Australian Job Losses

[Illuminated one]

Aren't there millions of factories in China?

I would say this number equates to less than 1%.

Yes, there are millions of factories in China, but there will tens of thousands more closing in the 6 months, however can anyone comprehend 67,500 factories shutting in a couple of months? Isn't that amazing?

 

[numbercruncher]

Aren't there millions of factories in China?

I would say this number equates to less than 1%.

I seriously doubt that .....

I read half of all the toy factories are closed for a start ....

Dont underestimate how HUGE this downturn is, just because we arnt seeing it too bad in our real economy YET.

 

[theasxgorilla]

Yes, there are millions of factories in China, but there will tens of thousands more closing in the 6 months, however can anyone comprehend 67,500 factories shutting in a couple of months? Isn't that amazing?

Eh? Really? 1.3 billion people, assume that millions means at least 2,000,000...that suggests one factory per 650 inhabitants. Sounds like an over-estimation doesn't it?

 

[Illuminated one]

Eh? Really? 1.3 billion people, assume that millions means at least 2,000,000...that suggests one factory per 650 inhabitants. Sounds like an over-estimation doesn't it?

67,500 factories have closed in China over the first half of this year, according to statistics released by the Chinese Communist Party.

That means that in China today, more than 11,000 factories are being shutdown every month.

The massive and rapid closure of factories, especially in the Pearl River Delta area of Southern Guangdong province, have left factory workers irate and seething. The emotion is spilling out into the open with increasing protests.

The shutdown of the factories led to workers taking to the streets to protest, demanding back pay that had not been issued to them. The regime has often used force to suppress these protests and thrown workers into prison.

The global economic recession had caused a steep decline in the Chinese export market, the backbone of many factories that produce cheap goods for the international market.

Maybe it is an overstatement on my behalf, but I'm not far off.....

 

[Bushman]

Eh? Really? 1.3 billion people, assume that millions means at least 2,000,000...that suggests one factory per 650 inhabitants. Sounds like an over-estimation doesn't it?

I guess it all comes down to the definition of a 'factory'.

If you follow your logic, Australia has 22m inhabitants - apply the ratio of 650:1 and you get 33,846 factories. Now if you include small operators (say 1-5 people workshops, small engineering firms, food processors etc) then 34,000 odd factories sounds about right to me.

Then again China has a large rural population that is unlikely to be working in industrial complexes so 2m odd 'factories' might not seem right.

Anyway the point being that 67,000 factories (with a further 30,000 forecast in the next 6 months), whilst a staggeringly large number by Australia standards, needs to be taken in the conext of the total population of factories.

Anyone with an 'official' number for factories in China (and Australia for that matter).

PS: Japanese steel makers have started closing down blast furnaces, which is a measure of the drop in steel orders as it is very rare for furnaces to be closed. Ugly, ugly six months ahead.

 

[MR.]

ANZ Bank increases the number of job cuts to 800.
http://www.abc.net.au/news/stories/2008/12/06/2439543.htm

Banks skim a few percent off their in and out goings. So if the banks continue to cut jobs what is the real effect on the economy. If someone borrowed $60,000 for a home extension the bank’s return (In minus outgoings) per annum is minimal compared to the 60,000 spent on materials and tradesman.



On a side note from the US:
America loses 1.9 million jobs in 11 months (1/4 in November of 533,000)
http://www.theregister.co.uk/2008/12/05/us_nov_2008_jobs_report/

and Canada loses 70,600 jobs in a month, most since '82
http://www.ctv.ca/servlet/ArticleNe.../jobs_numbers_081205/20081205?hub=CTVNewsAt11

 

[banco]

The actual unemployment was higher back in the early 90's.

The government intoduced the "Mature Age Allowance"

One could not retire until 65 years and alot of unemployed were 60 - 65 yrs. So all these 60 - 65 year olds on the unemployment list were transferred to the "Mature Age Allowance"

It made the unemployment figures better at the time. Giving perhaps people a little more confidence. And confidence is/was needed.

If you look at the number of people on the disability pension it looks like labor used it to hide the number of people unemployed during the '80's and early '90's. Howard took some rather timid steps to wind it back but eventually gave up and put it in the too hard basket. Be interesting to see if there is a big spike in the number of people on the disability pension in the next few years.

