Jobs, jobs, jobs!

[Lucky_Country]

I see 35,000 jobs were lost in March unemployment rate now at 5.7% where will it end up at ?

All this stimulus money and still jobs being lost what will the unemployment rate be when the stimulus money dries up and what effect will it have on the real economey ?

The FHB grant expires in June and that bubble in the first home buyers market will burst I fear the worst is yet to come.

 

[moXJO]

Re: Jobs,jobs,jobs !!!

Already roughly 8% where I am.

 

[MrBurns]

Re: Jobs,jobs,jobs !!!

Will be 10% at least , been saying that all along.

 

[Lucky_Country]

Re: Jobs,jobs,jobs !!!

What timeline are we talking Im thinking along the 9.5% by the end of 09-10 financial year.

The worry I see is mortgage defauls will get out of control and house prices will fall in the region of 20%

 

[Aussiejeff]

Re: Jobs,jobs,jobs !!!

What timeline are we talking Im thinking along the 9.5% by the end of 09-10 financial year.

The worry I see is mortgage defauls will get out of control and house prices will fall in the region of 20%

Please, don't worry yourself.

KRuddCo Pty Ltd (tm) will have it all in hand.

Under control.

No sweat!

 

[Lucky_Country]

Re: Jobs,jobs,jobs !!!

Please, don't worry yourself.

KRuddCo Pty Ltd (tm) will have it all in hand.

Under control.

No sweat!

Umm not sure about that in fact I think they may make the matter alot worse !!!

I dread to think what the national debt will be by the end of their spending spree then if the economey turns sour again where will they find anymore money from ?

FHB grant is just an accident waiting to happen the buyers could really be in trouble there.

No wonder the airhostess was in tears ahhhh

 

[MrBurns]

34,700 Australians lost their jobs in March - according to Crikey

 

[Sean K]

If you're not good enough, then you don't deserve one!

I haven't had a job in 5 years.



:

 

[investorpaul]

Re: Jobs,jobs,jobs !!!

What timeline are we talking Im thinking along the 9.5% by the end of 09-10 financial year.

The worry I see is mortgage defauls will get out of control and house prices will fall in the region of 20%

I think you will be pretty close with the figure of 9.5%, a couple more months and it really will start hitting the fan.

People out there are still saying "dont worry its still only 5.2, 5.7%" these are the people who will be most affected when it hits 8.5 to 9.5%, there will be alot of FHBuyers and people who still use their credit card like cash who get caught up in the mess.

More pain ahead, its just a matter of time.

Furthermore these are the people who think Rudd is a genius, they look at him and go wow:
- I got $900
- I got a first home buyers grant
- His building a new broadband network
- his doing up schools, hospitals and infrastructure.

What they dont realise is that they will/and are going to pay for it.

They talk about the need for financial literacy to be taught at school, they should really teach how to understand government policy and how nothing is free in life.

 

[Pappon]

Totally agree on that, the $900 handout is taking our country into debt to hand this out it has to be paid back at some stage and by whom? Us the taxpayers so for those that think the stimulus package is a good think you'll pay it back 10 fold!

 

[robots]

hello,

yeah man we all finished, gone, stuffed,

thankyou
robots

 

[Julia]

Totally agree on that, the $900 handout is taking our country into debt to hand this out it has to be paid back at some stage and by whom? Us the taxpayers so for those that think the stimulus package is a good think you'll pay it back 10 fold!

I think you will be pretty close with the figure of 9.5%, a couple more months and it really will start hitting the fan.

People out there are still saying "dont worry its still only 5.2, 5.7%" these are the people who will be most affected when it hits 8.5 to 9.5%, there will be alot of FHBuyers and people who still use their credit card like cash who get caught up in the mess.

More pain ahead, its just a matter of time.

Furthermore these are the people who think Rudd is a genius, they look at him and go wow:
- I got $900
- I got a first home buyers grant
- His building a new broadband network
- his doing up schools, hospitals and infrastructure.

What they dont realise is that they will/and are going to pay for it.

They talk about the need for financial literacy to be taught at school, they should really teach how to understand government policy and how nothing is free in life.

Agreed.

Professor Warwick MacGibbon, Reserve Bank member, was on the 7.30 Report this evening. It was interesting to hear him say that he was not in favour of the cash handouts. That should give the Rudd government pause for thought.

 

[Lucky_Country]

Kevin 07 is more worried about popularity polls than national accounts.

