?  And one day their coffers will overflow and money will cascade down like Niagara Falls to the desperate peasants dying of thirst below? No, that's not right. Profits are reinvested which grows productivity. Wages growth is a product of the incremental skills increases over time as technology is rolled out. It's not the result generous bosses having moments of benevolence. Don't make me laugh..... if theory economics was so successful, we would all have been in clover 5000 hockey sticks ago.... Don't make me laugh either. Grappler logic now says that living standards have not increased over time and we're still tilling our farms with oxen and a moldboard

. It's not the result generous bosses having moments of benevolence.


But this has been almost the whole story of the Liberal party's economic strategy for the last 30 years ?

How could it possibly be wrong ?????

Dnarever wrote on Aug 10^th, 2017 at 11:53pm:

crocodile wrote on Aug 10th, 2017 at 11:48pm: Sir Grappler Truth Teller OAM wrote on Aug 10th, 2017 at 9:59pm: crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. So the only productivity that will grow and trickle-up will be the incomes of the fat cats who run the show?  And one day their coffers will overflow and money will cascade down like Niagara Falls to the desperate peasants dying of thirst below? No, that's not right. Profits are reinvested which grows productivity. Wages growth is a product of the incremental skills increases over time as technology is rolled out. It's not the result generous bosses having moments of benevolence. Don't make me laugh..... if theory economics was so successful, we would all have been in clover 5000 hockey sticks ago.... Don't make me laugh either. Grappler logic now says that living standards have not increased over time and we're still tilling our farms with oxen and a moldboard . It's not the result generous bosses having moments of benevolence. But this has been almost the whole story of the Liberal party's economic strategy for the last 30 years ? How could it possibly be wrong ?????

They wouldn't know if their arses were on fire.

"Profits are reinvested which grows productivity."

No - they are not..... only in a very limited sense, and only after the real profits have been removed offshore or into other safe havens (such as ongoing tax concessions) for the benefit of the (primarily) major shareholders, who always constitute a tiny percentage of the overall shareholders.

The only 're-investment' of profit is where there is a clear avenue for further profit, and thus that is not a genuine investment in this nation or its resources procurement or anything else - but is only an investment in gaining profit. NO organisation re-invests its profits unless it can see a clear path to further profit.

The facts are there on the table with the tax recoupment from major corporations that offshore their profits.  Once that is all gone offshore, the begging bowls come out for more 'investment' that procures next to nothing for the nation as a whole, but only for those who are on 'the inside' with major shareholdings.  The 'mums and pops' get a pittance but imagine they are big wheels in business... (sighs).... while 80% of the shares are held by ten people...... and thus 80% of the profit goes to those ten people....

The only 'productivity' you are discussing is the productivity of shareholder gains.... and unless some major changes are made to 'investment' in this nation, it will continue to slide downhill at a rapid rate, since such current investment does not produce any lasting effect HERE and NOW, or in the foreseeable future.

WHERE is the productivity in any other sphere than in shareholding?

Yeah - I studied Economics years ago.... doesn't mean I accept all the rubbish that is trotted out as economic orthodoxy.

Sir Grappler Truth Teller OAM wrote on Aug 11^th, 2017 at 12:26am:

"Profits are reinvested which grows productivity." No - they are not..... only in a very limited sense, and only after the real profits have been removed offshore or into other safe havens (such as ongoing tax concessions) for the benefit of the (primarily) major shareholders, who always constitute a tiny percentage of the overall shareholders.

What a load of hot cock. If corporations aren't reinvesting how do you explain the unhindered decades long growth in labour productivity.

http://www.rba.gov.au/speeches/2014/images/sp-ag-160614-graph03.gif

http://www.rba.gov.au/speeches/1999/images/sp-ag-151099-graph3.gif


Sir Grappler Truth Teller OAM wrote on Aug 11^th, 2017 at 12:26am:

The only 're-investment' of profit is where there is a clear avenue for further profit, and thus that is not a genuine investment in this nation or its resources procurement or anything else - but is only an investment in gaining profit. NO organisation re-invests its profits unless it can see a clear path to further profit. Really ? That's extremely observant of you.

Sir Grappler Truth Teller OAM wrote on Aug 11^th, 2017 at 12:26am:

The facts are there on the table with the tax recoupment from major corporations that offshore their profits.  Once that is all gone offshore, the begging bowls come out for more 'investment' that procures next to nothing for the nation as a whole, but only for those who are on 'the inside' with major shareholdings.  The 'mums and pops' get a pittance but imagine they are big wheels in business... (sighs).... while 80% of the shares are held by ten people...... and thus 80% of the profit goes to those ten people.... The only 'productivity' you are discussing is the productivity of shareholder gains.... and unless some major changes are made to 'investment' in this nation, it will continue to slide downhill at a rapid rate, since such current investment does not produce any lasting effect HERE and NOW, or in the foreseeable future. WHERE is the productivity in any other sphere than in shareholding?