 

[shaunQ]

If you look at the number of people on the disability pension it looks like labor used it to hide the number of people unemployed during the '80's and early '90's. Howard took some rather timid steps to wind it back but eventually gave up and put it in the too hard basket. Be interesting to see if there is a big spike in the number of people on the disability pension in the next few years.

Both Liberal and Labor have both manipulated the unemployment numbers to their own benefit. Howard was the king of statistical deception, and restricted FOI to avoid scrutiny.

 

[kitehigh]

RIO to slash 14,000 Jobs

Mining giant cuts 14,000 jobs

F AUSTRALIA needed any further evidence the resources boom has shuddered to a halt, it came yesterday in the announcement the world's second biggest miner, Rio Tinto, would lay off 14,000 workers.

Rio Tinto refused to indicate how many of its 17,000 full-time staff and several thousand contractors in Australia would be affected by the cuts. It employs about 110,000 workers and contractors globally.

http://business.smh.com.au/business/mining-giant-cuts-14000-jobs-20081210-6vu1.html

I wonder how many of those will be in Australia, this looks like it starting to get serious.

 

[Aussiejeff]

Re: RIO to slash 14,000 Jobs

Mining giant cuts 14,000 jobs

F AUSTRALIA needed any further evidence the resources boom has shuddered to a halt, it came yesterday in the announcement the world's second biggest miner, Rio Tinto, would lay off 14,000 workers.

Rio Tinto refused to indicate how many of its 17,000 full-time staff and several thousand contractors in Australia would be affected by the cuts. It employs about 110,000 workers and contractors globally.

http://business.smh.com.au/business/mining-giant-cuts-14000-jobs-20081210-6vu1.html

I wonder how many of those will be in Australia, this looks like it starting to get serious.

Don't worry. I'm sure the GuvMint will use some creative statistical accounting to swallow up any job losses with nary a *burp*.

In theory, the GuvMint could declare NO-ONE in Oz is unemployed if they defined anyone who regularly fills out Newstart Forms as being "temporarily employed in office work" (since even a tiny amount of temp work means you don't get counted in the unemployment stats).

Actually, I'm surprised they haven't already done that!

 

[wayneL]

Re: RIO to slash 14,000 Jobs

Don't worry. I'm sure the GuvMint will use some creative statistical accounting to swallow up any job losses with nary a *burp*.

In theory, the GuvMint could declare NO-ONE in Oz is unemployed if they defined anyone who regularly fills out Newstart Forms as being "temporarily employed in office work" (since even a tiny amount of temp work means you don't get counted in the unemployment stats).

Actually, I'm surprised they haven't already done that!

They could do what the Uk does and put everyone on disability pension.

 

[Aussiejeff]

Re: RIO to slash 14,000 Jobs

They could do what the Uk does and put everyone on disability pension.

Silly sausages! That actually costs money! Why not simply tell a lie?

 

[wayneL]

Re: RIO to slash 14,000 Jobs

Silly sausages! That actually costs money! Why not simply tell a lie?

Because it was a Tory idea. It took the Labour Party to figure out that 90% of people believe any BS you tell them.

 

[numbercruncher]

Seems the job losses are stacking up ...

Finance leads the national job lossesEMPLOYMENT Clancy Yeates
December 22, 2008
THE economic crisis is taking its toll on two of the country's biggest employment sectors. The latest official figures show heavy falls in finance and retail jobs in the three months to the end of November.

Wounded by the market turmoil, the finance and insurance sectors posted the sharpest percentage decline of 5.5 per cent, or 22,500 jobs, in the latest quarter.

The industries employ 380,000 people nationally and nearly 7 per cent of Sydney's workforce, but have been rocked by lay-offs from local and international finance houses.

The second-fastest fall came in wholesale trade - the back end of the retail economy - which posted a decline of 5 per cent, or 23,200 jobs, amid poorer sales.

