twinsmom65 Posted March 13, 2013 Share Posted March 13, 2013 Looks like things are not all rosey in Australia !! Victoria looks like it is in recession, and I have read that South Australia has entered into a recession. Not good news ! http://www.wsws.org/en/articles/2013/03/07/bail-m07.html Cheers Karen Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 13, 2013 Share Posted March 13, 2013 Yes, I think 4 of the States are in recession. Shocking mismanagement. Link to comment Share on other sites More sharing options...
twinsmom65 Posted March 13, 2013 Author Share Posted March 13, 2013 Yep really showing it is a two speed economy now in Australia ! I feel bad for anyone moving now. You would def need a job lined up first I think in order to move over. Karen Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 13, 2013 Share Posted March 13, 2013 The 2 speed economy has become even more clear in the last 6 months or so. How the country can be earning so much from mining and allow States to slide into recession is beyond me. I look forward to Juliar getting the boot but its going to be out of the fryingpan and into the fire with the alternative. Link to comment Share on other sites More sharing options...
jimmyay1 Posted March 14, 2013 Share Posted March 14, 2013 It really isn't that bad, and i think the definition of recession here is rather different to the UK and economic sentiment (minus the political noise) is fairly positive. Unemployment actually fell last month, it's 5.5 % in this state. Compared with 8.5% in London, 5 years after the never ending recession there started, and i know where i'd rather be. I didnt have a job lined up before i came and have managed just fine, just do your homework first though. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 14, 2013 Share Posted March 14, 2013 Fallen to 5.5%, thats interesting. http://www.abc.net.au/news/2013-02-07/big-jump-in-victoria27s-unemployment-rate/4506474 Also as you mentioned London the rate there went down in the same period. The definition of recession is exactly the same, a period of negative growth. It has nothing to do with where one or other person would rather be, those people losing their jobs are still unemployed. Link to comment Share on other sites More sharing options...
Guest Guest 47403 Posted March 14, 2013 Share Posted March 14, 2013 Hopefully the states that are in recession have learnt from watching the mistakes made by the UK and will get themselves out of it quickly by stimulating growth again, I wouldn't wish the state of the UK economy on anyone. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 14, 2013 Share Posted March 14, 2013 Well yes lets hope they can stimulate growth but I can see there will be much improvement while the dollar is so high, it is causing rises in unemployment and major pain for manufacturers and exporters. Australia needs another round of interest cuts. Link to comment Share on other sites More sharing options...
Adjutant Posted March 14, 2013 Share Posted March 14, 2013 Is part of the problem that UK, Australian Federal and State government all face that our society is expecting a greater and greater role of government and provision of social safety nets, but are unwilling to fund this through higher levels of taxation. Nowadays it seems unpalletable that anyone in society is allowed to fall by the wayside and it is expected that the state should be there to provide a good standard of living to all. But this comes at a cost that governments can not sustain. I think I read that 25% of welfare spending is financed by borrowing in the UK. I think this is a greater indicator that we can not afford the safety nets that governments are pressured to provide. Its a very noble idea that we should be able to look after our own as a society. But what happens when can not longer afford to? Link to comment Share on other sites More sharing options...
colinmaclec Posted March 14, 2013 Share Posted March 14, 2013 Whilst i agree that there are far too many people who expect state handouts. The real problem lies in wealth distribution does it not? The richest people in the UK have increased their wealth during the worst recession we have ever seen. Something does not quite add up there if you ask me. People lose their homes because they fall behind in mortgage payments because they have lost their jobs and large corporations are handed billions of assistance yet still increase bonuses and pay rates. Link to comment Share on other sites More sharing options...
prias Posted March 14, 2013 Share Posted March 14, 2013 I noticed just today that the exchange rate for the US$ is slightly higher than AUS$. So that is why... :arghh: Link to comment Share on other sites More sharing options...
Adjutant Posted March 14, 2013 Share Posted March 14, 2013 I agree, but the bonuses and pay rises are funded by the private sector, whereas the welfare is funded by the public sector. So as mentioned previously, unless society (which includes individuals and corporations) are willing to redistribute that wealth in the form of higher taxes, then the publis purse doesnt have enough to go around - yet society expects it to do so. Link to comment Share on other sites More sharing options...
jimmyay1 Posted March 14, 2013 Share Posted March 14, 2013 Fallen to 5.5%, thats interesting.http://www.abc.net.au/news/2013-02-07/big-jump-in-victoria27s-unemployment-rate/4506474 Also as you mentioned London the rate there went down in the same period. The definition of recession is exactly the same, a period of negative growth. It has nothing to do with where one or other person would rather be, those people losing their jobs are still unemployed. The link is last months figures,there's been a big fall this month. Link to comment Share on other sites More sharing options...
Adjutant Posted March 14, 2013 Share Posted March 14, 2013 I noticed just today that the exchange rate for the US$ is slightly higher than AUS$. So that is why... :arghh: Because the USD is worth less than AUD. So if your converting GBP to USD you will get more USD than you would if you are converting GBP to AUD. Traditionally 1 AUD would be worth around 0.75 USD. Nowadays its averaging 1.04 USD. Link to comment Share on other sites More sharing options...
calNgary Posted March 14, 2013 Share Posted March 14, 2013 The link is last months figures,there's been a big fall this month. Not really a big fall but definitely a slight one according to this posted today - ''Australia's seasonally adjusted unemployment rate remained steady at 5.4 per cent in February, as announced by the Australian Bureau of Statistics (ABS) today. '' More info can be found here - http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/6202.0Media%20Release1Feb%202013 Cal x Link to comment Share on other sites More sharing options...
Skani Posted March 14, 2013 Share Posted March 14, 2013 Yep really showing it is a two speed economy now in Australia ! I feel bad for anyone moving now. You would def need a job lined up first I think in order to move over. Karen It's been a two speed economy for a couple of years - the mining versus the non-mining states. But today the employment figures for February were announced and there was an increase of 70,000+ jobs, much to everyone's surprise - the biggest monthly increase in over 10 years. http://www.theage.com.au/business/the-economy/spectacular-jobs-growth-keeps-unemployment-down-20130314-2g1xu.html Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 14, 2013 Share Posted March 14, 2013 I must say I share the suspicion mentioned in that story, forecasts of 10,000 jobs turns into over 70,000 :rolleyes: Mostly part time but good none the less. Its interesting at a time we are seeing lots of lay offs but we have to believe what they say I guess. I would be equally sceptical if it happened here it must be said. Link to comment Share on other sites More sharing options...
Petals Posted March 14, 2013 Share Posted March 14, 2013 Where have you all been old news, Ted went a few days ago, it was bound to happen, Victoria has been losing jobs for months and months in fact ever since the gov changed and the new gov were hell bent on getting a surplus. Also the Feds because its an election year have been cutting too hence no nursing jobs around much as they cut cut the health. Increased waiting lists etc. However that said it sounds bad but its not that bad and I will be surprised if most Victorians notice apart from those affected. Link to comment Share on other sites More sharing options...
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