Oz Jobless rate in shock fall to 5.3 per cent

old_aussie

G'Day all,

Just a quick post to tell the GOOD news, all the Irish/UK people thinking of doing a working holiday in Australia, come on down.

The job situation is getting better all the time.......

• Jobless rate in shock fall to 5.3 per cent
• 52,700 jobs created in January
• More risk that RBA will hike rates in March

THE Australian economy continues to power along with another shock drop in the unemployment rate.

The seasonally adjusted jobless rate fell by 0.2 percentage points as 52,700 new jobs - mainly part-time - were created in January, the Australian Bureau of Statistics said today.
This is the largest rise in employment since December 2006.
The unexpected drop in the jobless rate will raise the risk of a further official interest rate rise in March, economists said.
The market has been continually surprised by the strength of the Australian jobs market during the past few months with about 61,200 full-time jobs and 91,600 part-time jobs created since September.
The market forecast was for the unemployment rate to increase slightly to 5.6 per cent with an extra 15,000 jobs created in January.
...................................................................................................
Hope you have a goog time in Oz.

PS Dave, I was in St Clair last week and it's not far from the city(Sydney), so an initial stay at the relative's is the best place to relax for a while and get your bearings;)

Gaz

Dave!

Hi mate,

Great news bout the jobs

Good to hear about St Clair, looks like that's the plan at the moment. They're gonna pick me up from the airport and I'll spend a few days with them while I sort myself out.

It's good to have a permanent address to put down so that my laser card, etc, can be sent there !

brendansmith

Id like to hear what Jonjo the Miser has to say about this.
That man is the jam in my jelly donut.

uglyjohn

brendansmith wrote: »

Id like to hear what Jonjo the Miser has to say about this.
That man is the jam in my jelly donut.

strange...i havent seen him post since someone said his roadhouse job that he loves so much wasnt gonna count for his second whv.....intersesting.

Standard Toaster

*subs*

Must....pull....finger.....out...


Cheers Gaz

mandrake04

Yeah its true... There are **** load of jobs in my profession on seek this year compared to before Christmas .... I think most employers have forgotten about the scare-mongering and its business as usual.

TirEoghain

Same with my profession. Just been offered sponsorship for a 4 year visa yesterday. So it's party on this weekend!

Zambia

Congrats.

In light of these figures ...this is gonna hurt the old mortgage next time the bank decides to review interest rates.

mandrake04

TirEoghain wrote: »

Same with my profession. Just been offered sponsorship for a 4 year visa yesterday. So it's party on this weekend!

Nice one!!

We just sponsored a German guy for a 457 last week... its funny because we got shot of 10% of people this time last year.. I think the company used it as an excuse to do a bit of housekeeping... clear out the dead wood.

I expect a lot of employers did the same.

jank

Good news all right for now but given my short time here my once rock solid confidence in the Australian economy has been shaken a little from what I hear from people in work. Although I work in IT the industry that I work in is the financial sector and many of the guys in the office have been around most of the banks HQ's in Sydney working as consultants in software roll out, projects etc.

The stuff they said to me was a little scary. Basically the average Australian is in debt up to their eye balls, couple this with rates rises in the near future will put a lot of pressure on them. The banks really have no idea what their exposures are to this, heck they are still trying to work out their exposure to the lehmanns brothers collapse.

Basically the jist I got is that the banks dont have a clue what they are doing and how much risk is on their books. All it takes is China going sour and OZ is ****ed, just like the rest of the world. The only reason the OZ didnt suffer in the latest recession was because of China. It wasn't because of good leadership in the Australian government or banking sector. So if you want to know how Australia is going to do in the near future look at china and pray that they hit those magic 8% annual growth numbers. See 8% is important, not only is it their lucky number but anything under 8% puts pressure on the whole industrialisation and economic progress of the country. Even 7% growth will not provide enough jobs and growth for china's rural migrants to the urbans centers and factories. A few years of that all of a sudden we get a couple of hundred million pissed off Chinese wondering if the government is really working in their interest. All bets are off if there is political and social unrest in china.

The whole Google vs China thing is a symptom, not of chinas new cockiness but of its insecurities in this new world where they are becoming ever more important on the world stage. They have more to lose now so want to put out a strong message every time. They say all politics is local, well all diplomacy is domestic and this is china to a tea. China is not trying to be a bully boy because it has all of a sudden realised they are important or that they can and get away with it, they want to appear strong and play the nationalism card to appease 1.3 billion citizens. Keeping them happy is a million times more important than upsetting Google, USA, Taiwan, Australia or any one else.

Anyway I would still rather be here than in Ireland but even Australia cannot escape the new realities of the world. Look at china....

nxbyveromdwjpg

uglyjohn wrote: »

strange...i havent seen him post since someone said his roadhouse job that he loves so much wasnt gonna count for his second whv.....intersesting.

Hahaha.. that was the post of the year, i must dig up that thread...

ToasterSparks

What I found interesting about that thread was the fact Jonjo was berating Irish people for sticking together and not experiencing the Oz culture ... while he's posting on an Irish message board community!


On topic: Stop saying bad things about the economy! *hands over ears* Lalalalala! I really want to go to Oz - don't make it sound like a bad idea!