This page has been archived and commenting is disabled.
Australia's Part-Time Jobs Miracle
While we have grown used to eye-poppingly 'odd' data from China (and increasingly the US), last night's surge in Aussie employment is among the greatest statistical pieces of muppetry we have ever seen. As Bloomberg reports, Australian employers added a record number of jobs in August - great news, right? Confirming CBA's decision to hold rates (not cut) and instantly AUD exploded higher. However, since then AUD has collapsed back to fresh 6-month lows plunging over 300 pips in 4 days. The reason - "the market's skeptical," says one trader, as Aussie's miracle jobs recovery was thanks to a 121,000 surge in part-time employees (equivalent to 1.3 million added in one month in the US).
See anything wrong with this chart?
Did Australia just become USA's smaller brother - adopting the 'any job is a good job' model of a part-time economy?
The market reacts...
* * *
“The market’s skeptical,” said Sean Keane, an Auckland-based analyst at Triple T Consulting and the former head of Asia-Pacific rates trading at Credit Suisse Group AG. “Had today’s headline number been 41,000 rather than 121,000 it’s quite likely that the market would’ve been more believing in its response, and that interest-rate markets would’ve sold off even harder.”
* * *
It seems everywhere in the world, 'managed' data is coming back to bite as the manipulation becomes too obvious.
* * *
Of course - in America, the cognoscenti would simply dismiss it if it were a bad print "I don't believe it," and sure enough the Aussies tonight are noting "the market, like ourselves, didn’t seem to believe the figures," as despite government denials, changes to the survey methodology in July seem to have massively distorted reality.
- 6528 reads
- Printer-friendly version
- Send to friend
- advertisements -




Canada is the same
http://www.nj.com/union/index.ssf/2014/08/deceased_woman_in_elizabeth_wo...
Check this
The poor woman was counted as having created 4 jobs
She could have worked 1 job with the same amount of hours.
God bless her soul
Gonna be a lot of drunk Ozzies this week.
Roo on the Barbie too
Well at least we've got exponential house price growth here in Oz.
Can't go wrong with houses mayte ;)
Get on board the property train, we'll all be housing millionaires.
Yee-fucking-har.
(we'll have mining to fall back on if that doesn't work out as expected...ok how about wool, hear there's money in them there sheep skins...)
Nope, sorry Aussies are screwed like the rest of us until they pull away from the USD.
Our central planners try to create equality by lowering our standards and average, not by raising us higher. Ironically the only Nations that are now growing their middle class are the ex-centrally planned states that have learned from their mistakes and are turning to capitalism.
How long did Madoff run his company with completely fabricated data? Even when the numbers aren't believable people will believe because reality sucks.
Yeah very true. People want to believe in scams, want to believe in magic, want to believe a Nigerian prince is going to send them billions.
See, everyone copies our "innovations". Even in data manipulation. This one lifted straight from the BLS textbook.
Harder to hide in a small country.
It's ALL Lies. Each participant's main goal is to one up the other. Lies beget more lies. The TRUTH will come out.
Yeah, I noticed small symptoms of this happening a while back. This time it was so obvious.
When you come visit Australia, you will see most people are just walking the streets. Go into a supermarket and most people are only buying Coles/Woolworth's Home Brand. There just aren't enough jobs in Australia. They tried hiding it by reducing the participation rate, but that scheme worked for a while until it became too obvious they were manipulating it.
Then the head of statistics or a manager probably said, "Hey fellow statisticians, something looks wrong".
Then we had the release that happened yesterday.
Did you know that If you work 1Hour (3600 seconds) a Month in Australia you are deemed to be EMPLOYED.
You Americans are way to Honest.
Roost/ chickens
The Greater Newcastle/Hunter Valley area is a fantastic example of this. I work a few minutes walk away from an Aldi supermarket, and while it's generally steady business most days, Centrelink (Social Security/Pension) cheque day is a whole bucket of crazy. People are buying the cheapest of the cheapest, and are doing in with reduced frequency (they aren't stocking up, they're just avoiding spending money on travel). While this is anecdotal, I spend enough time in the area to know who are the regulars, where they come from and their patterns, and I've noticed the trends.
Shopping Centres (or malls for US viewers) are as you say - full of people who are just looking. There's some blame to be laid at the feet of the "Australia Tax". There are still a lot of goods whose prices are multiples of those in the US, and they're still made in China, so it's not like we're getting a better quality item. This forces people to go online to purchase after trying something out in store. It sucks for retailers, but stupidly high commercial rents combined with stupid prices will do that.
