Wayne Swan is a genius: unemployment drops

[Jovial Monk]

http://www.abs.gov.au/ausstats/abs@.nsf ... Jan%202012

MEDIA RELEASE

16 February 2012
Embargo: 11.30 am (Canberra time)
16/2012

Australia's unemployment rate decreased 0.1 percentage points to 5.1 per cent in January 2012

Australia's seasonally adjusted unemployment rate decreased 0.1 percentage points to 5.1 per cent in January, as announced by the Australian Bureau of Statistics (ABS) today.

The ABS reported the number of people employed increased by 46,300 to 11,463,900 in January. The increase in employment was driven by increased part-time employment, up 34,000 people to 3,400,800, and an increase in full-time employment, up 12,300 people to 8,063,100. The increase in seasonally adjusted part-time was driven by an increase in female part-time employment whereas the increase full time employment was driven by an increase in male full-time employment.

The number of people unemployed decreased by 15,300 people to 614,200 in January, the ABS reported.

Gittins 2 days ago:
http://www.theage.com.au/opinion/politi ... 1t42e.html

[mantra]

Most of these jobs would have to be in the service industry because the manufacturing, banking and telco industries are discarding employees at an alarming rate.

It's hard to read too much into these figures because January is always a busy time of year for many businesses and the increase in employment is predominantly due to part-time jobs - which could possibly mean casual employment.

[Mattus]

It's hard to read too much into these figures because January is always a busy time of year for many businesses.

If only there was some way to adjust for such seasonal variation.

[Jovial Monk]

The private sector is still dis and de leveraging.

As incomes rise tho there should be more money that they would be willing to spend.

Not posting a link but on my board there is discussion on this subject. So much debt was incurred in a mad borrow-spend boom in the years 2000-2007 that people are not going to move out of the saving habit for a while. So, just the econom getting stronger 2012-13.

In July the ETS comes into force and people will realise that things are going to go on but they have more money even after paying the electricity bills that I expect spending, consumer and small-medium business, to pick up in the second half. Also a surplus more substantial than expected will be announced in May.