Productivity has fukk all to do with shareholder returns. It is outputs divided by labour and capital inputs. Wages do in fact track productivity very closely. There is some deviation during the stagflation era of the late '70s in favour of labour. It is tailing off in recent times due to the extremely poor performance of capital productivity dragging down multifactor.

https://d3n8a8pro7vhmx.cloudfront.net/saveourservices/pages/553/attachments/original/1429692123/CCI_Img_6.JPG

http://www.rba.gov.au/education/economics-competition/2014/images/australian-multifactor-productivity.gif



Sir Grappler Truth Teller OAM wrote on Aug 11^th, 2017 at 12:26am:

Yeah - I studied Economics years ago.... doesn't mean I accept all the rubbish that is trotted out as economic orthodoxy.

I'd suggest you use that top 2% of IQ and blow the dust off your old text books. You're a bit muddled.

crocodile wrote on Aug 10^th, 2017 at 7:17pm:

____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth.

The increase in productivity without pay rises in the past five years is a strong argument against this. Company profits have soared and these have not been passed on to the ones whose hard work has delivered these profits: the workers.

Its time wrote on Aug 10^th, 2017 at 7:44pm:

crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. And how does the employee fix that ?

He loses his job to the chinese and then has no spending power which results in an epidemic of empty shops and malls just like in the US !!

https://www.youtube.com/watch?v=zdfAzSia8wo&t=2s

Bam wrote on Aug 11^th, 2017 at 10:57am:

crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. The increase in productivity without pay rises in the past five years is a strong argument against this. Company profits have soared and these have not been passed on to the ones whose hard work has delivered these profits: the workers.

That's why it is wrongly labelled and should be called "The trickle up effect".

crocodile wrote on Aug 10^th, 2017 at 9:17pm:

Reality is that productivity is well down, especially on the capital side. That is the reason why wages growth is subdued.

Not for CEOs, executives and board members of large companies. Their salaries have grown much faster than those of the general population and not by being much more productive.

Bam wrote on Aug 11^th, 2017 at 10:57am:

crocodile wrote on Aug 10th, 2017 at 7:17pm: ____ wrote on Aug 10th, 2017 at 4:01pm: Rally over? Australian dollar in broad-based retreat http://www.smh.com.au/business/markets/currencies/rally-over-australian-dollar-in-broadbased-retreat-20170810-gxtfuq.html A weaker dollar means businesses will sell more, more tourists, more tax income for government ...  this extra cash can be passed on as higher wages and finally an increase to the unemployment benefits. Don't you love trickle down economics. It doesn't quite work that way. Never has, never will. Wages growth is a factor of total productivity growth. The increase in productivity without pay rises in the past five years is a strong argument against this. Company profits have soared and these have not been passed on to the ones whose hard work has delivered these profits: the workers.

Sorry to break the bad news to you but total factor productivity has been in free fall for the last five years. It may have increased in Kickatinalong but not here in Aussie.

More bad news for you. As of 3rd Qtr 2015 corporate profits were back at 2004 levels. And that's not even inflation or GDP adjusted.

https://edge.alluremedia.com.au/uploads/businessinsider/2016/05/Australia-company-profits-before-tax-Q1-2016.jpg

There were two good quarters this year. As if that makes up for 11 years of zip. It's already been explained. Wages follow MF productivity, not profits.

Bam wrote on Aug 11^th, 2017 at 11:59am:

crocodile wrote on Aug 10th, 2017 at 9:17pm: Reality is that productivity is well down, especially on the capital side. That is the reason why wages growth is subdued. Not for CEOs, executives and board members of large companies. Their salaries have grown much faster than those of the general population and not by being much more productive.

Do you have any data on that or their relative productivity performance. The relativism argument is not much use.

I predict the wage rises will come around 2019 , coincidentally when a change of government occurs

Its time wrote on Aug 13^th, 2017 at 8:14pm:

I predict the wage rises will come around 2019 , coincidentally when a change of government occurs

On what basis do you make this prediction LW. So far, Bill has not divulged anything that remotely addresses the two decades long fall in total factor productivity.

No matter what, sustained wages growth cannot occur under declining productivity performance without affecting employment.