Average Wages May 2009
Aug 13th 2009, 11:58 pm
#31
Forum Regular
Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: Average Wages May 2009
Exactly, this 'turnaround' is all based on confidence, nothing else. Nothing has changed since the Financial Crisis, only cash thrown at it, the fundamentals are still the same, people taking on more debt, Govt racking up the debt, nothing substantial has changed, the system is still flawed, nothing has changed. Let's see how long this 'confidence' lasts, I'll give it six months - max.
Aug 14th 2009, 12:20 am
#32
Account Closed
Joined: Jul 2006
Posts: 14,188
Re: Average Wages May 2009
This is where I showed that the "Unemployed - looking for full-time work" had risen from 301,775 in July 2008 to 457,318 in July 2009, an increase of about 156,000.
Not exactly rainbows and lollipops either, but at least dropping from the previous months 500,000. Hopefully going back in the right direction, with the increase in business confidence.
Not exactly rainbows and lollipops either, but at least dropping from the previous months 500,000. Hopefully going back in the right direction, with the increase in business confidence.
http://www.illawarramercury.com.au/n...h/1595528.aspx
Aug 14th 2009, 12:28 am
#33
Guest
Posts: n/a
Re: Average Wages May 2009
Exactly, this 'turnaround' is all based on confidence, nothing else. Nothing has changed since the Financial Crisis, only cash thrown at it, the fundamentals are still the same, people taking on more debt, Govt racking up the debt, nothing substantial has changed, the system is still flawed, nothing has changed. Let's see how long this 'confidence' lasts, I'll give it six months - max.
That lack of confidence caused many employers to trim back, just in case, which then spirals down..
This new confidence level may reverse some of the damage, and spiral back up ?
What is better, give up and go down hill, or have confidence and maybe others will have the same, and things may get better.
We can't say that confidence has nothing to do with anything. They even have a "Consumer Confidence Index" to track it.
Have a read of this old story........
The Recession Story
This Story is about a man who once upon a time was selling Hotdogs by the roadside.
He was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.
His sales and profit went up..
He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers.
He started offering home deliveries. Eventually he got himself a bigger and better stove.
As his business was growing, the son, who had recently graduated from College, joined his father.
Then something strange happened.
The son asked, “Dad, aren’t you aware of the great recession that is coming our way?”
The father replied, “No, but tell me about it.” The son said, “The international situation is terrible.
The domestic situation is even worse. We should be prepared for the coming bad times.”
The man thought that since his son had been to college, read the papers, listened to the radio and watched TV.
He ought to know and his advice should not be taken lightly.
So the next day onwards, the father cut down his raw material order and buns, took down the colourful signboard,
removed all the special schemes he was offering to the customers and was no longer as enthusiastic.
He reduced his staff strength by giving layoffs.
Very soon, fewer and fewer people bothered to stop at his hotdog stand.
And his sales started coming down rapidly, same is the profit.
The father said to his son, “Son, you were right”.
“We are in the middle of a recession and crisis. I am glad you warned me ahead of time.”
Moral of The Story:
It’s all in your MIND! And we actually FUEL this recession much more than we think we do!!!!!
He was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.
His sales and profit went up..
He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers.
He started offering home deliveries. Eventually he got himself a bigger and better stove.
As his business was growing, the son, who had recently graduated from College, joined his father.
Then something strange happened.
The son asked, “Dad, aren’t you aware of the great recession that is coming our way?”
The father replied, “No, but tell me about it.” The son said, “The international situation is terrible.
The domestic situation is even worse. We should be prepared for the coming bad times.”
The man thought that since his son had been to college, read the papers, listened to the radio and watched TV.
He ought to know and his advice should not be taken lightly.
So the next day onwards, the father cut down his raw material order and buns, took down the colourful signboard,
removed all the special schemes he was offering to the customers and was no longer as enthusiastic.
He reduced his staff strength by giving layoffs.
Very soon, fewer and fewer people bothered to stop at his hotdog stand.
And his sales started coming down rapidly, same is the profit.
The father said to his son, “Son, you were right”.
“We are in the middle of a recession and crisis. I am glad you warned me ahead of time.”
Moral of The Story:
It’s all in your MIND! And we actually FUEL this recession much more than we think we do!!!!!
Aug 14th 2009, 12:35 am
#34
Guest
Posts: n/a
Re: Average Wages May 2009
That fall in "Unemployed - looking for full-time work" can perhaps be explained by this article more than any sudden improvement in the economy.
http://www.illawarramercury.com.au/n...h/1595528.aspx
http://www.illawarramercury.com.au/n...h/1595528.aspx
The Labour Force Survey is based on a multi-stage area sample of private dwellings (currently about 22,800 houses, flats, etc.) and a list sample of non-private dwellings (hotels, motels, etc.), and covers about 0.24% of the population of Australia. Information is obtained from the occupants of selected dwellings by specially trained interviewers.
But everyone uses these figures, and not many complain when they show bad figures, but when they begin to show good figures, the accuracy gets questioned
Aug 14th 2009, 12:43 am
#35
Guest
Posts: n/a
Re: Average Wages May 2009
That fall in "Unemployed - looking for full-time work" can perhaps be explained by this article more than any sudden improvement in the economy.
http://www.illawarramercury.com.au/n...h/1595528.aspx
http://www.illawarramercury.com.au/n...h/1595528.aspx
Illawarra due for sluggish rise in population
Wollongong's population will increase by a paltry 61,000 over the next 30 years as migration levels decline, with the bulk of the region's growth coming from births.
http://www.illawarramercury.com.au/n...n/1338482.aspx
Illawarra's population to skyrockethttp://www.illawarramercury.com.au/n...n/1338482.aspx
The Illawarra could face a housing crisis within five years unless thousands of new homes are built to keep up with population growth.
The report, titled Australia On The Move, forecasts the population of the Wollongong statistical district will grow by 12 per cent to 317,822 by 2027.
http://www.illawarramercury.com.au/n...t/1557641.aspx
The report, titled Australia On The Move, forecasts the population of the Wollongong statistical district will grow by 12 per cent to 317,822 by 2027.
http://www.illawarramercury.com.au/n...t/1557641.aspx
Aug 14th 2009, 12:49 am
#36
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: Average Wages May 2009
Exactly, this 'turnaround' is all based on confidence, nothing else. Nothing has changed since the Financial Crisis, only cash thrown at it, the fundamentals are still the same, people taking on more debt, Govt racking up the debt, nothing substantial has changed, the system is still flawed, nothing has changed. Let's see how long this 'confidence' lasts, I'll give it six months - max.
We have an excellent banking system, well managed monetary policy and relatively sound public finances. The same cannot be said of the U.S. or the UK which were at the centre of the financial meltdown. So long as China keeps sucking in our exports and consumer and business confidence is restored, the Australian economy will do very well.
The impressive ease with which Australian companies have swapped debt for equity through capital raisings in the last few months proves how sound the economy's fundamentals are viewed by domestic and foreign investors.
