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Amid Commodity Collapse, World's Most Resource-Driven Economy Posts Greatest Jobs Gain In 15 Years

Tyler Durden's picture




 

When Australia released its October jobs data a month ago (printing an astonishing 58k increase - almost 6 times expectations of a 10k increase), the media threw up all over the farce of the best jobs gain in 3 years (amid commodity price collapses, mining industry bankruptcy fears, and China trade implosions) saying simply "don't believe the jobs figure for October." So we cannot wait to see what the men from downunder make of November's print. With expectations of a 10k drop, Australia added a mind-numbing 71,400 jobs - the most in 15 years!! This is equivalent to the US adding almost 1.75 million jobs in 2 months... They just don't care anymore!

Best Jobs print in 15 months...

 

November was an 8 standard deviation beat... which followed a 6 standard deviation beat in October...

The big surge in jobs last month, which was the largest gain since July 2000, raised renewed skepticism about the accuracy of the data, which the Australian Bureau of Statistics has acknowledged in the past.

This is the biggest 2-month increase in jobs since January 1988...

 

Does this look like companies that are hiring at the fastest pace in 27 years!!!

“It’s hard to believe that employment has grown 130,000 over two months in the context of everything else,” said Michael Turner, fixed-income and currency strategist at Royal Bank of Canada in Sydney. “But there’s got to be some signal in this, not just noise.”

No - there really doesn't. It seems Australia has figured out how to create jobs when its biggest trading partner is hemorrhaging them...

 

And it appears the hiring has been going on "stealthily" as businesses are not reporting any improvment at all...

 

The economic propaganda was slammed last month:

The ABS is itself cautions against placing too much credence on the monthly figures, which are based on a changing sample, particularly the seasonally adjusted data. The statistician encourages people to focus on the trend estimate (which had the unemployment rate unchanged). 

 

And, after a series of stuff ups, revisions and methodological changes over the past year, there is even more room for caution.

 

Last year, the ABS was forced to abandon seasonally adjusted labour force numbers for a period after conceding they were unreliable. The former chief statistician recently said the data was not worth the paper it was written on.

Wait, what: confidence boosting data is unreliable? Surely you jest.

And here is the ABC's conclusion confirming at least one "developed" country still have a thinking media: "don't be surprised if the October labour market data is revised."

Nope, no revision - just an even more ridiculous "injection" of confidence.

* * *

If only we could say the same about propaganda rags in the United States

 

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Wed, 12/09/2015 - 21:22 | 6902165 quintago
quintago's picture

They are double counting the side jobs people are taking selling crack and/or their crack.

Wed, 12/09/2015 - 21:27 | 6902187 localsavage
localsavage's picture

More likely, they are claiming the 20 somethings that have had to become "sugar babies" as a form of employment.

Wed, 12/09/2015 - 21:28 | 6902196 philipat
philipat's picture

Just look at the actual numbers and ignore the seasonal adjustments, then look at a Moving Annual Total (MAT). Seasonal adjustments (And double seasonal adjustments) have become a complete sham used as a "Fiddle factor by ALL Governments. And correct, they just don't care any longer...this the the end-game...

Wed, 12/09/2015 - 21:31 | 6902215 847328_3527
847328_3527's picture
Prestige Perth house prices plunge by up to 30 per cent

 

http://www.perthnow.com.au/realestate/news/perth-wa/prestige-perth-house...

 

Perth property market expected to go backwards in 2016, says national report

 

http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-marke...

 

The gubmint never lets fact(s) get in the way of their propaganda.

Wed, 12/09/2015 - 21:33 | 6902223 McCormick No. 9
McCormick No. 9's picture

Ark! Wie farking Aussies don' farkin' wark! Ainly farkin wankahs wark! Meen me maytes ayre jus' troilin' fer skreech, n' gettin' farked arp eh?

Wed, 12/09/2015 - 22:14 | 6902372 ForTheWorld
ForTheWorld's picture

Oi mate... Fuck off...

Thu, 12/10/2015 - 00:48 | 6902937 o r c k
o r c k's picture

And they count people working on their tan.

Thu, 12/10/2015 - 01:32 | 6903022 August
August's picture

Actually, a fine young Australian academic has established that is much more beneficial to the environment for young people to go on the dole and hang out at the beach, than it is to take up employment in a deeply flawed economic system.

