Why increased worker productivity is bad for the economyWorker productivity in the US has jumped dramatically by 9.5% in the last quarter. Employees working harder for less hours, just what the boss wants in a recession, right? Except, morale is down, productivity isn’t sustainable and workers are simply covering their colleagues who’ve been fired.
Unemployment
Fed’s Thursday statement the key to US concerns
Forrget China, South Korea, and even Japan: when it comes to confidence in the global financial system, the world remains firmly coupled to the US.
US rebound overshadowed by Costco’s food stamps move
So the American recession is over: go tell it to the eight million or more people who have lost their jobs and remain unemployed, the tens of millions more working shorter hours for lower wages, or the 35 million or so on food aid.
The dollar is not an Aussie battler
Don’t get too excited about the super cheap international holidays available right now. A weak Aussie dollar keeps our manufacturing up, our unemployment down and our exports competitive, writes Tom Elliot.
Your Say: Daily Mail readers' feedback: Stimulus and employment
Crikey readers weigh in on the economic stimulus package and jobs as an economic indicator. Plus, Bernard Keane’s alleged jealousy of Joe Hockey.
Unemployment more than just a number
It is probably too early to crack out the bubbly after yesterday’s unemployment data, but things could be much worse. Sinclair Davidson and Ashton de Silva look at the numbers.
Glenn Stevens vindicated by jobless plunge
Reserve Bank Governor Glenn Stevens has developed a reputation for taking what seems to be tough decisions at the wrong time. But the latest job figures have proved him right. Again.
Job ads surge should tip RBA’s hand
The chances of an interest rate rise coming either tomorrow or in November have risen with three job ads surveys all revealing a strengthening in demand for labour.
Political economy: Financial stress on the rise
Kevin Rudd is in New York with Penny Wong fighting valiantly to fix the world’s climate. Meanwhile, back home, financial stress for families on the rise, writes Henry Thornton.
Rudd’s stimulus furphy won’t create jobs
The government is arguing that their stimulus packages have “saved jobs”. But it is difficult to reconcile that statement with this data, writes Sinclair Davidson.
Political economy: the ‘two-speed’ economy is back
Although Australia appears to have dodged a bullet in the global financial meltdown, the economic situation across the country is far from even, writes Henry Thornton.
‘$X per job saved’: the ultimate stimulus lie
When you dump a bucket of money into an economy like the government did, it has consequences. But to trot out the cliché that the stimulus has “cost $X for every projected job saved” is facile and dishonest, says Possum Comitatus.
OECD: Financial Crisis killed 25 million jobs
The OECD may have had good news for Australia’s economy, but its global analysis was less rosy, estimating 25 millions jobs have been lost in the GFC carnage.
Your Say: Daily Mail readers' feedback: Kyle and the meeja
Crikey readers continue to weigh in on Steve Fielding’s spelling issues and whether Godwin’s Law will bring down vile Kyle Sandilands.
Political economy: underemployment — what does it mean?
Now its official — a staggering 14% (or so) of Australia’s workforce are unemployed or underemployed, writes Henry Thornton. What a huge waste of resources.
Four million reasons to doubt the jobless data
For the first time the ABS has released a monthly underemployment estimate, with total hours worked dropping for the 13th month in a row. So the economic narrative continues, good news but things remain fragile.
Rudd’s stimulus package is far from perfect
Our resilient economy has fared well due to 25 years of economic reform beginning with the Hawke government, and not simply due to recent governmental quick fixes, writes Sinclair Davidson.
Job ads spike: could unemployment be on the turn?
There are signs the labour market is changing, with job ads registered by the ANZ Bank and the Olivier employment group both showing the first upturn in more than a year.
US unemployment a social powder keg
On the surface, the latest US unemployment data is better than expected, but it hides the real continuing pain and agony across thousands of American cities and towns.
Political economy: employment data spread cheer
Weekend news had US unemployment rising to 10.7 %, but the better news is that the rate of job loss continues to fall, writes Henry Thornton.
If you think Australia’s working, ask someone who isn’t … much
The news on the jobs front of the Australian economy is mixed. While Rudd’s stimulus package has had an effect on unemployment, it masks a significant rise in underemployment.
Unemployment rates: too good to be true?
It’s employers who are keeping the unemployment rate down, but under-employment levels are rising. What difference does it make? Ross Gittins explains.
Waning working hours are cause for concern
Celebrations of Australia’s gravity-defying unemployment rates are premature, says Stephen Long — the erosion of working hours are still cause for concern, and will still hit households where it hurts.
Rich unemployed are good news for the budget bottom line
The budget deficit will come in at a much smaller number than is currently being projected. Possum Comitatus explains how.
Just 800 more jobless for July
Despite gloomy expectations, Australia’s jobless rate remained steady at 5.8% last month, with a sharp, 32,000 rise in the number of people who found work.
