Australian Job Losses

[numbercruncher]

Re: 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...



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

Yes it demonstrates how dire things are when an "employed" person is defined as working 2hrs or more a week and the experts tip 9pc unemployment by 2009 ....

Every day that passes brings us closer to that fabled Banana republic.

 

[GumbyLearner]

Re: Oz Unemployment

Yes it demonstrates how dire things are when an "employed" person is defined as working 2hrs or more a week and the experts tip 9pc unemployment by 2009 ....

Every day that passes brings us closer to that fabled Banana republic.

Absolutely agree NC! Total Garbage!

But you could agree to a "fairer" system from an Overlord and work for much less. You know a guy that has a lot to say about this is Numbercrucher and/or you or me!

My own opinion of the IMF/World Bank or Made-off is that he NEVER HAS A CHANCE TO survive to fight another day! But you know what....(he is pretty GUTLESS and vulnerable ATM unless he humbles HIMSELF!) Probably at a greater risk of getting neck-tied than your average fella in the street. I wouldnt be surprised to see this guy get physicalled smashed compared to retail investors who have worked all their lives for MADOFF's promise of a return!

What a terribly dishonest guy!

This guy has committed fraud against his own investors, by tellpmg them they will for sure have a greter return (ie.10% GARBAGE)

He never was a retail investor!


In the words of Paul Hogan....

Come and Get Me... F***en Pussy!

BEAUTIFUL ONE DAY, DODGY THE NEXT!!!!!!!!!!!!!!!!!!!!!

 

[Aussiejeff]

Here is the ABS 2006 Employment comparison of the Labour Force Survey with the 2006 Census. The Labour Force Survey is generally taken as the "more accurate" figures.

In fact, my statement that the ABS regards an "employed" person as working more than 2 hours per week was PLAIN WRONG. My humble apologies. I just visited the ABS website and discovered it's actually [size=+1]ONE hour per week or more over the age of 15!!!![/size] How ridiculous!!

For your ultimate enlightenment, here be from the horses mouths -

3.9 The definition of employment used in the Labour Force Survey aligns closely with the concepts and international definitions outlined above. Employed persons are defined as all persons 15 years of age and over who, during the reference week:

(a) worked for one hour or more for pay, profit, commission or payment in kind, in a job or business or on a farm (comprising employees, employers and own account workers); or

(b) worked for one hour or more without pay in a family business or on a farm (i.e. contributing family workers); or

(c) were employees who had a job but were not at work and were:
+ away from work for less than four weeks up to the end of the reference week; or
+ away from work for more than four weeks up to the end of the reference week and received pay for some or all of the four week period to the end of the reference week; or
+ away from work as a standard work or shift arrangement; or
+ on strike or locked out; or
+ on workers' compensation and expected to be returning to their job; or

(d) were employers or own-account workers, who had a job, business or farm, but were not at work.

I love definition (b). Working for 1 hour or more FOR NO PAY! So the ABS also includes lots of "part time family employees earning nothing" in the stats? Imagine if everyone was in that category? They could claim 100% Ozzie employment - but no actual disposable income. LOL. This is the sort of rubbish stats that the Gummint & ABS include that mislead people into thinking our employment stats are so "wonderful".

Regarding the attached 2006 LFS breakdown of "employment by hours worked", note they include 525,900 people as having worked 0 hours!! LOL (I presume it really means from 0-1 hours?).

Also interesting to see how almost 40% of the part-timers (ie, PART TIME is those who were working between 0-35 hrs per week during the survey period) were in the 1-15hrs per week bracket! I would guess the percentages in that bracket are a LOT higher atm.

So, my re-assessment would be that the real impact of falling national total hours of employment on GDP is a LOT WORSE than I previously had estimated, since the ABS appears to be including all over 15's who work 0-35 hrs as being part-time employed!!

I'd love to see the current percentage breakdown in the LFS to compare it with the 2006 figures. Can't find it though.

 

[gfresh]

What an absolute ****ing joke.. I knew it was dodgy, but not even that much.

