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It Didn't Snow In Australia: February Full-Time Jobs Surge Is Third Highest Ever
Australia just added the 3rd most full-time jobs ever in a month according to the Aussie Bureau of Statistics. That is 16-times the average monthly gain since 1978. Of course, rather than shrug it off as some idiotic aberration as the nation suffers under the crushing blow of a collapsing commodit market and shrinking China, "traders" bid AUDJPY to the moon (which sparked a mini-rally in US equity futures).
Today's print is only bettered y Aug 1991 and Feb 2011...
and that managed to get traders to run through stops on AUDJPY at 93.00
We assume it didn't snow in Australia
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I wonder what happened? Was there a change in .gov policies there? But one month indicators don´t mean much, just LOOK at that jagged ozzie jobs chart.
Monthly aberration. The long term trend is of rising unemployment, lower participation and a shift from fulltime to parttime jobs.
https://drbenway.blogspot.com
Talk about smothering the baby in the bedsheets
The Australian minimum wage is 16 dollars an hour. Plus they have affordable healthcare. Me likeee. Bitches.
Cant compete unless you are working for $2 a day
a high min wage simply reflects our multi-tiered tax burdens.... household debt has been climbing to allow the pretence of a decent standard of living. Most charts I've viewed show job growth to be in gov't areas with shrinkage in the productive areas that might actually grow our economy; and our healthcare is not so affordable the premiums are frequently jacked up and we're bullied into paying them by the ATO and we still get slugged out of pocket expenses that beat the UK and France.
http://www.abc.net.au/news/2013-04-29/health-care-advocacy-group-calls-f...
http://www.news.com.au/lifestyle/health/medibank-paid-440000-hospital-bi...
http://www.abc.net.au/news/2013-12-23/nib-to-lift-health-insurance-premi...
I know ,16 dollars an hour sucks, fortunately usually only part timers stuck with that, most people average around 30 dollars an hour, most of us would not get out of bed for less than 25.
gotta be an aberration or an error. Every week there's news of some multi national pulling out - toyota, ford, holden - all throwing 1000's on the breadline - plus the knock on effect to the outsourced parts makers
not to mention the significant drop in mining investment
Agree.
http://www.abc.net.au/news/2014-02-19/abs-figures-show-annual-wages-grow...
Isnt it summer/fall there?
Autumn
I was one of the samples in an Australian Bureau of Statics job survey about 10 years ago. I recall receiving a call every month or so and them asking how many hours I worked in the previous week. I initially offered to have me taken off from the survey because I worked from home in a very specialized field, and hours were short and highly irregular. But I was told I was just one of many samples, and if that's the way I worked, it should be reflected in the statistics. One day I got curious and asked about the size of the sample. Can you guess how many people were polled? Just a little over 200 people for the entire nation. I stopped taking part in the survey after that. I don't know about the situation now, but a small size of the sample could explain the wild fluctuation showing up in the graph.
Aust lost my vote - literally they lost my recorded vote!!
Now I have a please explain letter. A relative was asked why he voted 5 times.
We both voted ONCE as is legally required or punished by a fine.
Health insurance hikes were triple CPI. Debt ceiling vanquished, unprecedent bond sale, unemployment magically reverses trend, wage growth the worst in decades..... its a farce
If you'd like to see am understanding of why this UE is suspect see here;
http://www.macrobusiness.com.au/2014/03/boom-goes-labour-market/
..probably just a short need for arachnid annihilators.
http://www.telegraph.co.uk/news/picturegalleries/worldnews/9126583/A-plague-of-spiders-caused-by-severe-floods-in-Australia.html
Those Aussies work hard! Love those Aussies!
Is It me or does "It Didn't snow in Australia" sound line a Neil Diamond song that hit the cutting room floor?
It does in fact Fonz. The Blue Mountains and over the Tasmanian Straight/
Yen! I'm lost man. I am on the sidelines right now and the game has been suspended due to heavy fog. I can't see shit clearly anymore. All the best to you my man. I hope you have a better compass than I do.
Austrailia...another land of the free...
http://talkingpoints.com.au/2014/03/r-p-free-speech-protesters-can-now-charged-750-2-years-gaol-attending-protests-victoria/Of course Aust unemployment at 6% while the maniacs in government fudge.
In a HFT 'roman empire' world all is well.
Any humans that traded the AUD on the 5day EMA (1hr chart) with the machines, all the power to you, pre the melt-up.
Did you get some 666? You deserve it more then any of us!
I know I'm busting my balls trying to survive this sh*th hole world.
But no, I missed it. You can trade the HFTs MAs or better to become one. Leveraged short pos have been annihilated on squirrelly algo madness.
So, say good night to King Dollar! Message to the FED, "you go ahead and keep rates artficially low through 2015 and we'll see you at all time USD lows, sub 2% 10yr and another Nikkei crash"! They're not going to get out of this one!!!
there is a clear and very pervasive goal seeked trend that many bonuses and institutional options expiry are relying on currently.....the "markets cannot go red at all costs" is very obvious especially before next weeks fed meetings....everybody thats anybody knows something is up.....unfortunately i/we are nobody.
