Mongrel Posted February 23, 2009 Share Posted February 23, 2009 I guess each state is reacting differently to the problems. While like you said, WA doesn't seem to be recovering, I've read 2 separate articles this week in the Herald Sun (online) both stating how Melbourne's property market is reviving (I think the home owner grants in VIC are the same as WA) Methinks and I have local knowledge , a lot of the migrants are waitin for the prices to fall before they buy dont realise soon as they start buying the prices will go up again, newspapers are newspapers tho and one with the Sun name welll!!... Link to comment Share on other sites More sharing options...
Guest peterb Posted February 23, 2009 Share Posted February 23, 2009 newspapers are newspapers tho and one with the Sun name welll!!... Well I have to concede that point, back in the UK at the moment (temporarily), but I listen to ABC Melbourne radio (streaming online) and the the paper in question has been quite heavily criticized recently over several issues, including it's handling of ceratin stories relating to the bushfires. On a seperate note, it's reporting today that: THE Rudd Government is poised to announce a major cut to the nation's immigration intake to protect Australian jobs. Immigration Minister Chris Evans said the global financial crisis would slash demand for labour and the need to import foreign workers. "The Rudd Labor Government's clear policy is to provide opportunities to Australians first in the labour market," he said. It doesn't speculate what the cut will be from the 190,000 this year. Link to comment Share on other sites More sharing options...
Mongrel Posted February 23, 2009 Share Posted February 23, 2009 Well I have to concede that point, back in the UK at the moment (temporarily), but I listen to ABC Melbourne radio (streaming online) and the the paper in question has been quite heavily criticized recently over several issues, including it's handling of ceratin stories relating to the bushfires. On a seperate note, it's reporting today that: THE Rudd Government is poised to announce a major cut to the nation's immigration intake to protect Australian jobs. Immigration Minister Chris Evans said the global financial crisis would slash demand for labour and the need to import foreign workers. "The Rudd Labor Government's clear policy is to provide opportunities to Australians first in the labour market," he said. It doesn't speculate what the cut will be from the 190,000 this year. Late last year the emphasis was on sponsorship visas by the pollies , where it does what it says on the tin , occupation visa does the occupation where the skill shortage is mally Link to comment Share on other sites More sharing options...
The Ozcans Posted February 23, 2009 Share Posted February 23, 2009 Isn't it possible that they won't actually cut immigration numbers? - but are saying this because it's what Australians want to hear? Just a thought, cos actually I never trust a word the bas***s say! I know we've always been spun a load!! Sue x Link to comment Share on other sites More sharing options...
Guest lovediving Posted February 23, 2009 Share Posted February 23, 2009 It is not just that paper, I think you will find it is in other paper too. Well I have to concede that point, back in the UK at the moment (temporarily), but I listen to ABC Melbourne radio (streaming online) and the the paper in question has been quite heavily criticized recently over several issues, including it's handling of ceratin stories relating to the bushfires. On a seperate note, it's reporting today that: THE Rudd Government is poised to announce a major cut to the nation's immigration intake to protect Australian jobs. Immigration Minister Chris Evans said the global financial crisis would slash demand for labour and the need to import foreign workers. "The Rudd Labor Government's clear policy is to provide opportunities to Australians first in the labour market," he said. It doesn't speculate what the cut will be from the 190,000 this year. Link to comment Share on other sites More sharing options...
Guest proud2beaussie Posted February 25, 2009 Share Posted February 25, 2009 This is not the sort of news I like to see. 10,000 jobs to go as resources boom stutters 25/02/2009 9:00:00 AM By Stuart Fagg, ninemsn Money More than 10,000 mining, gas and oil jobs will be lost in the next 18 months as the resources boom grinds to a halt, according to a leading economist. The job losses stem from the huge drop in commodity prices over the past year and resulting cancellation of resources projects across the oil gas and iron ore sectors. Frank Gelber, chief economist at BIS Shrapnel said "a ballpark figure" of 10,000 jobs could go in Western Australia alone as investment in the minerals section slumps by at least 50 percent. Last month the world's biggest miner, BHP Billiton, axed 3400 workers at two of its sites, and announced that a further 1100 jobs will go at the company's Queensland coal operations and 200 jobs will be lost at the BHP's Olympic Dam mine project. Rio Tinto, meanwhile, announced plans to reduce its global workforce by 21,000 late last year. Dr Gelber believes that while Australia won't slide into a deep recession, the fear will drive the unemployment rate up to 7 percent. Unemployment in Australia is currently 4.5 percent. "Fear of unemployment is self-fulfilling," Dr Gelber said. "We will probably see the unemployment rate approaching 7 percent some time next year. Sure, the global financial crisis has driven a collapse in equity markets and the credit squeeze, but in terms of the real economy, we're shooting ourselves in the foot." He added that the economy will most likely fall into a "moderate downturn" with ongoing weakness caused by reduced business investment. "Whether or not there is a technical ‘recession’ is not the point to get hung up on, but this is a substantial downturn," he said. Link to comment Share on other sites More sharing options...
Guest proud2beaussie Posted February 25, 2009 Share Posted February 25, 2009 Yet elsewhere there are some that believe it won't be a long lasting recession. From: Real Time Economics : Bernanke Testimony: Will Economy Recover With a V or L? Federal Reserve Chairman Ben Bernanke presented a fairly hopeful scenario to Senate lawmakers today, saying there’s a “reasonable prospect” that the recession will end this year after a deep contraction in the economy. He indicated 2010 “will be a year of recovery.” What kind of recovery? Sen. Chuck Schumer (D., N.Y.) sought to compare today’s troubles to the Great Depression. Unlike back then, the economy and financial relationships today are “more interconnected,” Mr. Schumer said. “It means, in a certain sense, things go down quicker, because it doesn’t take time to spread from one place to the other, whether it be countries, industries, or whatever. But then, when things change, the psychology changes, you hit bottom, it goes up quicker. “Do you buy that?” Mr. Schumer asked the Fed chairman. “Are you more a student of the V theory or the L theory, in terms of where we are?” (The V theory for recovery — GDP growth shaped like a V, for instance — would suggest a fairly sharp turnaround next year. The L path would suggest a much longer road to recovery.) In my view a lot is going to depend on Obama and how he manages the US budget. Link to comment Share on other sites More sharing options...
Guest proud2beaussie Posted February 26, 2009 Share Posted February 26, 2009 More Bad News I'm Afraid. From: 400 local jobs to go as Lend Lease cuts 2000 worldwide | The Australian 400 local jobs to go as Lend Lease cuts 2000 worldwide PROPERTY giant Lend Lease will cut its Australian workforce by about 400 positions, as it copes with a half-year loss of $596.4 million. Lend Lease will slash 2000 jobs worldwide, taking its overall workforce to about 10,000. Chief executive Steve McCann said the staff reduction would relate mainly to project-related workers. “Once the projects are completed, they won't be re-employed,” he said. Some senior managers at Lend Lease would also depart as the result of the restructure. The move comes on the back of a slowdown in the group's construction and residential development operations that has been triggered by the global financial crisis. Hope there are no PIO members involved . Link to comment Share on other sites More sharing options...
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