Economy surging ahead

[Jovial Monk]

Wow, the good news just keeps happening!

Unemployment rate rises despite jobs boost

Australia's unemployment rate rose to 5.1 per cent in May despite the surprise creation of nearly 40,000 full-time jobs, as more people joined the hunt for work.

The latest figures from the Australian Bureau of Statistics show that a total of 38,900 jobs were created in the month on a seasonally adjusted basis.

The bureau says that 46,100 full-time jobs were added to the economy, while 7,200 part-time jobs disappeared.

The participation rate rose from 65.2 per cent to 65.5 per cent, suggesting more people had taken up the hunt for work.

http://www.abc.net.au/news/2012-06-07/u ... ay/4057706" onclick="window.open(this.href);return false;

More looking for work, so the uptick in GDP has been noticed. 46,100 full time jobs added, a stunning result! All this with Abbott’s daily negativity and the fear of the carbon tax (sic) he has obviously inculcated in some. Watch the Sep quarter figures, even better by far I bet!

[mantra]

Wow, the good news just keeps happening!

Unemployment rate rises despite jobs boost

Australia's unemployment rate rose to 5.1 per cent in May despite the surprise creation of nearly 40,000 full-time jobs, as more people joined the hunt for work.

The latest figures from the Australian Bureau of Statistics show that a total of 38,900 jobs were created in the month on a seasonally adjusted basis.

The bureau says that 46,100 full-time jobs were added to the economy, while 7,200 part-time jobs disappeared.

The participation rate rose from 65.2 per cent to 65.5 per cent, suggesting more people had taken up the hunt for work.

More looking for work, so the uptick in GDP has been noticed. 46,100 full time jobs added, a stunning result! All this with Abbott’s daily negativity and the fear of the carbon tax (sic) he has obviously inculcated in some. Watch the Sep quarter figures, even better by far I bet!

That figure of 7,200 part time jobs disappearing is misleading and doesn't mention those with their hours slashed during winter and most of spring. All governments pretend that one hour a week plus equals employment. It does - but many if not most of the part-time jobs are seasonal.

There is real hardship occurring for many casual and part time workers.

The government's boast doesn't make sense. Where are these 46,000 full time jobs occurring? In government bureaucracies, mining companies & Woolworths perhaps?

[Jovial Monk]

They are what the figures are, Mantra. If you want detail, visit the ABS site. 40,000 fulltime jobs created is good!

Next month with the tripling of the tax free threshold retail spending will increase and I am sure even more people will be looking for and finding part time work.

Re the one hour definition yes I think it is crap but it is a standard used by all developed economies AFAIK. Doesn’t mean the person is considered to be in full time work of course.

But it is a great result. Even more so considering the number of English, Irish & Greek immigrants fleeing the 20+% unemployment.

[Neferti]

They are what the figures are, Mantra. If you want detail, visit the ABS site. 40,000 fulltime jobs created is good!

Next month with the tripling of the tax free threshold retail spending will increase and I am sure even more people will be looking for and finding part time work.

Re the one hour definition yes I think it is crap but it is a standard used by all developed economies AFAIK. Doesn’t mean the person is considered to be in full time work of course.

But it is a great result. Even more so considering the number of English, Irish & Greek immigrants fleeing the 20+% unemployment.

Will you disappear from your pseudo economic bullshit artist persona in an instant if I say Abracadabra?

[mellie]

They are what the figures are, Mantra. If you want detail, visit the ABS site. 40,000 fulltime jobs created is good!

Next month with the tripling of the tax free threshold retail spending will increase and I am sure even more people will be looking for and finding part time work.

Re the one hour definition yes I think it is crap but it is a standard used by all developed economies AFAIK. Doesn’t mean the person is considered to be in full time work of course.

But it is a great result. Even more so considering the number of English, Irish & Greek immigrants fleeing the 20+% unemployment.

Will you disappear from your pseudo economic bullshit artist persona in an instant if I say Abracadabra?

Yes, I prefer his pseudo-psychiatrist persona myself, incredible as this seems, but at least it was insightful, re- his projection thingy.

The worst thing we ever did was make light of his online business adventures yesterday, now he's spawned into a fully fledged economist, complete with masters degree.

Fvck.. .. What have we done!

[Jovial Monk]

Poor old Abbott, the soon to be former LOTO

Mr Abbott said encouraging figures were "always welcome''.

"But a lot of Australians today are saying, 'Wayne Swan does not live in the same world that we inhabit','' the Opposition Leader said in Victoria this morning.

"He's running around patting himself on the back, calling himself the 'world's greatest treasurer'.

"What I see people are saying is: 'shops closing down, my job under pressure, my wages under pressure, my costs going up' _ and look we're all delighted to see that the mining industry is still strong and we're all thrilled that the mining industry is carrying the Australian economy.

"So look let's be grateful for small mercies and that's what I suppose those figures yesterday were. But economic management does not depend on the occasional good statistic. Economic management depends upon consistent good policy and that's what we haven't had from this government.''

http://www.dailytelegraph.com.au/news/t ... 6387441542" onclick="window.open(this.href);return false;

He looks gorn. Mining industry my arse, household consumption was up a solid 0.9%, 40K new jobs, $3000 saved on mortgage repayments due to rate cuts, underlying inflation 1.6% etc. That comes only from superb economic management.

[Super Nova]

That comes only from superb economic management.

True. It is fantastic that Little Johnny left the ecconomy in such a good state.

That the crisis inthe world has seen Australia as a safe haven.

That China has not crashed and burned.

That there is money for Labor to waste.

Buckle up Australia, if you vote Labor in again your tern for a deep dive after the rest of the western world get their shit together will be around the corner.

[Jovial Monk]

Oh man, how can you be so deluded?

The Rodent spent recklessly, irresponsibly, loaded the Budget with billions of dollars of middleclass welfare, which Swanny has been busy cutting out, repairing the Budget and getting it into surplus like 4 years after the biggest economic crisis since the Great Depression.

The other thing the Rodent did, encouraged a credit fuelled spending boom that we are just recovering from.

It is 4 years and one economic crisis since Howard got booted out of power and out of his own seat. He has nothing to do with the record performance of our economy now.

Not only that, if SN truly is in London then he is seeing the destruction of an economy by the Tories.

[mellie]

I have learned my lesson, believe you me, this and will never vote Labor again.

I voted for Keven 2007, and saying this feels like I should be confessing this in some group-therapy session for wayward misinformed voters.



Most embarrassing.

[mellie]

Acceptance.

Acceptance is the first step to the misinformed idiotic voter recovery process.

You should try it some time Monk, it's quite humbling.



______________________

My problem was I was too young to recall just how lousy a Labor government was in comparison to a more competent Howard government.

Whats your excuse Monk?