From what I hear Aussies are flocking to the new, evironmentally friendly, unemployed lifestyle.

Wed, 12/09/2015 - 21:24 | 6902174 Yen Cross
Yen Cross's picture

 lol--- Now I can short this pig(aud/usd) again later.

Wed, 12/09/2015 - 23:02 | 6902547 kiwigal
kiwigal's picture

Dangerous bet. The New Zealand central bank cut interest rates and the NZ dollar rose against the U.S.

Wed, 12/09/2015 - 23:32 | 6902680 Rock On Roger
Rock On Roger's picture

 

 

gudonya

Wed, 12/09/2015 - 21:25 | 6902178 SHEEPFUKKER
SHEEPFUKKER's picture

71,000 open pit mine fillers. 

Wed, 12/09/2015 - 21:25 | 6902179 Dragon HAwk
Dragon HAwk's picture

Got it.. so if you are so broke you are selling your watch on the street corner ... that counts as a Job in Sales ?

Wed, 12/09/2015 - 21:26 | 6902185 lasvegaspersona
lasvegaspersona's picture

Aussie now working 4 part time jobs instead of 2...that's all...oh...and.. it is all lies...that too..

Wed, 12/09/2015 - 21:28 | 6902188 ThroxxOfVron
ThroxxOfVron's picture

Counting hand jobs as full time instead of part time now?

Wed, 12/09/2015 - 21:32 | 6902219 847328_3527
847328_3527's picture

They're counting the Kangaroos now!

Wed, 12/09/2015 - 21:27 | 6902190 Illuminatig
Illuminatig's picture

When numbers on a screen, controlled by a central authority, are all that stands between the elites and the collapse of their power, these numbers will be manipulated.

Wed, 12/09/2015 - 21:35 | 6902233 BigDuke6
BigDuke6's picture

Just leave us the fuck alone

Wed, 12/09/2015 - 21:35 | 6902235 Aussie Battler
Aussie Battler's picture

Strewth mate! Fair shake of the sauce bottle, surely!

Wed, 12/09/2015 - 21:39 | 6902256 Rock On Roger
Rock On Roger's picture

Don't call me Shirley.

 

Sauce On

Wed, 12/09/2015 - 21:36 | 6902240 FX223
FX223's picture

No no no, it's backwards cuz they are in the southern hemisphere...you can confirm when flushing the toilet!  The water goes counter clockwise.

It's loss of 58k jobs in North English...you're welcome. 

Wed, 12/09/2015 - 21:40 | 6902241 FX223
FX223's picture

Doubled

Wed, 12/09/2015 - 21:39 | 6902258 tarabel
tarabel's picture

 

 

This is merely a temporary hiccup.

Hiring is way up for tow truck drivers, auctioneers, and process servers.

Just be patient.

Wed, 12/09/2015 - 21:42 | 6902269 Omen IV
Omen IV's picture

The lies are positive - the more there are that are easy to see, the marginal lies are given NO benefit of the doubt and the whole tower of babel falls over starting in DC which originated all the funny Metric manipulation the world over

 

Lie More Please !!!

Wed, 12/09/2015 - 21:51 | 6902297 NoWayJose
NoWayJose's picture

The Aussie dollar has been smacked the last year - making Australia an attractive tourist location. I would bet that a lot of these jobs are in the tourism industry. Add in big price increases in 'protein' - drawing workers in the cattle and sheep industries. And of course, Australia probably hired a LOT a 'security guards'!

Wed, 12/09/2015 - 22:24 | 6902382 ForTheWorld
ForTheWorld's picture

Private security companies hire a lot of Muslim security guards (they scrape the bottom of the barrel just to get warm bodies in uniforms), as evidenced by their (guards) disappearance five times a day (yes, seriously). Which I've always found more than a little ironic because corporate entities want security to protect from criminals and terrorists, but instead the whole thing just becomes one massive inside job .There's been a steady increase in Middle Eastern-based gang activity and violent crimes recently.

Not sure about the hiring on cattle and sheep stations though. The reports I've seen don't support that idea at all. More automation, where possible, is a growth area though.

Wed, 12/09/2015 - 22:48 | 6902486 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

This is what lots of people don't get. When the AUD is high, resources (coal, gas, iron ore, gold etc) soar, when it's low, the number 2 export earner kicks in: tourism. And when Chinese zillionaires step off the plane from Beijing, see air they can actually breathe, water they can actually drink, and a place their kids can learn English, their next stop is the realtor's office. They don't call it The Lucky Country for nothing.

