Saturday, June 14, 2008

Australian Economy is landing ... with a thud

"A lack of confidence in the Rudd Government’s ability to manage the economy and uncertainty about the return of unfair dismissal laws and compulsory collective agreements is contributing to a further weakening in employment. Today’s ABS statistics showing a fall in employment of 19,700 jobs is further confirmation that Kevin Rudd and Wayne Swan have successfully talked down the Australian economy and this has led to a collapse in consumer and business confidence. Kevin Rudd must explain the reasons behind the Budget forecast that 134,000 jobs will be lost in Australia by June next year and to identify the sectors of the economy that can expect to be hardest hit by the policies of his Labor Government. The Sensis Business Index for Small and Medium Enterprises, released on 5 June, reported that business confidence has plummeted and expectations about the economy over the next twelve months are at their lowest point in 15 years." Read more here ...

What a week!

Tuesday 10th saw a sequence of bad economic news: business confidence falling, job advertisements falling and house borrowing also falling.

Wednesday 11th revealed a sharp fall in commercial borrowing as well as steep falls in consumer confidence.

Thursday 12th saw the first fall in job numbers in 19 months indicating some 20,000 fewer people in the workforce.


2 comments:

Donald Douglas said...

Talked it down!!

That's interesting, Ottavio! I hope your economic fortunes stay well...

kiramatali shah said...

. The Center for Media Research has released a study by Vertical Response that shows just where many of these ‘Main Street’ players are going with their online dollars. The big winners: e-mail and social media. With only 3.8% of small business folks NOT planning on using e-mail marketing and with social media carrying the perception of being free (which they so rudely discover it is far from free) this should make some in the banner and search crowd a little wary.
www.onlineuniversalwork.com