"markets cannot go red at all costs"
This part of your reply covers everything! We are the people and the people will prevail, just make sure you have guns, bullets, MRE's, PM's and porn.
Foarward!
Raised interest rates in New Zealand as well.
http://www.smh.com.au/business/markets/new-zealand-raises-official-inter...
Don't see that "contagion" spreading anytime soon of course.
Australia has about 1/3rd of the population mortguaged to the hilt and 1/3rd renting. negatively geared investment property is an amazing thing and it will be amusing to watch the implosion if ever interest rates rise.
No worries there, Aussie banks get their cash from the US and the Fed will keep rates low forever, so massive property boom winding up, I am usually in Perth which has over built in apartments horribly but still wants mining boom prices for them but I am currently in Brisbane and have been looking at housing in Brisbane, it is booming, just like in 2007, only restricted by the supply of builders. Alos tge amount of businesses and light industry moving into Brisbane is staggering, I have no idea why.
Its a good place for the Japanese people to relocate??
Plenty of spare capacity with those of us who live here making plans to flee the fascist state governor and his mandatory sentencing, anti association laws etc .... Can you believe the neo liberal (republican equiv) schmuck is over in the states as we speak sucking some Republican cock and looking for brownie points ? I read today the NY gov applauded his Anti Association laws and just wished he could ram some through over there in a similar fashion.
This place is not the country it used to be.
watch these bastards try to explain the reason for the ''market'' going up triple digits tomm will be due to the australian jobs report.
it will be very funny when they use this reasoning.
Yesterday we had a record bond offering also, blaming this on the jerbs is funny
West Australian unemployment rate up from 5.2 to 5.9%. I think most of these jobs must be real estate related - Chinese interpreters, yuan money laundering, doc adjusters (doubling applicants salaries/assets) etc etc
Will there be much real estate rehypothecation similar to what we are seeing in china do you think?
No - 4 big banks own 90% of it and they are always looked after by the gov. Our mortgages follow the person not the asset so you can't walk away from them (and the interest rate is variable so it can kill you through no fault of your own) ... debt slavery at its finest.
Probably had a mass influx of Indians and not the whoo, whoo, whoo type.
blow jobs?
Healthcare is awesome here even if you have to wait for non essential ops. I had a son burst his Aorta. Should of died but miracuously pulled thru.
He was operated on, repaired, spent 1 month in Intensive Care because of complications (terrible time!!!) he finally pulled thru and it cost him / us 0
The Specialists then told the rest of the family to get checked which we did, and the next youngest son needed an emerg open heart as well. He waited 6 weeks, had the op spent 7 days in hopital and cost him us $0
Specialists then told us we need to be tested yearly which we are, cost us $0
People whinge but, believe me, it is an awesome system where we pay an extra 2% income tax as of 1986 (I think)
We do pay high taxes but, it is the best country on the planet!
True that! I earn 6 figures but I am to old to get a fair price from Medical insurers. So I pay a penalty on top of the 2% (of 2% more). Ok so it cost me anually on my $44,000 tax bill $1760 per annum. And if your medical condition is graded as Urgent, say Cancer, Brain, Heart, Lung, liver or something that could get nasty, you are seen by the best Specialists in the Country withing 10 days for comfirmation tests and currently 18 days maximum for Surgury if required. Cost is not $0 if you have good income but for my Bladder cancer 7 years back - from blood in urine to operation was 12 days and cost me $87 after rebates for the scans/ blood tests. The follow up reveiws (Cyscosopy - camera up the Urethra) was regulated for 6 years and that cost $0.00. On the last visit they even scanned the Kidneys to see they where OK.
Single Payer system works great as long as set up right and the Medical Boards dictate price paid for service and the Phamacuticals are tendered to the lowest bidder. And they screw Big Phama, Big time (New Zealand and Australia phama Boards compare notes and then use the lowest price to get an even lower price, that is, they play ping pong with them).
All prescriptions are near free ($ 3.50)if you have a health Card.(low income) if your well off even a Billionare, the most expensive drugs are a small co pay. I don't have any scripts for 5 years but I think they are around around $15 - $20 per script (Maximum) for drugs that cost $1500.00 and up in the USA.
No One gets Bankrupted because of illness and every one is treated the same according to their needs and urgency
But, but, but single payer is communist!
According to anyone here that have never actually dealt with a single payer system....
\hattip
of course it didnt fucking snow here it is the middle of fucking summer
Anyone with eyes in Australia can see the countries economy is decline. During the mining boom the governments dished out the money left right and centre. I moved here in 2003 and got $7000.00 first home buyers grant, then $5000.00 baby bonus x 3. The lucky country certainly was that. However its all bad news these days, the money is drying up, the drs where I work are refusing to sign new contracts, the car industry is finished, quantas just laid of thousands. Unfortunately due to the mining boom all anyone wants to do is sit on the beach tossing it off. The welfare state is enourmous, people without jobs have iphones. Things are going to get nasty here very soon IMO.
Google "Dutch Disease"...
And no, it is not that one...
Not that anyone will probably read this as the Site has moved on but you're 100% right!
Australia is resiliant though. We are always a few years behind the rest financially but unemployment is about to hit double digits here and the population is getting older.
Trouble is a brewin