Job Growth

September 22, 2014 12:08 pm

G20 Finance Summit Global Targets Provide Optimism for Job Growth


Plans to meet the global target of 2% growth is underway as over 900 policy initiatives are set to add $2 trillion to the world’s economy, according to G20 finance ministers who gathered for the recently concluded G20 Finance Summit in Cairns. Treasurer Joe Hockey has praised the G20, stating that they have “embraced a once – in – a – century opportunity” as it pushes reform in international tax and the global financial system while removing barriers in investments. The G20 is supported by the International Monetary Fund, with a 1.5% to 1.9% growth expectation for the next five [...]

G20 Finance Summit Global Targets Provide Optimism for Job Growth2023-03-03T00:01:38+10:00

March 13, 2014 12:50 pm

Job Numbers Up For February


The unemployment rate was unchanged for last month but surprisingly, new jobs were added to the economy. 80,500 full – time jobs were added and 33,300 part time positions were scrapped. These changes for last month made February the second highest growth month on record. The trend points to more growth in full time positions, showing that the labor market is slowly recovering. The job losses in certain industries were offset by positions made available by Woolsworth, creating 6,981 jobs for their 108 new stores between 2014 and 2015. Coles will be building 70 new stores that will generate 16,000 [...]

Job Numbers Up For February2023-03-03T00:01:41+10:00

February 27, 2014 3:10 pm

Qantas to Axe 5000 Jobs


Another huge blow to the employment sector was revealed when Qantas CEO Alan Joyce announced 5000 job cuts are necessary to keep the business afloat. This announcement drew mixed reactions throughout the nation, as the airline company declared $252 million in losses. So far, no declaration as to what region will be severely affected by the job cuts, and it can also take time before the company gets to sell off their terminals. The Qantas CEO is set to meet with major union leaders to discuss the plans of cutting 5000 jobs in a two year period, as well as [...]

Qantas to Axe 5000 Jobs2023-03-03T00:01:41+10:00

Treasurer Supports the Construction of a 2nd Sydney Airport


Treasurer Joe Hockey supports the construction of a second airport in Sydney, citing that this will be essential to promote growth and investment. The treasurer has declared that he is determined to remove infrastructure bottlenecks in the city. The new airport will be built at Badgerys Creek, and the treasurer is confident that this will be a major driver in new jobs. The nation’s unemployment rate is at 6%, the highest it has been in 10 years. The opposition has argued that Sydney has become too crowded, which Hockey refuted, calling these comments ''tragic'', ''malevolent'' and ''unforgivable''. He argued that [...]

Treasurer Supports the Construction of a 2nd Sydney Airport2023-03-03T00:01:41+10:00

Unemployment Up at 6% – The Worst in 10 Years


The nation posted its worst unemployment rating in 10 years. The unemployment rate rose to 6%, after 3700 jobs were lost in the economy, according to the Australian Bureau of Statistics. 7100 full time jobs were lost and 3400 part time jobs were added, showing clear signs of a weakened labour market. Businesses are losing confidence in the future economic conditions, forcing them to cut jobs, according to Moody's Analytics associate economist Katrina Ell. The unemployment rate is expected to rise further than 6% throughout the year as the effects of the declining mining industry start to show. Recent news [...]

Unemployment Up at 6% – The Worst in 10 Years2023-03-03T00:01:41+10:00

Toyota to Shut Down Local Production by 2017


Toyota’s announcement to shut down local production by 2017 delivered a massive blow to the automobile industry. 50,000 skilled workers are set to lose their jobs, possibly leading Victoria and South Australia into recession. Toyota has followed the footsteps of Holden and Ford, all announcing 2017 as the end of their production locally. All 3 brands will import their vehicles moving forward. High productions costs, the unstable Australian dollar and free trade agreements were cited as the reason for Toyota’s decision. This move is set to change manufacturing in the country, as the government is scrambling to provide packages for [...]

Toyota to Shut Down Local Production by 20172023-03-03T00:01:41+10:00

Port Botany Robots Destroyed by Freak Storm


Hundreds of jobs at Patrick’s operations were set to be replaced by robots in an attempt to modernize tasks at Port Botany. A freak storm damaged $1.52 million worth of robots that were supposed to automate wharfies jobs. The 44 new carriers are set to replace the existing 42 carriers manned by wharfies at the port. When fully functional, Patrick will be laying off 270 of its 511 workers, saving them an estimated $50 million a year. Majority of the robots which were en route to Australia from Poland were severely damaged, allowing wharfies to keep their jobs – for [...]

Port Botany Robots Destroyed by Freak Storm2023-03-03T00:01:41+10:00
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