La Vida loca

not yet... but its coming...

fish.01

isn't it always ?

La Vida loca

Yes... but who is prepared.

fish.01

Gen Y...they're ready to buy all the houses and say told you so

nandnor

Look at the latest jobs numbers. Released in July. Perth's unemployment LOWER THAN EVER and participation rate HIGHEST, the economy has never been as good in the area, there's tons of work to do and relatively easy to get a job, no doubt about it. Sydney unemployment is also down a few tenths of percentage. Melbourne&Brisbane are however up a bit.

Loch Lomond

You need to post links to these claims (even though they were 2 months ago), as the daily papers reported Australian unemployment down overall, however West Australian unemployment was up.

Zen10

Don't get too excited about this. Look 18 months down the track and you'll see a lot of problems, due to collapse in iron ore price mainly.

nandnor

Fresh numbers by each state are here http://www.abs.gov.au/AUSSTATS/[email protected]?OpenDocument And certainly dont seem to indicate any economic troubles to me

Zen10

Once again, the collapse in demand for iron has caused the (massive) bubble in iron ore prices to pop, sending the price from $187 to $90. It will continue to fall and to give you an idea of its final destination, in 2007 it was $34. Swiss investor Marc Faber has described iron as the fourth "mega bubble" in the past 40 years, along with gold in the 1970s, the Nikkei in the 1980s, and the Nasdaq in the 1990s.

This drop will feed into the mining industry over the next year or so, and then those on the high street will finally work out that the mining boom is over.

Loch Lomond

I'll bow to your economic knowledge here, and ask you to summarise the data to show that Australia (including Western Australia) has reduced unemployment to date.
This is a dare, and I bet you can't

commonwealth

so finally the mining industry that doesn't employ too many people will soon help the AUD go back below parity and make life easier for the other sectors of the economy? i assume the AUD will go down as well, back to US$0.70?

Pit Bull.

A collapse in the mining industry as been muted for a very long time now, just what impact it will have on the whole Australian economy if it does happen is anyone's guess, Australia's economy has been booming for years, it has to have a set back eventually, or maybe not, trying to predict this is impossible and chances are we will be discussing this possibility next year and the year after.

Zen10

When iron falls from 190 to 90, it's not "if" but "when". I wonder if it will go back to 30 like before the bubble in 2007.

Beaverstate

More or less like the housing collapse in the US. Florida, Arizona saw it first, others denied the issue. Then most other states followed leaving a few naysayers. Finally i 2008 just a couple states hadn't been hit. Notably Oregon and Washington. To the end realators argued that we were different. Yes local prices have dropped 35 to 40 percent since "that won't happen to us"

Pit Bull.

The thing is, people look at what might happen and it rarely does, the lovely Edwina Curry said on the tomorrow's paper show on sky news a few months back that, if Greece will leave the Euro like was predicted, Spain and Italy will then need hundreds of Billions of euros bailouts and the Euro will collapse, this would cause contagion throughout the worlds countries economies and people's pensions will be wiped out and recession and mass unemployment will follow in most countries for years to come. People say things that get a sound bite reaction and the only problem with predictions is thats all they are, I like to see what happens, listening to doom and gloom predictions that might never happen is focussing on the negative and I am a positive person, so fingers crossed that any impact from the mining downturn will have only a minimal effect on the Australian economy.