Retail jobs decreased by a more modest 21,200 jobs, or 1.4 per cent, as companies were more likely to cut back-end staff before those on the shop floor.

cont ....

http://business.smh.com.au/business/finance-leads-the-national-job-losses-20081221-72za.html

 

[Aussiejeff]

Seems the job losses are stacking up ...


cont ....

http://business.smh.com.au/business/finance-leads-the-national-job-losses-20081221-72za.html

Those "modest" retail job losses could well become "shocking" after the Xmas & New Year cheer/hangover has worn off and retail sales hit the wall (especially with most imports, especially electrical goods, expected to rocket up 20-30% with post Xmas re-stocking at current exchange rate)

Then come the *groan* Dec Qtr company reports which will probably be some of the worst in Australian corporate history. I expect more massive layoffs after that flurry of paper and ducking for cover as well.

Oh well, don't worry, be happy. It's Xmas

May your leg grow twice as big and strong!!
:santa:

 

[juddy]

The riskiest and safest jobs for 2009

http://www.thewest.com.au/default.aspx?MenuID=77&ContentID=116152

 

[Aussiejeff]

Oz Unemployment

This does not bode well. No matter how Krudd 'n Co. might want to spin up the "offset of part-time employment".

It is patently a ridiculous situation where the Gummint will spin lies, DAMNED LIES about the nett "total un-employment" only growing by 0.1% - when we all know that 1 part-time job (of as little as 2 hours per week) DOES NOT = 1 Full Time job of up to 50 hrs or more per week!

It's time for the Gummint to scrap the current measurement system. The Lil' OZZiEcon is CLEARLY in BIGGER trouble than they want to let on...

[size=+1Massive drop in full-time jobs[/size]
Chris Zappone
January 15, 2009 - 1:42PM

The economy lost 44,000 full-time jobs in December as companies reduce payrolls to brace for a possible recession.

The unemployment rate rose to 4.5% from 4.4% in November, as home loans, construction activity, and business confidence drops.

Full-time employment dropped by 44,000 to 7,640,200 while part-time positions soared 42,800 to 3,102,200, bringing the net loss of jobs to 1200.

Economists had expected 20,000 jobs to be shed last month, but the biggest monthly drop in full-time positions since March 2003 came as a surprise.

'Big worry'

"The massive decline in full-time employment, down nearly 44,000, is a big worry,'' said economist Matt Robinson of Moody's Economy.com. "Even with offsetting force of part-time employment.''

"It shows weakness in job security and workers having their hours cut back. It's a real shift in employers' behaviour.''

The Australian dollar lost as much as a quarter of a US cent to 65.76 US cents after the numbers were published, but climbed back to near 66 US cents around noon

Full article here - http://business.theage.com.au/business/massive-drop-in-fulltime-jobs-20090115-7hdk.html

 

[numbercruncher]

Look how tough our American cousins are doing it ....

With more than three job seekers for every opening, it takes more than printing your resume on premium paper stock to get noticed.

http://money.cnn.com/2009/01/14/pf/unconventional_job_searches/index.htm?postversion=2009011413


Was also just reading dole in US pays USD300 per week and they are talking pumping it up another 25 ...... not bad pay for takin it easy ? alot more than we give our Pensioners etc huh ?

 

[GumbyLearner]

Look how tough our American cousins are doing it ....

Hearing you NC! Its really a question of what is "free" and what is "FAIR" ?

John Howard really said **** the law and setup his own law in Dubai. WHY???
WHY???? WHY??? WHY??
WHY???
Well I think just as any obsequous butt-licking plebe like "MOST" aussies that said

"I wanted to keep my job"

Australia is an Island. The MWA rejected products form South AFrica when Mandela was locked up and ALSO rejected many other DUBIOUS trade deals with other trader nations on this basis!

WHY???

Just remember the Yank farmers treat the Aussie Farmers like some kind of hostile parasite from an economic sense in FREE trade! Even though the US dominates the rule making in the process.

All I can say is.....

Nothing(Censored)

I love this thread !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[GumbyLearner]

Both Liberal and Labor have both manipulated the unemployment numbers to their own benefit. Howard was the king of statistical deception, and restricted FOI to avoid scrutiny.

Agreed. Whats popular and reported is what counts..but not on meal tables!