Another major tell I've found is cafes/restaurants are moving away from using dedicated produce suppliers/bakers/butchers and are buying straight from Aldi (because it's often MUCH cheaper) and still charging the same price for their meals. I have a friend who owns a cafe and I noticed he slowly transitioned to Aldi products, has reduced portion sizes but hasn't reduced prices. I figure he's going to try and make money while people are still giving it to him, but it doesn't sit well with me.
Don't think any "report" can be trusted as accurate. It's like the market, fabricated.
And yet their property is still pushing higher and higher thus giving false hope that Nirvana Has been attained.
With iron ore prices hitting 5 year lows the real pain is yet to come.
But the writing is on the wall. Big banks need 40B for recapitalize in case the housing floor collapses. The banks are strongly reliant on foreign financing and a likely increase to the refinancing cost will burst the housing bubble. S&P is revising Australia´s tipple A status. With China´s weakening iron ore demand this may induce the worst nose dive in Australia´s commodity fuelled boom bust economy and the banks have to be bailed out. Ireland too was a miracle economy, where prices never set.
Australia would be fine if they would stop trying to keep even with the USD. If they left the AUD to float they would be making a killing everywhere.
In 2008 the government bailed out the Aussie banks RMBS, worth 60B. Nobody knows this. The media said nothing, the banks said nothing, the government said nothing.
There is a collusion between media, finance and government in Australia to keep the property game going on. There is no way this thing crashes from the supply-side.
The only way I see this starting to go down is from the demand side. Whether geopolitic shock or employment craters and sends the migrants home creating a glut on vacancies that will make the small-sized property investor yell fire.
Forget looking a sale prices, it's circle jerk. Keep an eye on employment ads and rental vacancies. I live near inner city Sydney, my rent hasn't gone up in 4 years.
Yep,
if you go to martin place, you have the channel 7 building with channel 7 spewing out the propaganda from the lower levels, the higher levels of the same building is the NSW Premier and the 22 state ministers offices right up stairs sharing the same lobby etc, directly across Martin place you have the RBA there running their cartel of the commercial banks with the WESTPAC building right next to both of them. Directly behind the RBA is the Law courts and at the end of martin place right across the road on Maquarie street is NSW parliament house with all the other state level planning degenerates. all of them within 250m of each other, but no no they are all completely seperate entities all looking out for the best interests of Australians.
Good comment. The continual support for the supply side is highly distorting. When it crashes it will crash big time.
I live near inner city Sydney, my rent hasn't gone up in 4 years.
True.
I rent a town house in zone 1 Melbourne and my rent has not increased in 4 years.
So if nobody knows this, how come you do?
Courtesy of compulsory superannuation, Australia has a huge, mainly privately operated, pool of investible funds. You'd think some of those smart folk in those fund managers would have known what was going on with the banks and that would have been reflected in price.
And where did the 60B come from that no one noticed moving around. That's a big chunk of change in Australia, on a per capita basis equivalent to about $800B in the US.
We are all officially dumb niggas. we are all trying to beat the next nigga in data manipulation.
We are all officially dumb niggas. we are all trying to beat the next nigga in data manipulation.
Outlaw full time jobs and the politicians can claim they were job creators.
While the mining industry is bleeding jobs.
This shit is hilarious. Even if the number was 1/2 way off, it still was a good print.
In the U.S. banksters dismiss bad macro as seasonal, bad calculations, weather, polar vortex, Joe LaVorgna-itis, or any other fucking excuse, but the truth!
When it comes to other countries good news means bad news because it must be somehow tainted. The irony and hypocrisy are immeasurable on the B/S scale. The only G-10 country with a slight budget surplus, and AAA+ credit and an interest rate with a pulse is getting hammered. Just wait until the Fed. disappoints next week. ;-)
Up is down & black is white on this Planet...
In this age of productivity no one should have to work more than part time to earn a decent living.
But part time jobs are good. They allow more leisure time -more time to spend with your kids, pursue charitable interests, more time to develop yourself as the fully developed human being and person that you are capable of being -and which God intended you to be.
But of course, all of is dependenet on the part time job paying you full time wages.
I recognize that this could be a problem.
What else would you expect from a country who's a part of the "Coalition of the Willing" cabal?
One minor correction - it's the RBA (Reserve Bank of Aus), not the CBA (Commonwealth Bank of Aus). Although, they're probably basically interchangable anyway.
