The jobless rate has lagged the slide in the economy. Now, it’s catching up.
Global Financial Crisis
Ask the commentators: Jobs? We picked this
Contrary to the shock headlines, the hotly-anticipated ABS labour force data released this morning revealed what more pessimistic analysts had been predicting for weeks.
Business for Qantas can never be the same again
The old pyramid shaped revenue model where most of the money was made from the smallest cadre of high fare paying frequent flyers was fatally wounded by the rise of low cost carriers.
Crikey Says: Australia’s political parties divided again — about time!
In Australia the GFC and has redrawn the lines of engagement, pushing Liberal and Labour back into colours last seen in the great debates of the sixties and seventies, before the narrow free-market orthodoxies of the late twentieth and new 21st century drew both parties to within a hair’s breadth of each other.
Recession inspires US citizens to bear arms
In the last four weeks alone, six mass shootings have killed 47 people in the United States.
Don’t panic! US Fed tells flailing economy
A surprise speech overnight from the US Fed used words like “recession”, “depression” and “panic” at will, writes Glenn Dyer.
The business case for pro-sports evaporates
The French rugby team, the English soccer team, the Southampton Premier League soccer team and the Texas Rangers baseball team are all in trouble, writes Glenn Dyer.
SackWatch: The firings keep coming as job ads fall by 45%
Since Crikey published its sixth SackWatch update last week, the tips box has again been running rampant with fresh tales of shoulder-tapping in businesses across the nation, reports Andrew Crook.
G20 done, Rudd’s recession rubber hits the road
Rudd’s inclusiveness is in part a political weapon to isolate the Coalition from the mainstream, writes Bernard Keane.
Sharemarket boomlet will end in tears
The rising sharemarket is ignoring the shaky fundamentals that continue to haunt the global economy, writes Glenn Dyer.
The ugliest Budget in decades way behind schedule
The Budget process is significantly behind schedule, according to sources in the Canberra bureaucracy, delayed by the continuing collapse in revenue projections and the need to find all possible savings, writes Bernard Keane.
Kohler: All spin, no substance emerging from G20
I have devoted a couple of hours this morning to trying to figure out what has changed from the G20 — hours I will never get back. I think it is all just spin, writes Alan Kohler.
US back fiddling the books on GFC
As the G20 were preening and congratulating themselves, US regulators were hard at work changing their accounting standards to placate the likes of Citigroup, writes Glenn Dyer.
Banker bonus restrictions: bad for business
While Main Street is revolting against lavish remuneration showered upon executives and investment bankers, some of the actions being taken by legislatures could be causing more harm than good, writes Adam Schwab.
SackWatch: unemployment heads to double digits
After a three week hiatus, Crikey’s SackWatch is back in full swing.
US house prices which continue to fall, unchecked
House prices in the 20 biggest American cities dropped a nasty 19% in the year to January, writes Glenn Dyer.
Employment services tender process cooked by recession
The Government has unexpectedly found itself with a problem consequent to the nature of the current Job network service contracts, writes Bernard Keane.
It’s official — RBA talks recession, cues next rate cut
When politicians forecast a recession, the market yawns; but when a senior big wig at the Reserve Bank makes the same forecast, we all sit up and take notice, writes Glenn Dyer.
OECD: Unemployment and chaos will rock the world
Jobs, rather the lack of them, is going to be the big issue of the next couple of years, writes Glenn Dyer.
Curing Greenspan’s expansion with expansion
Chairman of Australia’s Future Fund, David Murray AO, yesterday attacked central banks for their role in the global financial crisis, writes Adam Schwab.
Economists call bottom on GFC
Economists among the first to call “recession” last year have emerged to call an end to the current slowdown, writes Glenn Dyer.
The Courier Mail’s Sino economy stuff-up
Scratch a News Ltd journalist on the issue of Chinese foreign investment and you get a load of tosh, writes Glenn Dyer.
Risk transparency: the key to a secure financial system
The source of toxicity is the core problem plagueing the global financial system — removing it is central to restoring confidence, writes Ralph McKay.
Google sacks 200 in sales and marketing
This is an unfamiliar place for the search giant, whose hockey-stick growth in search has funded massive expansion into new businesses and philanthropic activities. Google has doubled staff in the past two years, growing from 10,674 at the end of 2006 to 22,222 at the end of last year.
