Job Losses
Nov 5th 2008, 1:36 pm
#46
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
http://business.smh.com.au/business/...1106-5iy7.html
It will be interesting to know where those jobs are.
It will be interesting to know where those jobs are.
The economy added an unexpectedly large number of jobs last month - 34,300 in total - but the gain masked the loss of 9,200 full-time positions.
The unemployment rate stayed put at 4.3% because of the whopping 43,500 part-time positions created last month - the most since April 2001.
The unemployment rate stayed put at 4.3% because of the whopping 43,500 part-time positions created last month - the most since April 2001.
Nov 5th 2008, 1:52 pm
#47
Guest
Posts: n/a
Re: Job Losses
http://business.smh.com.au/business/...1106-5iys.html
ABC Child Care gone bust.
ABC Child Care gone bust.
There is a good profit in Child Care centres, IF those profits aren't taken by someone at the top !
Nov 5th 2008, 2:17 pm
#48
Guest
Posts: n/a
Re: Job Losses
http://business.smh.com.au/business/...1106-5iy7.html
The economy added an unexpectedly large number of jobs last month - 34,300 in total - but the gain masked the loss of 9,200 full-time positions.
The unemployment rate stayed put at 4.3% because of the whopping 43,500 part-time positions created last month - the most since April 2001.
The economy added an unexpectedly large number of jobs last month - 34,300 in total - but the gain masked the loss of 9,200 full-time positions.
The unemployment rate stayed put at 4.3% because of the whopping 43,500 part-time positions created last month - the most since April 2001.
Trend Estimates of Employed persons from abs.gov.au
October 2005
4,716,900 Full time employees
809,000 Part Time Employees
5,525,900 Total
October 2006
4,787,000 Full time employees up 1.49% in last 12 months
867,900 Part Time Employees up 7.28% in last 12 months
5,654,900 Total
October 2007
4,939,600 Full time employees up 3.19% in last 12 months
867,800 Part Time Employees Down -0.01% in last 12 months
5,807,400 Total
October 2008
5,038,400 Full time employees up 2.00% in last 12 months
867,500 Part Time Employees Down -0.03% in last 12 months
5,905,900 Total
October 2005
4,716,900 Full time employees
809,000 Part Time Employees
5,525,900 Total
October 2006
4,787,000 Full time employees up 1.49% in last 12 months
867,900 Part Time Employees up 7.28% in last 12 months
5,654,900 Total
October 2007
4,939,600 Full time employees up 3.19% in last 12 months
867,800 Part Time Employees Down -0.01% in last 12 months
5,807,400 Total
October 2008
5,038,400 Full time employees up 2.00% in last 12 months
867,500 Part Time Employees Down -0.03% in last 12 months
5,905,900 Total
Nov 5th 2008, 2:24 pm
#49
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
The banks will look and see if they can get the money quicker by selling the property or the business. Both depend on availability of finance and the risk appetite of potential owners in the current climate.
Nov 5th 2008, 3:01 pm
#51
Guest
Posts: n/a
Re: Job Losses
Top Management took too much out, and expanded too fast into the USA and UK, with massive borrowings to buy existing, and profitable, child care centre companies.
In 2004/05 they made $52.3 million AFTER tax, on revenues of $292.7 million
Profits in 2007 dropped to $37.1 million (before tax), but with new debts of about $1.8 billion, to buy all the USA assets, the floor began to open up on them.
Once the credit crunch began they were stuffed.
But each individual centre almost certainly operates at a profit.
In 2004/05 they made $52.3 million AFTER tax, on revenues of $292.7 million
Profits in 2007 dropped to $37.1 million (before tax), but with new debts of about $1.8 billion, to buy all the USA assets, the floor began to open up on them.
Once the credit crunch began they were stuffed.
But each individual centre almost certainly operates at a profit.
Nov 5th 2008, 3:07 pm
#52
Guest
Posts: n/a
Re: Job Losses
I am sure that employers will also revert back to employing casual and part timers again, as a result of all the changes that have occured in the last 12 months. But then, that was said back in November 2007, and it hasn't actually happened yet, with Full time up 2.00% and Part Time down 0.03% in last 12 months.
Nov 5th 2008, 3:17 pm
#53
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
Top Management took too much out, and expanded too fast into the USA and UK, with massive borrowings to buy existing, and profitable, child care centre companies.
In 2004/05 they made $52.3 million AFTER tax, on revenues of $292.7 million
Profits in 2007 dropped to $37.1 million (before tax), but with new debts of about $1.8 billion, to buy all the USA assets, the floor began to open up on them.
Once the credit crunch began they were stuffed.
But each individual centre almost certainly operates at a profit.
In 2004/05 they made $52.3 million AFTER tax, on revenues of $292.7 million
Profits in 2007 dropped to $37.1 million (before tax), but with new debts of about $1.8 billion, to buy all the USA assets, the floor began to open up on them.
Once the credit crunch began they were stuffed.
But each individual centre almost certainly operates at a profit.
Nov 5th 2008, 3:20 pm
#54
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
Agreed. The unemployment increase forecasts have been in place now for 12 months, and with everything that has happened, it will be bound to occur soon.
I am sure that employers will also revert back to employing casual and part timers again, as a result of all the changes that have occured in the last 12 months. But then, that was said back in November 2007, and it hasn't actually happened yet, with Full time up 2.00% and Part Time down 0.03% in last 12 months.
I am sure that employers will also revert back to employing casual and part timers again, as a result of all the changes that have occured in the last 12 months. But then, that was said back in November 2007, and it hasn't actually happened yet, with Full time up 2.00% and Part Time down 0.03% in last 12 months.
Nov 6th 2008, 7:27 am
#56
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
http://www.smh.com.au/news/national/...561044343.html
NSW is the only state conforming to dire predictions of rising joblessness, with the unemployment rate jumping to 5.2 per cent last month, up 1 percentage point from February. NSW shed 13,300 full-time jobs last month.
Commonwealth Bank economists estimate 18,000 new jobs are required each month to absorb the number of people joining the workforce and stop the unemployment rate rising.
Nov 7th 2008, 8:36 pm
#58
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
http://business.smh.com.au/business/...1107-5k5f.html
Banks normally only push for bankruptcy when they believe cash flow is negative. Terms are renegotiated so that a fire sale is avoided and the banks maximise their return even if they make a loss.
federal Education Minister, Julia Gillard, said as many as 40 per cent of its Australian centres were making a loss.
These centres were draining the company of money and have left a cash hole that needs to be filled by the Federal Government to keep the centres running.
These centres were draining the company of money and have left a cash hole that needs to be filled by the Federal Government to keep the centres running.
Nov 7th 2008, 9:44 pm
#59
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: Job Losses
Consumer confidence is measured and a key indicator on the economy. Some of it is due to people behaving like sheep but that is also part of the reason we get booms. In normal markets consumer confidence is cyclical and follows the other indicators. We are witnessing quite abnormal markets now. No amount of consumer confidence can make up for the amount of finance taken out of the system.
Most kitchens are made of MDF. Enough said. There were guys there that were transferred by the Sydney office, moved their families, sold their Sydney houses, got their kids into school here and now been told they are jobless - and there are no development jobs out there at the moment. The man that fainteds wife is due to have a baby in three weeks. Generally everyone knew they wouldn't be getting a developments job again.
Nov 8th 2008, 2:21 pm
#60
Joined: Jun 2006
Posts: 4,555
Re: Job Losses
It strikes me that the higher earners are getting hit at the moment. People like bankers are the bank office and support companies. I have noticed that the higher end of the Sydney housing market hit higher than the middle areas. The lower end has already been hit.
