unemployment

Aussies unemployment rate soars, and boy are they jealous of NZ

The Aussie unemployment rate has soared and make a mockery of the attempts of the opposition here to paint New Zealand’s economy as a dog.

Unemployment has jumped to the highest level in more than 10 years, following a surprise fall in jobs growth.

The jobless rate rose to a seasonally adjusted 6.4 per cent from 6 per cent in June, its highest point since August 2002.

The economy lost 300 jobs in July: While 14,500 full-time positions were added, 14,800 part-time jobs disappeared.

The participation rate edged 0.1 per cent higher to 64.8 per cent, which does not explain the jump in the headline unemployment rate.

The Australian dollar plunged more than half a cent from around 93.55 US cents down to 92.96 US cents.

It is the first time since 2007 than Australia’s unemployment rate has been higher than the US, which sits at 6.2 per cent.

“There‚Äôs no question, this tells us the labour market is weak,” HSBC chief economist Paul Bloxham said.

Read more »

Oh dear. This won’t go down well in the War Room

The Household Labour Force Survey results are out:

werwe

More people are working and unemployment has fallen to 5.6 percent according to the latest figures from Statistics New Zealand. Read more »

Looks like Labour’s forestry crisis is over

cunliffe-wood

David Cunliffe averts another crisis, this time in Forestry

There will be other industries, like manufacturing and now forestry, that will be hoping that Labour declares a crisis in their industry. Because every time they do so things improve dramatically.

David Cunliffe and the former weatherman Tamati Coffey have been talking down forestry for a couple of months, saying it is in crisis and they are the ones who can fix it.

Seems like the industry is fixing itself without the need for interference from photo op seeking politicians.

Employment is on the rise in the region as one of Rotorua’s biggest industries enjoys what could be its best period in 20 years.

Rotorua’s booming forestry industry is experiencing its strongest growth since 1994, which is helping fuel a jump in regional employment, a local forestry leader says.

Bay of Plenty joblessness is down as national employment hits its highest rate since before the global financial crisis. Read more »

Now, don’t laugh, but I think I found a decent trained and skilled one at the Herald

Statistics-New-Zealand_2

Following up from my piece about the need to be be widely read to decipher what the “Truth” really is, I stumbled – incredulously – across this piece:

Brian Fallow at the Herald writes about the Household labour force survey and doesn’t just pick the side that makes one political party look good. ¬† We get both sides

Employment grew strongly in the first three months of the year but so did the supply of workers, leaving unemployment unchanged and wage pressures subdued.

Statistics New Zealand’s household labour force survey recorded a rise of 22,000 or 0.9 per cent in the number of people employed in the March quarter, but that was matched by a 22,000 increase in the labour force, leaving the unemployment level unchanged at 147,000 and the unemployment rate steady at 6 per cent.

Over the year ended March the working age population increased by 50,000, boosted by a strong net inflow of migrants.

But the labour force grew by 82,000 over the same period as the participation rate (the employed and those looking for work, as a share of the working age population) climbed to 69.3 per cent – a record high and up from 67.9 per cent a year ago.

So.

More jobs to go around at the same time as more people joined looking for work.

No discernible spin.

As rare as it is amazing.

 

Welfare reforms in UK encouraging entrepreurial spirit

Good news out of the UK as welfare reforms appear to be working well.

Benefit cuts are pushing more people into self-employment and helping to create a new generation of entrepreneurs, the Bank of England has suggested

The Bank announced that one of the most ‚Äústriking‚ÄĚ features of the economic recovery has been the record 4.5‚ÄČmillion Britons who are now self-employed.

According to official figures, the number of self-employed workers has risen by more than 600,000 since 2010, accounting for more than a third of the 1.5 million new jobs created since then.

The Bank said the trend was partly down to government welfare reforms, such as the ¬£26,000 benefits cap, pushing people back into work. Iain Duncan Smith, the Work and Pensions Secretary, claimed that the figures were evidence that the Coalition was reviving Britain‚Äôs ‚Äúentrepreneurial spirit‚ÄĚ.

He told The Telegraph: ‚ÄúEvery one of our welfare reforms has been about getting Britain working, so it‚Äôs encouraging to see the Bank of England explicitly linking our reforms with the strength of the UK labour market. ¬†¬† Read more »

More good news, it keeps on coming

Two more pieces of good news have come in this morning.

