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Australian Housing

Roy Morgan unemployment hits 12.3% – highest in 20 years

Roy Morgan unemployment figures released yesterday show an estimated 1.561 million Australians are now unemployed. This represents 12.3 per cent of the workforce and is now the highest figure since February 1994, some 20 years ago. An additional 1.08 million Australians are classified as underemployed, working part time while looking

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Australian Economy

PM appeals in vain to the shafted generation

Generation Y, Kev wants you on board. During Kevin Rudd’s comeback leadership victory speech he had a message for our young generation: Before I conclude, let me say a word or two to young Australians. It’s clear that many of you, in fact too many of you have looked at

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Australian Economy

Unemployment on the up; Retail trade down.

A private survey on unemployment from Roy Morgan estimates 10.9 per cent of the Australian workforce was unemployed in January 2013, up 1.3% over the past month and now sitting at the highest rate since January 2002. In other news, Retail trade figures released by the RBA show Christmas trading

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Australian Economy

The holiday is over: Official unemployment rises

As expected, the official unemployment figures released by the Australian Bureau of Statistics (ABS) today showed a sharp rise in unemployment. According to the ABS, unemployment now sits at 5.4 per cent – a two and a half year high. The key driver to the increase in the unemployment rate

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Australian Economy

Unemployment hits 10%

One of the take home messages from yesterday’s 25 basis point drop is the Reserve Bank’s worry unemployment is starting to rise. On Monday, Roy Morgan research released the results of its latest unemployment and under-employed survey, showing unemployment in Australia is now at 10 per cent, and quite a

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Australian Economy

Retailers shed jobs

Property experts make the argument that house prices can’t fall in Australia as we have very low unemployment. But it begs the question if a fall in house prices leads or lags a fall in employment? The Unconventional Economist set out to answer this question last month and found that

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Australian Economy

Debt Bubble Cripples Retail Spending

In a report released by Access Economics today, it expects retail sales to grow by only 1.3 percent this financial year, sounding the worst period for retail spending in two decades. But, on a positive note, it expects a rebound next year. David Rumbensm, a partner with Deloitte Access Economics

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Australian Economy

Time to pick and choose: Housing or Jobs

You could be mistaken for thinking we didn’t each have a part to play in the Global Financial Crisis. It wasn’t that long ago Kevin Rudd was saying “As Prime Minister I will not sit idly by and watch Australian households suffer the worst effects of a global crisis we