Edit: There's also this for comedy gold: http://www.theherald.com.au/story/2554053/more-pay-the-way-to-growth-say...
It would seem that no comments are allowed on that article. Probably a good thing - it'd be full of idiots screaming "Yeah! Let's fuggen' do it ya cunz!".
CBA and RBA not interchangeable. They may once have been but CBA, formerly government owned, is now just a big commercial bank with the same sort of ownership and activities as the 3 other big commercial banks.
I just returned from Australia last week. They're nervous about civil unrest, crime and crazy high taxes. The Aussies (pronounced: Ozzies) I was meeting with said the government seems to have a new tax every month. Inflation is running high. I was suprised by the civil unrest comments. They think it's going to pop. Haves and have nots class warfare.
Australia has never been the wonderland American's envision. The 20 hour flight sucks ass too. Not a nice place to visit and I sure as fuck don't want to live there again.
Is there one country on this Godforsaken planet that isn't shitting all over their serfs?
Sorry you had a bad time in Oz. I have land in Queensland and the folks I generally encounter, are really nice people.
Nice people indeed. Not very smart, or well informed, but generally nice.
Speak for yourself ...
Pro Rata we kick ass big time in the 'smart' arena ... I'll concede on the well informed part :(
Not a bad time at all. People were more friendlier than when I lived there over a decade ago. My disappointment was more about things no one talks about.
1. You can't swim in the ocean without wearing a pantyhose outfit. No one mentions the highly poisonous Box (Stinger) jellyfish in the adverts. The Stingers are absolutely EVERYWHERE. Great whites and Crocs too.
2. Very expensive in Oz now that the US dollar is worthless. Everything is 3X the price.
3. It's a such a big country with a small population that you feel like no one is there.
4. Due to depleted ozone you get a major fucking sunburn instead of tan. They do have signs up for that, but none on the adverts before you get there.
5. The Aussie way of putting a long E at the end of so many words. Like breakfast being brekkie, Christmas being Chrissie, ABC network TV being Auntie, beer being a coldie and on and on. It's baby talk and it's really fucking irritating.
6. New Zealand is what American's perceive Australia is like. New Zealand is off the charts AWESOME.
The locals were friendly, but the Aussie's do have a chip on their shoulder like they are the center of the planet. The attitude is since everyone comes to visit their country they must be something special. That was my perception anyway. I heard a stat like 1 out of 20 in Oz are tourist. That's a boatload of tourists!
"3. It's a such a big country with a small population that you feel like no one is there."
You say it like it's a bad thing. In my opinion it is one of the only good things Australia got going for itself.
LOL....I love it when other people see Australia for what it is.....I live here and think it is a giant RIP OFF!
The dumb lingo is annoying.....Aussies have to shorten everything......if your name is David....it's Dave.....Breakfast is Brekkie......have is av.....etc.....
You're sounding a touch anal there mate. Relax, accept people for what they are.
Some fair points but I don't English language corrections from someone who says "more friendlier"
Are you a sissy ? ... this next one is doozy ....
"You can't swim in the ocean without wearing a pantyhose outfit. No one mentions the highly poisonous Box (Stinger) jellyfish in the adverts. The Stingers are absolutely EVERYWHERE. Great whites and Crocs too."
That is just pure streotypical BS ... we own the ocean ... everybody swims / surfs all the time. Cros and Stingers are only an issue in the far North and at certain times of the year ... for the record - is that the most elaborate excuse you've used so far to don the pantyhose ... very creative :)) If you omit the guy that was bitten in half in front of his wife at Byron Bay last week ... sharks are not too much of a problem for fast swimmers.
This is a cracker too ...
"Due to depleted ozone you get a major fucking sunburn instead of tan. They do have signs up for that, but none on the adverts before you get there."
Fair dinkum mate .. we have the cleanest air going around. It's the lack of smog that exposes us to the real sun. We do seem to have a sign for everything but I've never seen any about the gigantic hole in "our" ozone layer ? C'mon admit it ... you're making this shit up as you go along :P
You do realise we think it is your accent that is funny :))
Our government are just lap-dogs of the US train-wreck ... but we do have clean air and plenty of space.
A big fucking howdy to you fucktard. A perfect example.
Looks like fucking pantyhose to me mate.
http://www.stingersuits.com/
Ozone or what-the-fuck-ever. How about NASA fuckstick?
http://www.nasa.gov/topics/earth/features/ozone-aus.html
Australia has some of the highest UV levels in the world: in fact UV radiation is strong enough to cause sunburn in just 11 minutes on a fine January day.
