Deficit: $22.6 billion, up from $12.3 billion in the Mid-Year Economic and Fiscal Outlook (MYEFO) in November. This year’s deficit will increase to $49.4 billion from $41.5 billion in MYEFO. The famous “return to surplus” in 2012-13 remains intact — $3.5 billion, up a smidgeon from MYEFO. GDP: 4%, up from 3.75% in MYEFO. But growth this […]
Unemployment
Cox: Gillard’s preaching doesn’t offer salvation for unemployed
‘Labor by name and Labour by nature’ may be a catchy title but it does little for those society excludes and then rejects. Julia Gillard ignores the evidence the problem with unemployment is as much a demand side problem as the fault of the unemployed.
Gillard mixes language of the Right with rhetoric from the Left
Julia Gillard gave a speech on jobs at the Sydney Institute, which almost everyone only heard what they wanted to hear. And what they seemed to want to hear was that Julia Gillard was beating up on unemployed, writes Greg Jericho.
NSW Labor’s parting gift — a rise in unemployment
Big falls in unemployment in Victoria and South Australia have helped drive the national unemployment rate below 5% in March.
Inconvenient labour data for the deregulationistas
February unemployment data shows more solid growth in the economy, and the forecast rise in industrial disputes hasn’t materialised.
Employment data might give pause to hairshirt brigade — or not
The rise in unemployment is good news and bad news — good news because it reflects higher participation, but bad news because it confirms the domestic economy is still soft.
Political snippets: Where’s the employment boom?
Well so much for the booming employment market. Australian Bureau of Statistics figures out this morning show the seasonally adjusted unemployment rate was higher in October than it was back in January -
Huffington: It all came down to jobs and the economy
Now that the US midterm elections are over, the postmortems begin. There will be innumerable different opinions about what went wrong for the Democrats but it all boils down to one truth: they took a beating because of jobs and the economy, writes Arianna Huffington.
Why Americans should take a pay cut
With nearly 20% of US workers currently unemployed, the best way for workers to protect their current struggling employers is to agree to a drop in wages, writes Derek Thompson. Better to pay workers less than having the government pay unemployment benefits
lol 
Things I learnt while unemployed
Just because there is a recession, doesn’t mean your resume can’t be filled up with interesting and useful skills. Like “developed and implemented a strategy to hide employment status from potential dates.” Critical for the selection criteria, surely.
The best “I quit!” tales
Perhaps it’s the depressing unemployment statsthat has the US enthralled with the flight attendant walking out on his job via the emergency inflatable slide tale. Regardless, here’s a round up of the finest going-out-in-a-blaze-of-glory resignation stories.
Political snippets: The young are struggling for jobs
Youth unemployment — those aged 15-19 and wanting to be in the workforce — has reached its highest level in nearly a decade.
Will the US always suffer high unemployment?
Massive technological changes have made many jobs redundant in the last few years. Technology won’t destroy employment rates forever, but it will make economic recovery more difficult.
Jobs growth still strong, despite the rising tide of bad news
The Australian economy continues to create jobs at a rate faster than most market forecasts. Employers gave jobs to another 26,900 people in May, more than most market estimates.
Crikey Says: Forget Europe, the US is on life support
Greece is on life support. Spain is ailing. Britain is far from well. But the really sick patient in the global emergency ward isn’t in Europe.
Rudd overpromised on indigenous unemployment
Tthe Australian government might have exacerbated the expansion of the Indigenous unemployment gap, report Professor Jon Altman and Dr Nicholas Biddle.
VIDEO: Which US regions were hardest hit by the GFC?
A disturbing video showing unemployment rates increasing across the US since January 2007. Just watch as the US blackens and huge parts of the US experience unemployment over 10%.
Australia to grow above its trend rate, says OECD
So why didn’t the morning newspapers use the OECD mid-year economic forecast update? The OECD said that Australia will see strong growth this year and next, above its trend rate.
Unemployment down, but Labor’s marginals have suffered
Many of Labor’s most crucial marginal seats are also among the hardest hit by unemployment, with 14 electorates having unemployment rates over the national average, new data shows.
Unemployment by number
Some fascinating — yet depressing — statistics on US unemployment. Only 21% of people who were unemployed last August were employed by this March, while it can take up to 200 days to hire a federal employee.
What if unemployment was as forecast?
Back in the 2009/10 budget, Treasury forecast that unemployment in Australia would hit 8.25% around June 2010. Possum Comitatus charts that against what actually happened, showing two very different Australias.
Not a budget for the battlers
This Federal Budget is all about economics. Which means you’ll find nothing of use for the asylum seekers, the homeless or the unemployed and Australia’s poorer for it, writes Frank Quinlan.
Doling out the hard truths on youth
Young people are naive, criminals or lazy, if you listen to the political rhetoric. In which case, Abbott’s plan to ban the dole for under 30s makes sense. Except, moving an unskilled person away from their support network and down a mine is ridiculous, writes Dr James Arvanitakis.
Political snippets: Employment reality check
The GFc might have gone but the unemployment rate is still well above the pre-crisis rate of 4%. Plus, an interest rate rise is good news for the government, the leaders in their matching outfits and other political news.
Jobs and debt for everybody!
The dramatic fall in Australian productivity is the dark side of the strength of our labour market. It’s also the mirror image of what’s going on in the United States.