The $41 billion on the NBN is just going to take years to pay off with no business plan whatsoever.

It our hard money and we need to justify the spending.

$100 billion debt and a ressesion but we will have loft insulation !!!!

 

[Uncle Festivus]

Apparently it doesn't matter if people don't have a job. All that matter's is if the stock market is going up - mission accomplished - again! 'Going forward' the market is pricing in good times again with the 'second half recovery'? People get real, don't listen to the facts, the market bottom has been passed, onwards & upwards again. Back to the Ostrich Bull Market.

 

[Pappon]

Look out for the next hand out when election time comes POTENTIAL BREAKOUT profit target $900!!! You heard me call it hear first!! LOL

 

[Smurf1976]

If you're going to stimulate the economy with handouts then there's two real choices:

1. Bail out the massive private debts incurred over the past few years by handing cash to taxpayers. That enables consumers to carry on spending on imported goods thus increasing foreign debt and ultimately requiring another bailout when credit is maxed out again.

2. Spend on productive infrastructure that does nothing in the short term to ease the pain for voters but produces employment for some and a long term increase in national wealth.

Personally I'd prefer option 2. Sadly, many Aussies are dumb enough to vote for anyone promising option 1.

Politically, Howard transferred debt from government to individuals and Rudd's reversing the process. Labor's roughly as bad as the Liberals on this one since neither approach does anything to increase national wealth in the long term about. Shuffling money about isn't productive industry.

We're now paying the price for three decades of economic ideology that largely didn't work. We privatised, it stuffed up catastrophically and now we're nationalising the consequences. It would have been cheaper to not have undertaken the whole money shuffling exercise in the first place, focussing instead on productive industry that actually creates wealth. You know, the very thing we let go to ruin whilst arguing about who ought to own the gas pipes or build a road and who ought to hold this country's massive debts. I'd rather see the debts paid off than spend 3 decades arguing about whose name is on the card.

 

[kincella]

interesting article out today...report by the Australian Institute...about 11.7% unemployment.....the AI report shows there are a further 710,000 people who want to work,***** but are not actively looking for work...they claim to be carers, housekeepers etc...
the criteria for the ABS report is that to claim to be unemployed...****one must be actively looking for work....
oh and the ABS is a survey of 23,000 households....and the figures are then estimated for the total population.....
so how do you feel now...is it 5.7 or 11.7% unemployed.....
my question is why are 710,000 people wanting to work...but are not looking for work...maybe its how the question was presented to them....
eg; could you be bothered waking up on time,,,travelling to work, working 8 hours for a minimum 200,000 a year.....they probably would say yes....
but since their chances of earning even 50,000 are slim...they do not bother...and there is another one supporting them anyway.....
grrrrrrrrrrrrrrrr
http://www.news.com.au/business/story/0,27753,25314387-31037,00.html

 

[bluelabel]

So what is this 5.7% based upon. Doesnt the government class someone as being in work as working 4-5 hours a week. You surely can't class these people as employed.

the criteria for the ABS report is that to claim to be unemployed...****one must be actively looking for work....

Having worked for job network not so long ago, this is a crock too. All you have to do to be "activly looking for work" is rock up to appointments.
They should change the stats to people who rock up to job network providers are 5.7% (and yes, rock up is the most appropriate term)

:bier:

blue

 

[Uncle Festivus]

Smurf for PM campaign

Common sense & logic takes a very distant 2nd place to myopic money shuffling finance & political bureaucracy kingdom builders with their sights firmly on the next bonus or the next election. We need 10, 20, 30 years plans.

In that sense democracy fails in that we don't have a real say in things as it really comes down to what demands are made by 2 senators and or whatever the party line is - there is no conscious voting of a real democracy.

We have the means to have a direct say right now, but the powers that be would rather walk over shards of glass than to divest real democracy to the people?

 

[Aussiejeff]

So what is this 5.7% based upon. Doesnt the government class someone as being in work as working 4-5 hours a week. You surely can't class these people as employed.

Having worked for job network not so long ago, this is a crock too. All you have to do to be "activly looking for work" is rock up to appointments.
They should change the stats to people who rock up to job network providers are 5.7% (and yes, rock up is the most appropriate term)

:bier:

blue

Nope. Not even close. As I have previously quoted in another post somewhere, it is only 1 hour per week to qualify as "employed" and thus not become an "unemployed" statistic!

You can find their definitions in the the Bureau of Stats website.

Ridiculous, ain't it?


aj