This sort of thing should be added to every news story which mentions the (very shifty) unemployment figures!

 

[nomore4s]

Job losses starting to really gain momentum now.

BHP axing over 3000 (in Aust)
DJS - 150
HVN - 40 with more to come
Aust Discount Retail Group (company that owns Crazy Clarks) has gone bust - 2700 at risk of losing jobs.

And this is just what has been announced this week!

I read somewhere that with BHP axing jobs there has now been over 8000 jobs axed from the mining industry since June.

You imagine there has to be more job cuts coming shortly from the retail industry, and it wouldn't surprise me to see the banks starting to shed staff either - especially as thier profits contract.

 

[prawn_86]

Yep, looking just peachy for those graduating this year, even the gov is cutting back.

 

[MrBurns]

Yep, looking just peachy for those graduating this year, even the gov is cutting back.

Rudd should put his money where his mouth is on this, employ more not less

 

[nomore4s]

Burnsie, what about Rudds form, telling employees to hold back on asking for a pay increase but at the same time he's paying his staff who are already on huge salaries bonuses.

 

[MrBurns]

Burnsie, what about Rudds form, telling employees to hold back on asking for a pay increase but at the same time he's paying his staff who are already on huge salaries bonuses.

He's also telling employers not to sack people, so he should lead by example, in fact he should be employing more to help out.

 

[prawn_86]

He's also telling employers not to sack people, so he should lead by example, in fact he should be employing more to help out.

Oh no, the gov is allowed to be *cough* fiscally conservative *cough* and try to save money (while still racking up a massive deficit, work that out), but business should do whats right for the country...

Politics... its all the biggest crock of **** going

 

[MrBurns]

Oh no, the gov is allowed to be *cough* fiscally conservative *cough* and try to save money (while still racking up a massive deficit, work that out), but business should do whats right for the country...

Politics... its all the biggest crock of **** going

Amen..........

 

[Aussiejeff]

Job losses starting to really gain momentum now.

BHP axing over 3000 (in Aust)
DJS - 150
HVN - 40 with more to come
Aust Discount Retail Group (company that owns Crazy Clarks) has gone bust - 2700 at risk of losing jobs.

And this is just what has been announced this week!

I read somewhere that with BHP axing jobs there has now been over 8000 jobs axed from the mining industry since June.

You imagine there has to be more job cuts coming shortly from the retail industry, and it wouldn't surprise me to see the banks starting to shed staff either - especially as thier profits contract.

In local Albury news, add to the list - Sam's Discount Warehouses & Go-Lo discount stores are also now in the hands of receivers as of today. Stores will be forced to close and staff dismissed if buyers cannot be found. Hmmm. Who would be crazy enough to buy into ANY tight margin discount business at this point in time? I don't fancy their chances of getting buyers.


aj

PS: Are these the same as Crazy Clark's?

 

[gfresh]

PS: Are these the same as Crazy Clark's?

Yes.. as well as "The Warehouse Group", and "Chickenfeed" (whoever they are)

Crazy Clark's is big in QLD.. will be quite a few out of work here if no buyer. I also have nowhere to buy my work xmas presents this year

400 stores Australia wide apparently:

ref: http://en.wikipedia.org/wiki/Australian_Discount_Retail

 

[Aussiejeff]

No problemo.

Oh Mighty Supa-KRudd has spoken. Employers across the nation will heed his rally-call and retain ALL employees at ALL cost, even sacrificing their own wages to do so! See? Big Brother BHP, quaking with fear at their Mighty Leader's call, have responded in kind!!

Hallelujah.....

:silly:

 

[investorpaul]

Over the next 6 months we are going to see a raft of job losses. Retailers have come out of the christmas/post christmas sales realising how bad the market is and will be quick to cut costs.

Miners/financial companies have probably seen it coming a little bit longer and if they hadnt already laid off staff and now realised they need to do so and quickly. The market is changing so suddenly they cannot leave themselves vunerable and have to cut costs.

