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Unemployment jumps to 12 year high of 6.4%; ABS 6202.0 - Labour Force, Australia, July 2014
Topic Started: 7 Aug 2014, 12:56 PM (7,968 Views)
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skamy
8 Aug 2014, 01:00 AM
Not really because there is a lot of construction on the books and retail, tourism and all the GFC affected areas etc will recover at some stage.

This was the time everyone was expecting the impact of the completion of the big mining projects to hit. The economy should return to pre-GFC/ pre-investment boom conditions fairly soon.
They are hitting, that's why unemployment is at twelve year highs.

The artificial construction boom is a result of the debt mania, nothing to do with any real or fundamental growth, just exactly the same as Ireland and euro and US before they collapsed. Just more borrowed moneybeing wasted on a basic neccesity that does nothing but rob the real economy of more money over longer periods.
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Mallard
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herbie
7 Aug 2014, 10:04 PM
But am I statistically weird? ... :)
It depends. If there are just a few people like you then we wouldn't expect to pick you up in a random sample. I didn't mean to offend. It's just that you might be rare enough to not make it into the stats
lulldapull
7 Aug 2014, 10:21 PM
gents, there's a reason why we've renamed him as 'mallard of the ass'...........cuz he's a fuckin dumb ass!
Makes a change from having a go at the Chinese, you daft racist.
John Frum
7 Aug 2014, 09:53 PM
Wow, you are one seriously deluded individual if you expect the peak is near and all that's needed is a fillip for sentiment.

Go and look at the numbers for youth employment - they're sky high.

And while you're at it, show me a company on a hiring binge. I can tell you at the Big 4 they're hiring in some departments, namely the ones building online services - offering the same products that once required the services of call center operators or branch staff. They know what's coming and they're making plans.

You can talk it down all you like, but the data speaks for itself.
We shall see...
Edited by Mallard, 8 Aug 2014, 05:40 AM.
Collecting desperation.
Ex-Bp Golly April 2 2015. "I see with a slight overshoot -70% [fall in Sydney house prices] as being well within possibility"
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newjez
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John Frum
7 Aug 2014, 09:53 PM
Wow, you are one seriously deluded individual if you expect the peak is near and all that's needed is a fillip for sentiment.

Go and look at the numbers for youth employment - they're sky high.

And while you're at it, show me a company on a hiring binge. I can tell you at the Big 4 they're hiring in some departments, namely the ones building online services - offering the same products that once required the services of call center operators or branch staff. They know what's coming and they're making plans.

You can talk it down all you like, but the data speaks for itself.
Why have data entry staff when your customer can do the work for free, and they even think they are being empowered?

Why do I keep getting a blue out Alex? I have to refresh the page to get rid of it. Only get it on apf, and only on my nexus?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Lef-tee
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Lay off the personal attacks Leftie, you only damage your own rep not mine.


Ah, so you didn't have me on ignore. You were just deliberately ignoring me :)

I'm merely highlighting the fact that your typical modus operandi is to take a slice of the facts and figures about an issue - specifically, the bit of information that appeal to you - and then blow them up so that instead of being part of the argument, they become the argument.

But simply winning an argument does not necessarily make that argument true. The best, most carefully constructed and skillfully put argument that black is white may end up convincing people but it will not magically cause black to actually become white. Black will still be black and white will still be white. The argument did not help expand anyone's understanding, it probably just led to people being run down on zebra crossings. I'm interested in the truth.

Did I run around waving my arms in the air, shrieking about armageddon when these job figures came out? No. I said that based upon my current level of understanding, the situation is poor but not quite as bad as it looks and there is the possibility (though a weak one I think) that the labour market has actually turned a corner and is showing some small improvement again, albeit very modest. Based on my understanding, I believe that to be the truth of the matter. If the facts are shown to change, I will change my mind.
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goldbug
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To discuss the rate of unemployment, be it at 6% or 12% is meaningless actually and you are only pulling your old fella and conning yourself if you don't consider the aberrations statistical manipulation and social security programs have caused. Close to 1 million australians are on disability support alone, one hours work a week and you are classified as employed! Its complete bullshit to discuss the government unemployment figure.

If we calculated unemployment as we did in 1960 Australia would probably be in the high twenties. We have the highest rate of taxation we have ever seen and most of the economic stimulus here now comes from debt creation related to housing. It's a farce and you all know it.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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John Frum
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goldbug
8 Aug 2014, 09:10 AM
To discuss the rate of unemployment, be it at 6% or 12% is meaningless actually and you are only pulling your old fella and conning yourself if you don't consider the aberrations statistical manipulation and social security programs have caused. Close to 1 million australians are on disability support alone, one hours work a week and you are classified as employed! Its complete bullshit to discuss the government unemployment figure.

If we calculated unemployment as we did in 1960 Australia would probably be in the high twenties. We have the highest rate of taxation we have ever seen and most of the economic stimulus here now comes from debt creation related to housing. It's a farce and you all know it.
Sorry to piss on your parade but they calculate the average hours worked per person too, that will give you some idea.
newjez
8 Aug 2014, 06:06 AM
Why have data entry staff when your customer can do the work for free, and they even think they are being empowered?
It's not just cost cutting. People are time poor these days, what with the double income streams required to make the repayments for the family dogbox, so they'd actually prefer to deal with a bank that way. The day of the old granny hobbling in to make a withdrawal and have a natter with the clerk are fast disappearing - she now has to spend her days babysitting the grandkids, to relieve the burden of child care costs for the double income parents furiously pedaling on the mouse wheel to make the aforementioned repayments.
Edited by John Frum, 8 Aug 2014, 10:09 AM.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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DragonGM
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For all the mocking of the US economy that we have done over the last 6 years, it now seems like we are trading places with them. (or maybe joining them is a more accurate description).
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goldbug
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The average hours worked per person, so what? There are millions and millions collecting welfare payments that didnt exist 35 years ago. Most of those people ARE unemployed, they are just being paid to keep out of sight out of mind. Half of all those on a carer benefit are lazy slobs looking for a way to sit at home and watch tv and get paid for it.

You haven't a clue john, not a clue as to what is really going on in this unsustainable 70 year experiment. Your unemployment figure is simply a tool of manipulation to instill confidence in a herd of lemmings that are rushing toward a financial cliff.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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skamy
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8 Aug 2014, 01:38 AM
They are hitting, that's why unemployment is at twelve year highs.

The artificial construction boom is a result of the debt mania, nothing to do with any real or fundamental growth, just exactly the same as Ireland and euro and US before they collapsed. Just more borrowed moneybeing wasted on a basic neccesity that does nothing but rob the real economy of more money over longer periods.
Ted sign in - you are the only person I know still thinking resource rich Australia is just like poor old Ireland.

Why Dublin grew by 25% last year didn't you hear http://www.irishtimes.com/business/dublin-house-prices-rise-nearly-25-in-12-months-1.1876799
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Ex BP Golly
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skamy
8 Aug 2014, 10:56 AM
Ted sign in - you are the only person I know still thinking resource rich Australia is just like poor old Ireland.

Why Dublin grew by 25% last year didn't you hear http://www.irishtimes.com/business/dublin-house-prices-rise-nearly-25-in-12-months-1.1876799
Did you hear the joke about the Irishman and his re-inflating house price?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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