Wed, 12/09/2015 - 21:53 | 6902301 Canadian Made
Canadian Made's picture

i'll show you my tits for a smoke, that counts, right?

Wed, 12/09/2015 - 21:54 | 6902304 1033eruth
1033eruth's picture

Global lying is a direct result of global warming!!

Wed, 12/09/2015 - 22:05 | 6902341 Canadian Made
Canadian Made's picture

or is global warming a direct result of global lying?, i always get the two fucked up

Wed, 12/09/2015 - 21:55 | 6902307 phantom blot
phantom blot's picture

aussie aussie aussie oi oi fucking oi.....

Wed, 12/09/2015 - 21:59 | 6902323 Make_Mine_A_Double
Make_Mine_A_Double's picture

Everything is bigger in Oz - even the manipulated 'jobs' figures.

But this is redonkulous - there has to be a tiny shard of plausible deniability - this is just Full On Retard.

Wed, 12/09/2015 - 22:49 | 6902492 GeoffreyT
GeoffreyT's picture

Well, we live in a world where the media knows people are too stupid to call 'bullshit' for stories far more ridiculous than an apparent uptick in employment.

Just yesterday I saw a story that claimed that some airport had 3 jumbo jets - Boeing 747s - that had been landed and abandoned, and the government in question could not work out who owned them. Seriously... like there's no element in a jumbo that carries a trackable identifier - you know, like the (leased) engines, the (leased) airframe, the (leased) fucking TYRES.

For.fuck's.sake.

 

Can you imagine how low your estimation of your audience must be to think that you can push news like that, and not get slammed six ways to Sunday?

When the story was on the TV news, I turned to The Lovely and said "Do you get the feeling that some of these stories are deliberately put out there to see if anybody arcs up? Can you imagine anybody stupid enough not to think that shit through?"

She looked up from her laptop and replied "I wasn't even watching it - I have no idea why you do, either."

Thu, 12/10/2015 - 00:40 | 6902915 surf@jm
surf@jm's picture

Hey, what should really keep you awake at night, is if the government ever discovers virtual reality implants for your brain......

All you could say is.......what a trip........

Wed, 12/09/2015 - 22:55 | 6902518 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

They took away the guns, so now they can say anything they want. You better believe what they tell you!

Wed, 12/09/2015 - 23:16 | 6902618 FedFunnyMoney
FedFunnyMoney's picture

Since prostitution is legal in Australia, they are probably starting to count brothel jobs in to the employment figures.

Thu, 12/10/2015 - 00:37 | 6902912 DaveA
DaveA's picture

Every laid-off miner had to take three low-wage jobs to make ends meet.

Thu, 12/10/2015 - 01:38 | 6903036 PhilofOz
PhilofOz's picture

Pffffttt!!!!!   Lies, damned lies, and statistics.

Thu, 12/10/2015 - 03:13 | 6903148 cheech_wizard
cheech_wizard's picture

Can we get a count on the number of waitress and bartender jobs created down under in the last two months?

Thu, 12/10/2015 - 03:54 | 6903181 Peter Pan
Peter Pan's picture

The explanation is simple. The sample includes a large number of people with multiple personalities and all of whom seem to be finding jobs.

On a more serious note, I can never understand why ALL governments don't release the three monthly aggregates of amounts remitted to the tax authorities as withholding on salaries and wages as well as the gross salaries reported.

Thu, 12/10/2015 - 05:25 | 6903253 reinhardt
Thu, 12/10/2015 - 07:43 | 6903357 risk.averse
risk.averse's picture

The Australian Bureau of Statistics (ABS) is still trying to recover credibility after a junior office there was caught passing market-sensitive data to a trader, Lukas Kamay, who worked for one of the major Australian banks, the NAB. Apparently, this passing on of info ahead of release to the public was going on for some time.

It was alledged that Kamay made around US$5 million in profits from this inside knowledge. The ABS employee was a junior there but still had access to market-sensitive confidential data. He knew Kamay from his university days.

http://www.abc.net.au/news/2014-05-09/two-men-arrested-insider-trading-a...

Makes you wonder doesn't it????????

 

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