Recession
 

Is Australia in Recession?

I read an article of international economic website saying recession at the doorstep of australia.

Re: Recession
 

No not yet but almost. A gauge of the population working or looking for work here, in fact sunk to 65.2 per cent, its lowest level in almost two years. But this has happened before and Aus always bounces back.

Re: Recession
 

No. Not at all. This seems to give a balanced summary of the situation: http://www.businessspectator.com.au/...rc=sph&src=rot

Re: Recession
 

Depends who you listen to, some say it never avoided it although technically it did. I think most countries are just a couple of bad quarters away from 'recession'. Given the fragility of most sectors of the economy it is a definite possibility.

Re: Recession
 

No. Many on here are wishing it to be (see above) but it's not.

Re: Recession
 

some states are... but some states are not..

Resources are propping up the balance in the non recession column

Re: Recession
 

Yes, those are the facts, like it or not.

Re: Recession
 

Interesting question.

The government doing another round of cash handouts would indicate its worried, and the last time they did that it was stated it was to avoid recession so is it the same reason again??

Sooo many job losses, and so many big companies going bust.

The unemployment rate is nonsense despite how healthy it sounds:sneaky: Working for 2 hours a week is employed:sneaky:.

My teen works in retail, one of the biggest stores, no real competition for this business. Yet most they employ are on 3 - 6 shifts a month as figures are down. This has gone on for months now, many there with families claim they are getting charity food stamps to survive. Thousands of public service jobs are to go, even Melbourne seems to be announcing loads of job losses.

Housing and construction have tanked. I dont actually think they can get much worse:eek:, hence the rate cuts, another measure perhaps to avoid recession.

Dollar seems to be a dump not hold factor.

I dont know if we are going to have a recession, I hope not, but there is some pretty grim news out there.

Re: Recession
 

According to this recent article, just 60 minutes employment in the particular week of the month which is counted is the requirement to be considered employed.

Re: Recession
 

The unemployment rate in Australia, the UK and other countries is measured using systems defined by the International Labour Organization (ILO). This prevents anyone with an opinion (assholes etc) having this opinion taken as valid. Therefore the unemployment rates stated by the governments of the UK, Australia etc are the ones to use.

Re: Recession
 

I reckon Melbourne is in a state of flux at present, as the central parts seem to be switching over to a more SE Asian type of feel. Business is changing from the old school to the new SE Asian base. Two out of Three new shops or business that opens seems to be run by Chinese or other SE asians... with plenty of Indians in tow as well.

So I'm not so sure whats happening with Melbourne is recession more transistion. Not many shops closed. I've seen plenty of times when there have been more empty shops along Sydney rd than now. In fact I cant think of any empty shops at present.

Could be that Aus is starting to switch economies.

The big downside is some of the old tradtitional non pokie pubs.... Like the Iconic East Brunswick hotel, are shutting down to make way for apartments for these SE Asians.

Re: Recession
 

total bull
only had 3 days out of work in 5 years as a self employed carpenter
technical Recession is totally different to what I call a Recession

like the one I remember in the 80s in north wales

people on BE seem to want to talk themselves into Recession

Re: Recession
 

there are certain posters on BE that would be delighted if Australia was in recession.

Re: Recession
 

You may be right, equally some seem very happy to see the UK in the same situation.

Re: Recession
 

There's none so blind as those that don't want to see