Australian Politics Forum - Unemployment Lifts To 12 Month High

whiteknight

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Unemployment Lifts To 12 Month High
Sep 19^th, 2019 at 4:06pm

Unemployment lifts to 12-month high as full-time jobs fall Sad

September 19, 2019
Sydney Morning Herald

The nation's jobless rate climbed to 5.3 per cent in August, its highest level in a year, after 15,500 full-time jobs disappeared across the country.

The Australian Bureau of Statistics (ABS) on Thursday reported the 0.1 per cent lift in the unemployment rate. On the more stable trend measure, the jobless rate has now increased every month since February. Sad

The total number of people out of work lifted by 4100 and now sits at its highest number since April last year

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

The ABS said total employment lifted by 34,700 in August, however, it was due to a 50,200 surge in part-time employment. The total number of people out of work lifted by 4100 and now sits at 716,800 - its highest number since April last year.

The under-utilisation rate, which points to the amount of slack in the jobs market, also increased to 13.8 per cent.

NSW defied the increase, with unemployment in the nation's biggest jobs market falling from 4.4 per cent to 4.3 per cent. Western Australia and the ACT also fell 0.1 percentage points to 5.8 per cent and 3.5 per cent respectively.

But it lifted sharply in South Australia (from 6.9 per cent to 7.3 per cent) and Tasmania (from 6 per cent to to 6.4 per cent), and rose 0.1 percentage point in Victoria (to 4.9 per cent) and the Northern Territory (to 5.1 per cent). It was steady in Queensland at 6.4 per cent.

The figures will put more pressure on the RBA to consider an interest rate cut at its October meeting given the importance it has attached to movements in the jobs market. Markets this week lifted the chance of a rate cut next month to 43 per cent, from 25 per cent, after the RBA admitted it was yet to see strong evidence the government's tax cuts were finding their way into the economy.

"The RBA is likely to be disappointed by the gradual rise in the unemployment rate, and given its focus on the labour market, we expect this will be enough to prompt it to cut rates again at the October meeting," ANZ senior economist Felicity Emmett said.

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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: Unemployment Lifts To 12 Month High Reply #1 - Sep 19^th, 2019 at 4:08pm whiteknight wrote on Sep 19^th, 2019 at 4:06pm: after 15,500 full-time jobs disappeared across the country. they were pretend jobs created with the election in mind. The fairy dust has worn off now.
Back to top	Our esteemed leader: I hope that bitch who was running their brothels for them gets raped with a cactus. IP Logged

Bam

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Re: Unemployment Lifts To 12 Month High
Reply #2 - Sep 19^th, 2019 at 5:41pm

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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crocodile

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Re: Unemployment Lifts To 12 Month High
Reply #3 - Sep 19^th, 2019 at 6:10pm

Bam wrote on Sep 19^th, 2019 at 5:41pm:

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

You're dreaming

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Very funny Scotty, now beam down my clothes.

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Bam

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Re: Unemployment Lifts To 12 Month High
Reply #4 - Sep 19^th, 2019 at 6:41pm

crocodile wrote on Sep 19^th, 2019 at 6:10pm:

Bam wrote on Sep 19^th, 2019 at 5:41pm:

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

You're dreaming

Doesn't change the facts: Australia has had unemployment maintained below 2 per cent before. The country didn't go broke.

Calling 4% unemployment "full employment" is a bare-faced lie.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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aquascoot

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Re: Unemployment Lifts To 12 Month High
Reply #5 - Sep 19^th, 2019 at 6:55pm

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

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crocodile

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Re: Unemployment Lifts To 12 Month High
Reply #6 - Sep 19^th, 2019 at 8:41pm

Bam wrote on Sep 19^th, 2019 at 6:41pm:

crocodile wrote on Sep 19^th, 2019 at 6:10pm:

Bam wrote on Sep 19^th, 2019 at 5:41pm:

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

You're dreaming

Doesn't change the facts: Australia has had unemployment maintained below 2 per cent before. The country didn't go broke.

Calling 4% unemployment "full employment" is a bare-faced lie.

