Our unemployment rate is as good as steady:
It may now not even get to 6.5 per cent.
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3 comments:
Peter, I'd be interested to see where the hiring is coming from (i.e. which industries). For that matter, some national stats on who is employed by which industries (and over time) would be good. Sounds like I need to be digging in the ABS web site.
Or me.
I like looking at the ABS Seasonally Guesstimated, rather Adjusted line on the Employed Persons graph: http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0?OpenDocument
Maybe if the artist(s) was not so zealous/enthusiastic with projections, the next leg would not be a whooping drop back down to overshoot the trend line again.
So if the trend line means anything, it is that in the last 12 months the number of employed persons went nowhere. At the same time, Aus took in 171,320 migrants (1) and 320368 students (2) (ignore the 2 million plus tourists for the year).
Total potential increase in workforce for last 12 months is over 490,000 (less spouses & children and non working students). Yet after 12 months there are effectively no extra jobs.
I could be wrong of course, I am just amusing myself with ABS database.
What is it they say about statistics?
(1) http://www.immi.gov.au/media/statistics/statistical-info/visa-grants/migrant.htm
(2) Offshore and Onshore Grants for 2008-09 (PY) INCLUDING eVisa grants EXCLUDING Permission to Work (PTW) and Change of Provider (COP) Grants http://www.immi.gov.au/media/statistics/study/_pdf/2008-09-offshore-onshore-combined-grants.pdf
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