Let’s Play Some More Numberwang!
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- Опубліковано 12 чер 2024
- The seasonally adjusted unemployment rate fell by 0.1 percentage point to 4.0 per cent in May, according to data released today by the Australian Bureau of Statistics (ABS).
With employment rising by around 40,000 people and the number of unemployed falling by 9,000 people, the unemployment rate fell to 4.0 per cent.
In April we saw more unemployed people than usual waiting to start work. Some of the fall in unemployment and rise in employment in May reflects these people starting or returning to their jobs.
While the total number of unemployed people fell by 9,000 in May, this followed a 33,000 increase in April. Unemployment was around 24,000 people more than in March, an average increase of around 12,000 people each month.
“There are now almost 600,000 unemployed people, however, that is still nearly 110,000 fewer people than in March 2020, just before the pandemic.
As a result of the increase in employment and the fall in unemployment, the seasonally adjusted employment-to-population ratio remained at 64.1 per cent and the participation rate remained at 66.8 per cent.
The latest net overseas migration figures showed that Australia’s NOM was 178,500 in Q3 and 129,400 in Q4, totalling 307,900 for the half. This leaves only 87,100 worth of NOM over the first half of this year to meet the federal budget’s 395,000 NOM target for 2023-24.
Given that net permanent and long-term arrivals have remained hot so far in 2024, NOM is once again going to blow way past the budget’s forecast.
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Thanks Martin. I hear people saying that the economy is booming because there's an increased number of people out and about. Yes, that's right. Increased activity is a result of higher for longer inflation. Probably half the retirees have come out of the bingo halls or the bowls club to start working again to fund rising costs of living.
So they should. Previous generations aren't getting out of this sitting on their arses.
Old people didn't rein in their government from spending and not serving the citizens first.
I hope you all are unable to have a nice retirement from the mess you let happen for future generations.
The boss was interviewing a bloke yesterday...he was probably 75 and will probably get hired.
The failing system will soon implode!
A radical solution is a couple of rate rises, if necessary three❗ That should drop the real inflation rate to acceptable levels
Hmm statistics and numberwangs aside, what is a 'job'? How is it measured? How long does it last? How is it funded? How useful and meaningful is it?
While working one hour a week counts as being "employed" the numbers will never portray what is really going on. It's pointless advertising how many jobs were "created" in a time period, when the number of jobs lost, during that time, is never mentioned.
Castor oil for that raspy throat Marty!
Keep playing in their system until you lose everything and just sit there and watch seperated from other people as you all get picked off one by one.
You talk like youre all together but its really every man for themselves.
That describes pretty much average aussie. Everyone out for themselves as long as property prices are still growing (on paper that is).
When in doubt there's always welfare to bail you out.
With current inflation rate. Weekly welfare will barely pay for a loaf of bread.
Given birthrates are collapsing everywhere in the world, Net overseas migration should not be cut back. We should grab the skilled cream of the crop from the world on our terms while we are still a relatively attractive migration destination. In a few decades there will be an acute lack of young able bodied people to do the work that keeps this economy going.
Yep that will keep my wage low compared with house prices.
@@ashleypicot8412 Problem would be solved if they shifted migration to bringing in massive amounts of tradies and builder migrants. Maybe then houses would be more affordable to build and keep house prices affordable for you without it having to be a zero sum game.