Check out the raw data not the news.com headline. The figures are not too bad at all. The raw data were all positive showing more jobs, more participation,more hours worked and less unemployed persons for August than July.
The seasonally adjusted figure for unemployed is the only one which went backward and that is probably not that statistically significant, see quote below from the ABS here. They get revised as the season progresses so next month the revised figures for August will likely be more useful.
Quote:
This means that month-to-month movements of the seasonally adjusted estimates may not be reliable indicators of trend behaviour
Apart from the ACT, WA has significantly lower unemployment rates than the rest of the country. It amazes me that Perth bears actually believe there may be a downturn in WA when the unemployment levels are much higher in other regions that are still experiencing house price rises.
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.
Please don't, because youve been consistently wrong.
You made me laugh so much I nearly spilled my coffee. Been drinking again BG? Let's wait till Nov when the abs stats come out. You all will just slime your way out of anything. Hell, maybe the abs stats will be up 15% like Mike predicted. You never know.
skamy
12 Sep 2013, 03:25 PM
Check out the raw data not the news.com headline. The figures are not too bad at all. The raw data were all positive showing more jobs, more participation,more hours worked and less unemployed persons for August than July.
The seasonally adjusted figure for unemployed is the only one which went backward and that is probably not that statistically significant, see quote below from the ABS here. They get revised as the season progresses so next month the revised figures for August will likely be more useful.
Apart from the ACT, WA has significantly lower unemployment rates than the rest of the country. It amazes me that Perth bears actually believe there may be a downturn in WA when the unemployment levels are much higher in other regions that are still experiencing house price rises.
Since when are seasonally adjusted figures not statistically relevant? Please!
Apart from the ACT, WA has significantly lower unemployment rates than the rest of the country. It amazes me that Perth bears actually believe there may be a downturn in WA when the unemployment levels are much higher in other regions that are still experiencing house price rises.
I'm amazed you wont tell us a nice story about US banks and the Irish economy.
Its sounds gripping.
Do tell!
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
You made me laugh so much I nearly spilled my coffee. Been drinking again BG? Let's wait till Nov when the abs stats come out. You all will just slime your way out of anything. Hell, maybe the abs stats will be up 15% like Mike predicted. You never know. Since when are seasonally adjusted figures not statistically relevant? Please!
You have been consistently wrong Newjez ,
You better stick to writing your novels.
It's nice to know that I'm a joke to you. Cockroach.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Check out the raw data not the news.com headline. The figures are not too bad at all. The raw data were all positive showing more jobs, more participation,more hours worked and less unemployed persons for August than July.
The seasonally adjusted figure for unemployed is the only one which went backward and that is probably not that statistically significant, see quote below from the ABS here. They get revised as the season progresses so next month the revised figures for August will likely be more useful.
Apart from the ACT, WA has significantly lower unemployment rates than the rest of the country. It amazes me that Perth bears actually believe there may be a downturn in WA when the unemployment levels are much higher in other regions that are still experiencing house price rises.
Two points....
9 months ago WA stood as the jobs creation capital of Australia. It now stands third last.
WA is one of only two states where employees are working less hours.
Since when are seasonally adjusted figures not statistically relevant? Please!
Read the quote from the ABS. In fact I recommend you read the whole section on how they calculate and later modify the seasonally adjusted figures.
Next month this figure of 5% may very well be modified. So it is not too smart to take the figure as being a true representation of trend.
Perthite
12 Sep 2013, 06:20 PM
Two points....
9 months ago WA stood as the jobs creation capital of Australia. It now stands third last.
WA is one of only two states where employees are working less hours.
Oh come on Perthite you know these figures are good. Most countries in the world would die for such low unemployment figures. Expectation was for worse as the transition to a more normal economy occurs. WA is still doing very well indeed.
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.
Read the quote from the ABS. In fact I recommend you read the whole section on how they calculate and later modify the seasonally adjusted figures.
Next month this figure of 5% may very well be modified. So it is not too smart to take the figure as being a true representation of trend. Oh come on Perthite you know these figures are good. Most countries in the world would die for such low unemployment figures. Expectation was for worse as the transition to a more normal economy occurs. WA is still doing very well indeed.
Good if the 10,000 jobs didn't go last month. But it happened.
I will try and keep this simple for you with small numbers.
Over the past 12 months fewer than 1,000 jobs have been created per month.
Population growth has exceeded 7,000 people per month.
It is a completely unsustainable situation and that is why either A: more jobs must be created or B: Population growth will fall.
Your last comment is misguided. Most of the Western World has falling unemployment rates. Even Joe Hockey finds it disturbing that this is not the case here.
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