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Unemployment rate decreased to 4.9% in April 2012; But 10,500 full-time jobs lost
Topic Started: 10 May 2012, 12:49 PM (5,195 Views)
Nelson
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http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/6202.0Media%20Release1Apr%202012

http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0?OpenDocument

The miserable doomsayers lose AGAIN!!!!

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Strindberg
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Macrobusiness don't believe it.
Folk there resorting to the W C Fields approach when he was dying and found reading the Bible:
Quote:
 
I'm looking for a loop-hole.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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davel
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Awesome, takes pressure off more rate cuts. Let the long slow slide continue!

Its win-win for Bears at the minute. :D
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Trojan
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Quote:
 
Australia's jobless rate surprisingly fell to the lowest in a year last month, reducing the likelihood that the Reserve Bank will cut interest rates again next month.

Australia's unemployment level in April came in at 4.9 per cent, according to the Australian Bureau of Statistics. Economists had tipped the jobless rate to increase to 5.3 per cent from 5.2 per cent in March.

Read more: http://www.smh.com.au/business/jobless-rate-in-surprise-fall-20120510-1ye84.html#ixzz1uQdPwBiD


Interesting although I note most of the job creations were part time jobs.
Still, not heading up to 10.3% as Roy Morgan polls reported earlier
http://www.roymorgan.com/news/polls/2012/4746/
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Lefty
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A good result on the face of it, though the participation rate fell.

It does run counter to a raft of data heading the other way - softening growth, disinflation, falling job ads, weakening services sector etc - but the data is what it is.

But month-on-month employment figures tend to be volitile and there is a reasonable margin for error. I tend to feel the actual situation is probably just more of the same that we've been seeing for quite some time. I hope that the broad labour market situation is good and all the factors indicating weakness are wrong but that seems unlikely to me. The effects of the governments fiscal consolidation are yet to be felt as well.

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Lefty
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Hmm - the bulk of the job creation appears to have been in Victoria.

So Victoria is outperforming the mining states? Really?

I guess this is why the ABS stresses that the survey has a margin of error.
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WestAussie
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Jobs Dry Up

So sad, to bad bulls. Wheres all that income coming from to support the market now? Good ole Australia trying to hide its true problems through not so clever word play and statistics.

With figures like that I'm sure people are making enough and housing stress is reducing. No wait. Its not. Its now even worse! Surprise surprise bulls always 2 steps behind.
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Sydneyite
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WestAussie
10 May 2012, 02:17 PM
Jobs Dry Up

So sad, to bad bulls. Wheres all that income coming from to support the market now? Good ole Australia trying to hide its true problems through not so clever word play and statistics.

With figures like that I'm sure people are making enough and housing stress is reducing. No wait. Its not. Its now even worse! Surprise surprise bulls always 2 steps behind.
:re: The story you just linked to shows the unemployment rate having dropped to 4.9%!

Participation numbers can be quite volatile, but at the end of the day, if people decide to drop out of the work-force, then one would normally presume they can do this because their circumstances allow. So not sure I see the big negative there you are suggesting?
For Aussie property bears, "denial", is not just a long river in North Africa.....
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Trojan
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Quote:
 

The Bureau urges us to focus on its trend figures, which smooth out the volatility. The estimate that jobs are now growing by about 10,000 a month, with unemployment steady at 5.1 per cent. That’s probably the most accurate figure in today’s release.

Read more: http://www.smh.com.au/business/take-jobs-surprise-with-grain-of-salt-20120510-1yeiz.html#ixzz1uQxwOfNa


Pretty much where I stand on this issue.
Wonder why all the jobs lost in the job lost thread hasn't effected a massive jump in unemployment?
For every job lost (eg in manufacturing) another one is created (eg in mining)
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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ajGold
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Swan interviewed on ABC after the Budget speech indicated that unemployment is expected to rise to something around 5.8%.
ABS figures come out almost 1% lower. What's going on between Treasury and ABS here?
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