But But But … Wayne And Julia Promised MORE Jobs

23 Dec

Oh what a tangled web we weave!

Wayne Swan, May 2 2011:

“We created 750,000 jobs since we came to office … and we will create half a million more in the next two years”.

Julia Gillard, December 2 2011:

“We are on track to create 300,000 new jobs over the next two years

Roy Morgan Research, December 6 2011:

# In total in November 2011 an estimated 1,982,000 (16.3%) of Australians were unemployed or ‘underemployed.’ This is up 108,000 (0.6%) on October 2011 and up 355,000 (2.6%) since November 2010.

# The latest Roy Morgan unemployment estimate is 3.4% above the 5.2% currently quoted by the ABS for October 2011 — this is the equal largest gap since December 2005 (8.5% Roy Morgan cf. 5.1% ABS).

The Australian Bureau of Statistics, December 8 2011:

Employed Full-time Persons | Click to enlarge

The Daily Telegraph, December 22 2011:

Australia is on the brink of an unemployment catastrophe, with up to 100,000 jobs set to be slashed in the months after Christmas.

But the news isn’t all bad, with economists suggesting the nation’s wobbly economy could drive the official cash rate as low as 3.5 per cent by the end of 2012.

Westpac chief economist Bill Evans, one of the few economists who correctly predicted a rate cut in November, said lead indicators pointed to a very weak employment growth next year.

“We would expect the unemployment rate to edge up to 5.75 over the next six months,” Mr Evans warned.

“But on the flipside, the Reserve Bank would have to cut the cash rate by at least half a per cent to counter (the job losses).”

The comments come as top research firm CoreData suggested the number of unemployed people in Australia will jump by nearly 106,000 next year, assuming the labour force grows at its current rate and the unemployment rate rose to 5.75 per cent, as predicted.

CoreData boss Andrew Inwood said the problem would be felt nationwide.

“One in five Australians now think they are going to lose their jobs in the next 12 months,” Mr Inwood said.

“That’s particularly true in all industries outside finance and mining. Interestingly, our research has found levels of Australian confidence in the economy for the first quarter of 2012 is looking to be roughly the same as it was at the height of the global financial crisis.”

Richard Deniss, executive director of The Australia Institute last night echoed Mr Evans’ views, saying mass layoffs were expected in the retail industry.

“The tourism industry and retail sector are being hit very hard by the high dollar and, while mining is booming, it doesn’t employ too many people,” Mr Deniss said.

“The problem is retail doesn’t make a lot of money but employs a lot of people.”

Mr Deniss’s comments come as retail staff, including many uni students on casual shifts, have seen hours cut.

While major retailers including Myer and David Jones have had huge sales of excess stock to draw in customers, retail union national secretary Joe de Bruyn said workers rostered on for extra shifts before Christmas were having their work cancelled.

“People have been rostered on and retailers are saying ‘We don’t need you any more’,” Mr de Bruyn, from the Shop, Distributive and Allied Employees Association said yesterday.

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2 Responses to “But But But … Wayne And Julia Promised MORE Jobs”

  1. Betty Whiffin December 23, 2011 at 3:13 pm #

    Everything Wayne & Julia promised have all come to nothing. Mr Waste and Ms Mismanagement are their names. It has all been lies, breaking of promises, trickery, backflips and debacles as far as these two are concerned. Whoever believes these two need their heads read.

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