4% full employment is not a bare faced lie. Those 2% figures may have existed over a half a century ago but the participation rate was also much much lower. It actually makes quite a difference. you should factor in.

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Very funny Scotty, now beam down my clothes.

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crocodile

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Re: Unemployment Lifts To 12 Month High
Reply #7 - Sep 19^th, 2019 at 8:44pm

aquascoot wrote on Sep 19^th, 2019 at 6:55pm:

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

That's a load of horseshit Scooter ol' boy. The march of technology has existed ever since the first caveman put a wheel on a cart and the Abbos discovered funny shaped sticks come back when they miss.

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Very funny Scotty, now beam down my clothes.

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Bobby.

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Re: Unemployment Lifts To 12 Month High
Reply #8 - Sep 19^th, 2019 at 8:48pm

aquascoot wrote on Sep 19^th, 2019 at 6:55pm:

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

Aqua,
Most people who start their own business end in failure -
they lose their arse.
You're using an unusual example to try and win an argument.
It's a fallacy of exception to the rule.

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aquascoot

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Re: Unemployment Lifts To 12 Month High
Reply #9 - Sep 19^th, 2019 at 9:37pm

crocodile wrote on Sep 19^th, 2019 at 8:44pm:

aquascoot wrote on Sep 19^th, 2019 at 6:55pm:

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

That's a load of horseshit Scooter ol' boy. The march of technology has existed ever since the first caveman put a wheel on a cart and the Abbos discovered funny shaped sticks come back when they miss.

It was pretty easy for people to leave the farm and go work in the factory which was the first economic upheaval.

Skills were transferable.

And when the factories became automated, people could leave the factory and maybe go work in retail or a call centre.

Not too big a jump.

But to ask a 50 yo welder or a 50 yo woman who works at Coles or a 55 yo truck driver to re invent themselves as a software engineer ??

That probably won't fly.

Whole sectors of the economy are about to become irrelevant.

AI , robotics and machine learning will see whole sectors disappear and they won't be coming back.

Food prep, transport and retail are all highly subject to technological takeover.
So is customer service.
So is banking and insurance, finance, accounting and a lot of medicine.
Journalism is dying as is broadcast TV.

A few individuals scaled up on technology will run most things and you will be freed up and you won't be doing paid work.

Even my beef cattle will be replaced by meat grown in a vat,

Time to prepare and learn to be

1. Tolerant of change
2. Flexiblle
3. Emotionally intelligent.

I might re invent myself as an Eco tourism operator.
I doubt I will be selling cattle in 20 years time Wink

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Bam

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Re: Unemployment Lifts To 12 Month High
Reply #10 - Sep 19^th, 2019 at 9:58pm

crocodile wrote on Sep 19^th, 2019 at 8:41pm:

Bam wrote on Sep 19^th, 2019 at 6:41pm:

crocodile wrote on Sep 19^th, 2019 at 6:10pm:

Bam wrote on Sep 19^th, 2019 at 5:41pm:

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

You're dreaming

Doesn't change the facts: Australia has had unemployment maintained below 2 per cent before. The country didn't go broke.

Calling 4% unemployment "full employment" is a bare-faced lie.

4% full employment is not a bare faced lie. Those 2% figures may have existed over a half a century ago but the participation rate was also much much lower. It actually makes quite a difference. you should factor in.

Why should we accept that neoliberal rubbish? There's no credible proof anywhere to support that.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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rhino

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Re: Unemployment Lifts To 12 Month High
Reply #11 - Sep 19^th, 2019 at 10:40pm

Bobby. wrote on Sep 19^th, 2019 at 8:48pm:

aquascoot wrote on Sep 19^th, 2019 at 6:55pm:

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

Aqua,
Most people who start their own business end in failure -
they lose their arse.
You're using an unusual example to try and win an argument.
It's a fallacy of exception to the rule.

Hes right though. The world is experiencing more change due to technological advances than any other time in history. You can be a prole and a victim of circumstance or reinvent yourself.