I lived in the Gold Coast and Cairns. THE best beach in Australia are on the Gold Coast.
Box Jellyfish stings have been reported in all months in the Northern Territory, and in all months but June and July in Queensland! June and July are peak winter months.
http://www.outback-australia-travel-secrets.com/box-jellyfish.html
Sorry mate, people were getting sunburnt in Australia since the white man first arrived. No nutters were waffling on about depleted ozone then. It's just clear skies and sun.
Certainly don't have crocs in the southern half of the country where most of the population lives.
Sounds like you were in the north of what is a big country, which is fine, but not representative of what you'd experience in the major cities (no crocs, box jellyfish, few great whites).
Are you sure its your land in Qld?? lol
Former senator john Black explains the AU jobs crisis
http://www.theaustralian.com.au/news/features/the-crisis-the-unemploymen...
Australia's current LIC (ie Liar-In-Chief) Tony Abbott (interestingly a devoted Jesuit who is an ex-monk) might as well be considered a defacto member of the US Congress and the Israeli parliament aligned with such "nobles" as McCain, Lieberman and the Likud Party....
- he immediately adopts US view of world events such as missing Malaysian flight
- he accused Russia of shooting down flight 17 as well
- he instantly committed Australia to US sanctions
- he sent 100-200 Australian Federal Police and "specialists" to investigate the downed plane and then ignores and/or distorts the findings of the preliminary report from the Dutch and again accuses Russia
- he is about to commit the RAAF and Aussie soldiers to fight ISIS
- he is in absolute lock-step with Israel on all matters (as is his Foreign Minister Julie Bishop)
- he wants even more US troops stationed in Australia
- he is combative towards China at every opportunity
He's a fraud, a liar, a warmongerer, is committed to the House of Windsor and a total NWO Globalist......
The building of concentration camps in the pacific to intern refugees that the government had a hand in creating in the first place is downwright fascist.
Wanna solve the refugee "problem"? simple. Stop creating them!
Sri Lanka (supported government of Sri Lanka's persecution of Tamils)
Iraq
Afghanistan
Iran sanctions
Sudan
Indonesia (Suharto, anyone?)
And the average aussie mouthbreather eats this ship up. We've been overrun by refugees! The terrorists are coming!
In Australia you have more chance to die eaten by a shark, on land, than from terrorism.
If they were refugees they'd stop at the first safe place, eg Malaysia or Indonesia, both Muslim countries, or the Tamils would head to India (large Tamil populations in south of India).
They simply come for the benefits, they same as all the "refugees" pouring over the US/Mexican border or pouring into Europe.
You want to look after all these "refugees", you pay for them mate, but keep your hands out of my pocket.
Complete crap. I know because I have worked for SERCO in these "concentration camps". They are a complete joke. The "clients" (yes, they are referred to as clients, NOT detainees) roam around the centers completely unrestricted 24 hours a day. The food is better than most Aussie tax payers can afford. Free internet, plasma TV's, cash handouts from the tax payer so they can buy cigarettes, candy, chips etc. Free medical and dental. Whenever they don't get exactly what they want they just beat up a guard, smash a TV or few or if you really piss them off, burn the places to the ground (and are later GRANTED PERMANENT RESIDENCE). If the internet connection hangs when they are chatting to their freinds on Facebook they just smash the computer into a million pieces but not to worry- there is a new one waiting for them (courtesy of the tax payer) the very next day. I've seen all this with my own eyes mate.
These people are SCUM. Next to none of them are genuine refugees. They are welfare leaches who come here for their free goodies.
I think if any fucker is going to get it in the 'West' it will be Abbott, he is more hated than anyone ever, heck Congress and Hitler have more popularity. A friend of mine mentioned today that he might have been punched by uni students today or something like that, I haven't seen anything of that yet but it wouldn't surprise me at all. Agree on everything you have said, the lowest of the low.
Pull your head out of where you parked it mate.
Abbott was never a monk. He did spend some time in a seminary and then left it and he is a religious man. For many years he has spent a week each year living in the outback with various Aboriginal groups, without the media tagging along. He has long belonged to his local surf life saving club and to the local volunteer fire service (again without the media hanging around). He's actually a decent bloke.
