Job Growth

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 [...]

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 [...]

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 [...]