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crocodile

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Re: Unemployment Lifts To 12 Month High
Reply #12 - Sep 19^th, 2019 at 11:44pm

Bam wrote on Sep 19^th, 2019 at 9:58pm:

crocodile wrote on Sep 19^th, 2019 at 8:41pm:

Bam wrote on Sep 19^th, 2019 at 6:41pm:

crocodile wrote on Sep 19^th, 2019 at 6:10pm:

Bam wrote on Sep 19^th, 2019 at 5:41pm:

Quote:

Forward indicators of the jobs market have been pointing to a drift up in the jobless rate, which the Reserve Bank of Australia (RBA) has said needs to fall to at least 4.5 per cent to start putting upward pressure on wages.

It needs to fall to below 2 per cent. Unemployment has been chronically high for 40 years.

You're dreaming

Doesn't change the facts: Australia has had unemployment maintained below 2 per cent before. The country didn't go broke.

Calling 4% unemployment "full employment" is a bare-faced lie.

4% full employment is not a bare faced lie. Those 2% figures may have existed over a half a century ago but the participation rate was also much much lower. It actually makes quite a difference. you should factor in.

Why should we accept that neoliberal rubbish? There's no credible proof anywhere to support that.

Christ you're a fukken idiot sometimes. Are you disputing that the participation rate in the '50s and '60s was not lower than today's and it has no material effect on employment outcomes.

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Very funny Scotty, now beam down my clothes.

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Bobby.

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Re: Unemployment Lifts To 12 Month High
Reply #13 - Sep 19^th, 2019 at 11:46pm

rhino wrote on Sep 19^th, 2019 at 10:40pm:

Bobby. wrote on Sep 19^th, 2019 at 8:48pm:

aquascoot wrote on Sep 19^th, 2019 at 6:55pm:

Unemployment will inevitably rise
A few very elite people who can scale their productivity with technology will see most people become totally irrelevant to the job market

It's going to be rough

A company like Instagram which was acquired for 13 billion dollars had only a dozen employees at the time of its acquisition

Instagram is now the world's leading company for photographic display
a few decades ago hundreds of thousands of people were employed making film developing film Kodak all the various camera companies
A few elite people will take most of the old jobs

If you are a whining complaining little sook the chances that there is a job for you in the new economy is 0

You are going to have to create your own job
You are going to have to create your own meaning if you can't have a job and you end up on government paid ubi

I think most people need to come to the realisation that they are probably going to have a lower standard of living and they're going to have to derive meaning and purpose from their lives while having less
This is doable

But for someone who is a value leech and wants to take and receive without giving
Your time is up
Act like that in the you economy and you are screwed

Aqua,
Most people who start their own business end in failure -
they lose their arse.
You're using an unusual example to try and win an argument.
It's a fallacy of exception to the rule.

Hes right though. The world is experiencing more change due to technological advances than any other time in history. You can be a prole and a victim of circumstance or reinvent yourself.

He may have a point -
I may to have to start my own part time business too.
The workforce is turning into gig jobs
not full time jobs.

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whiteknight

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Re: Unemployment Lifts To 12 Month High
Reply #14 - Sep 20^th, 2019 at 5:04am

Unemployment increases to 5.3% driven by sluggish domestic demand
19 September 2019
ACTU

Unemployment increases to 5.3% driven by sluggish domestic demand

Unemployment has increased to 5.3 per cent and underemployment has increased to 8.6 per cent according to data released this morning by the ABS.

More than a million working people need more hours of work and more than 700,000 people are unemployed.

The Morrison Government has claimed low wage growth as a feature of its economic plan and refuses to act to address persistently high underemployment and growing unemployment.

Today has shown that strategy is costing people in their pay packets and their search for jobs.

Quotes attributable to ACTU Secretary Sally McManus

“The Morrison Government is trying to hide the reality about its economic performance by focusing on the performance of rubbery budget figures while ignoring the increase in unemployment and underemployment.

“What good is a budget surplus when there aren’t enough jobs, when there aren’t enough hours, and there are thousands of workers who haven’t seen a real pay rise in almost seven years?

“A lack of real action to lift wages is driving down consumer demand and that is holding back job creation.

“Despite the warm glow from massaged budget figures that they are trying to bask in today the reality is that Morrison’s wages crisis is hurting the real economy, real jobs and real people.”

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