Ports of Auckland have reported a record month for March:

Container numbers continue their relentless growth, with a new record high at Ports of Auckland in March.  The port handled 54,427 containers (79,492 TEU), 10,305 (16,771 TEU) more than the same month in 2013.  This breaks the previous record of 54,049 set last October.

Ports of Auckland Chief Executive Tony Gibson said that ‚Äúbreaking the monthly record in March is unusual; normally the pre-Christmas period is the busiest.¬† Solid import volumes plus a lift in exports gave March a real boost.‚Ä̬† Bulk, break-bulk and car volumes are also up.

When good are flowing across the ports then you know the economy is booming.

Then Anne Gibson reports that Auckland’s jobless are at a 6 year low:

Auckland’s unemployment rate has dropped to its lowest level in six years, buoyed by economic growth and the associated demand for workers to the point where 48,000 new jobs were created in the city last year.¬† Read more »

More lies of the left exposed

Lindsay Mitchell exposes the lies of the left over unemployment.

In February the Daily Blog screamed the headline,

EXCLUSIVE: Billions of dollars stolen from the unemployed

which claimed a hundred thousand plus people were being denied an unemployment benefit.

The number of those on average receiving a benefit compared to the number of unemployed in the household survey is now about 130,000 fewer than it was in the late 1990s.

The missing 130,000 are the reason why so many social agencies are being inundated for help for food, clothing, shelter despite the so-called recovery in the economy over the last year…
tax cuts for the rich have been paid for by denying entitlements to the poorest and most vulnerable is theft from working people of about a billion dollars a year. It is time to get angry.

The tax cuts for the rich have been paid for by denying entitlements to the poorest and most vulnerable is theft from working people of about a billion dollars a year. It is time to get angry.

Then Labour’s Chief of Staff, Matt McCarten, still¬†writing¬†for the Herald on Sunday, picked up the accusation:¬† Read more »

Slight problem with Labour’s plan to tip the dregs into Forestry

Labour and the unions have made much of the death rate in forestry. At the same time unions resist compulsory random drug testing of forestry workers.

If those two contrasting positions regarding health and safety aren;t bad enough, Labour now wants to tip the indigent and lazy into forestry.

Labour is set to announce a plan to get long term unemployed working in forestry when Leader David Cunliffe speaks to an industry conference in Wellington this morning.

Mr Cunliffe will set out Labour’s economic plan for the forestry and wood products sector at the Forestwood Conference at Te Papa.

“We have a comprehensive policy package for the development for the forest, processing and timber industry”, Mr Cunliffe said last night.

“This package will be an example at a sector level of the economic upgrade that we outlined on Friday last week.”

Mr Cunliffe said forestry was an obvious area to start with. ¬†¬† Read more »

Cunliffe’s Taranaki claims last year put to shame by facts

Just a few months ago Labour was claiming the provinces were neglected. David Cunliffe even made some specific claims about Taranaki.

Taranakians are leaving the province in droves because they’re being forgotten by the National Government, Labour leader David Cunliffe says.

Mr Cunliffe said Census data released today would show a widespread exodus from the regions as provincial New Zealanders flee forgotten small towns.

He said these towns had been gutted by the hands off approach of the National Government.

“Job losses, factory closures, government cutbacks and the shutting of branch offices have left people in the regions with no choice but to leave in droves.

“Manufacturing is stagnating, economic development has been limited to glossy brochures and a few roads, mortgage restrictions are being unfairly applied to the provinces and tax biases are driving money from the regions into the Auckland property market.”

Except it turns out the opposite is true.¬† Read more »

Guest post: Are thousands of people being denied benefits?

by Lindsay Mitchell

The Daily Blog recently ran the graph below along with the headline, “Billions of dollars stolen from the unemployed”. Mike Treen wrote,

The combined efforts of both National and Labour governments’ punitive policies towards the unemployed seems to have removed over 100,000 people from rightful access to an unemployment benefit.

Source/ The Daily Blog

Source/ The Daily Blog

In today’s Herald Brian Gaynor has been exploring statistics, their variability and utility. He produced the following graph which tracks the quarterly difference between those officially unemployed (using the same Household Labour Force Survey data Treen used) and the new Jobseeker Benefit (projected back to 2008 by MSD):¬† Read more »