You seem to have forgotten Labor's Gillard fawning over Obama every chance she got, and there was an increase in US troops in Australia under Gillard (the US-Australia alliance has actually long been bipartisan policy in Australia).
So far as China is concerned you are way off base. Abbott recently had a very successful visit to China and was warmly welcomed by the Chinese government. He didn't make the mistake of pissing off his hosts as did Kevin Rudd, the former Labor PM, who went there and publicly lectured the Chinese on what he saw as their failings.
Under Labor, there was spying on the Indonesian leaders (like NSA on Merkel) which courtesy on Snowden came to light after Abbott came to power. He and Bishop worked through that with the Indonesians and ended up with a far stronger, closer relationship between the two countries.
I happen to agree with a number of your criticisms about sanctions on Russia and position taken on MH17. But there is zero evidence they would be different under a Labor government, and the current Labor opposition has not opposed those positions.
So far as being an "NWO globalist", he has of course abolished the Carbon tax imposed by Gillard and Rudd, thus rolling back one of the things beloved of the UN and the NWO globalists.
Suggest you stop imbibing the BS put out by the feral greens and the congenitally corrupt, union-based, Labor party.
Abbott is real dumb cunt and US cock sucker extrordinaire... and it doesn't get any better... the rest of his govt have a combined IQ of about 10.
If the problems were incompetence and corruption, I could handle it. But this government are downright evil. The crossed the Rubicon in turning a western nation into a fascist nightmare.
Which puts them 10 points ahead of their predecessors.
The cracks are really starting to show in Australia and the sheep dont seem to notice at all.
The statism here is so true, so comprehensive and so uniform that until confronted with stark reality there wont be a peep from the people.
As miserable as it will be i am really looking forward to the decline of the west, even if i suffer amongst it, its well due.
Finally a ZH subject I feel qualified to comment on! I live in Sydney and I have done so since 1996 when I moved here from another state. Born and (partially bred) in Oz.
Australia, the nanny state/ police state, government/ authority worshipping, massively over priced shit hole of the South Pacific. Where the average ignorant idiot who has never been overseas in their life, thinks we are some kind of major player on the world stage- up there with the US, China, Russia, Europe etc. It is sickening. Positively nauseating.
Laws upon laws upon laws. Regulation after regulation. You need government permission to do absolutely ANYTHING in this shit hole. Police and politicians are worshipped as 'heroes' and 'leaders'. The place is saturated in speed and red light cameras and the fines are enormous. Infrastructure looks like something from the 1950's- I've seen much better roads and public transport in so called third world countries. All the average idiot in this country thinks about is Rugby League and reality television. I'm serious. The cost of living is ASTRONOMICAL and people are drowning in debt but lap up the "We are such a rich, prosperous, lucky country...." line of propaganda from their beloved "leaders" and their propaganda spewing mouth pieces in the media.
No one here believes the ballooning national debt is a problem because "There are other countries with larger debts, we have a AAA credit rating and house prices only ever go up so we are all wealthy...." I am deadly serious. That is all you hear in Australia from the deluded socialism loving masses here. I honestly believe that Australians have got to be some of the most ignorant, economically illiterate people on earth.
People laugh at America as Obama wrecks it and flushes it down the toilet but at least in the US, there are actually still people that believe in freedom, the constitution and free markets etc. I would hazard a guess that 9/10 freedom hating Australians have never even heard the world libertarian. Australians actually BOAST about the amount of regulation we have here as if it's a good thing. I hear them calling up talk back radio and COMPLAINING that laws are not being passed fast enough to appease their rabid worship of authority.
The place is a JOKE and it is crumbling around us but because our government Gods keep telling us how great things are, we plod along paying a small fortune for basic necessities and drool at the thought of the next Rugby League game.
Don't believe any of the shit you hear about how well Australia is doing. It is lies, propaganda, spin and complete bullshit.
Ditto...
Driving home from my nightshift yesterday morning, I actually heard Alan Jones on 2GB talk back radio say that "Tony Abbott is now the leader of the West..." and that "Barack Obama was copying what Tony Abbott had to say about the threat of ISIS in the Middle East because it was so wise and thoughtful". You want to gain a sense of Australias inflated opinion of itself on the world stage? There you go.
While Tony Abbott and his fake "conservative" government are a joke and an embarrassment, the worst part of it all is that they are actually an improvement on the previous mob of communist idiots they replaced! Most likely Abbott and co. will only last one term and the mass of fools will vote Bill Shorten and Labor back in and we will finish our transition to a Greece style economy.