In regard the the ABS calculating unemployment figures, if they insist on including part time employment (at least 1 hr a week) surely they should weight the calculation to give more emphasis on full time employment. Ie the the current unemployment rate approx 4.6% but if you weighted it to discount the impact of part timer (1 hr a week) then it would be 5.5% (or whatever it worked out to be). Or find some other way or providing a more accurate picture. All the current unemployment rate allows for is K Rudd to puff his chest and say unemployment is still low.

 

[noirua]

The UK's unemployment rate reached 6.1% at the end of November 2008. Forecasts are for the rate to reach 10% by 2010 and peak at around 12% by 2011.

If the UK's position was similar to 1929 then Australia's unemployment rate would peak at around 16%.
The mining sector is laying off and all the dependant industries will contract or fold.

 

[Aussiejeff]

The UK's unemployment rate reached 6.1% at the end of November 2008. Forecasts are for the rate to reach 10% by 2010 and peak at around 12% by 2011.

If the UK's position was similar to 1929 then Australia's unemployment rate would peak at around 16%.
The mining sector is laying off and all the dependant industries will contract or fold.

Aye. There be tha rub!

All you tend to see in the media is the "big" announcements of job cuts from major or well known companies.

In fact there will be significant "compounding" job losses in the myriads of smaller companies, labour contractors and service suppliers etc. who are allied to the big companies and probably totally dependent on the bigger companies operating at close to maximum capacity or productivity.

This "hidden unemployment multiplier" shouldn't be under-estimated (unless you are SupaKRudd or Swan-ee).

aj

 

[MR.]

Aust Discount Retail Group (company that owns Crazy Clarks) has gone bust - 2700 at risk of losing jobs.

In local Albury news, add to the list - Sam's Discount Warehouses & Go-Lo discount stores are also now in the hands of receivers as of today.

Now I'd think that Crazy Clarks and Go-Lo stores would do better (being discount stores) than others. Aldi thinks the sky's the limit under the current conditions! Debt must be the problem here! .... Good old debt bringing some of the worlds finest and oldest companies un-stuck.

Makes you wonder where this will end if every company is geared!

Remember the aircraft company closures after 9/11 in the US? Many US aircraft companies couldn't get through a single week without the receivers! That opened my eyes!

Yep, looking just peachy for those graduating this year, even the gov is cutting back.

Remember, just need "one hour of work" to be employed!

 

[Beej]

Yep, looking just peachy for those graduating this year, even the gov is cutting back.

Don't stress about it too much - just stay positive and focused on your career goals. I graduated from uni in 1991 when unemployment was rocketing and hit over 10% in the next year or 2, so I know exactly what graduates will be looking at this year and next. It does depend of course what qualification you have and which industry you are interested in etc, but back in 1991 I ended up having no trouble getting a job as a graduate, and all my friends from uni also found proper full time jobs as well - every single one. In the professional ranks, it's middle aged middle managers that can have the biggest problems if laid off as unemployment is rising, as they can be more expensive and fussy, and may have skills that are seen as out of date etc. Graduates are seen as cheaper, "hungrier" labour by many firms in these times - better bang for their bucks.

Cheers,

Beej

 

[GumbyLearner]

Oh no, the gov is allowed to be *cough* fiscally conservative *cough* and try to save money (while still racking up a massive deficit, work that out), but business should do whats right for the country...

Politics... its all the biggest crock of **** going

I totally agree prawn.
Im sure there are many young people like yourslef who will be graduating this year or soon with not much to look for in the job market. And the problem with politics today is that the days of nation-building are a by-gone era. Most of these clowns in politics care about the short-term and what they can get for themselves while in office and who will offer them a whopping salary in the private sector once they get out. Most of them couldnt care less about the country just their OWN hip-pockets. But like Beej said dont give up mate there are jobs out there. Just dont expect any favors from eithger side of politics in Canberra there to busy counting their whopping tax-payer super when they get voted out after two terms at the age of 38.