Daily BulletinHoliday Centre


  • Written by News Feature Team

The recent announcement of the 5.7% unemployment figure offers further evidence that the Australia’s economic outlook may not be as strong as previously thought and while many analysts are optimistic for the future, this coupled with a dollar falling in value will rightly make many nervous.


Employment Figures


In November, there was a rise of over 39,000 people coming into full time employment with Queensland showing the biggest increase in new full-time workers. This surprised many as expectations had been just half that. The rise in employment from October to December was 0.1% with one senior economist suggesting that it was a direct result of more people seeking employment rather than those being put out of work. In line with this thinking, the participation rate, or the number of people available and able for work, rose from 64.4% in October to 64.6% in December. Interestingly Fintech, IT and Digital enterprises have recently been responsible for leading the way in terms of job creation.


Despite the rising figures of unemployment, the good news for Australia is that there are signs of full time jobs are being regularly created and the Australian Reserve Bank have indicated that should it continue, they will keep interest rates on hold until at least February. HSBC CEO Paul Bloxham adds that an improving job market should provide some support to the current sluggish pace of wage growth.


Outlook for 2017


There is a lot of confidence from economists going into 2017 when it comes to employment and the economy; Justin Smirk Senior Economist for Westpac Group states:


'That soft patch as we go into the new year is passing and we should be seeing employment match more what we've been seeing more from the business surveys, which are pointing towards jobs growth of around 1.8 to 2 percent per annum.’


There are also high hopes for a wage hike going into the new year to match production and growth, especially in industries based around natural resources. Rising prices in oil, iron-ore and coal should in theory therefore see money trickle down in accordance with efforts from the government and workers being rewarded with higher wages as well as create opportunities for commodity traders. National wage increase has been relatively slow during the past 18 months, slower than in the 3 years prior.


Additionally, the Australian real estate bubble looks to be showing no signs of bursting and construction and commercial development projects should also continue in the new year as a main source of job creation throughout the country.


Despite Australia’s heightened unemployment levels there does seem to be a lot of hope for the coming months and the coming new year as job production is still showing some very positive signs. The level of unemployment however is likely to negatively impact the dollar and see it slide even further making for some interesting results to be expected from Q4 and a turbulent outlook for 2017.


The Conversation


Scott Morrison Press Conference - Australian Parliament House

Good afternoon. While we are facing more benign weather conditions in the short term, this morning, I received briefings from the Bureau of Meteorology, which set out that over the medium term out...

Scott Morrison - avatar Scott Morrison

Bushfire emergency support for primary producers

Farm, fish and forestry businesses in fire-affected regions will get the help they need to rebuild with an initial $100 million in emergency bushfire funding, which will be made available following ag...

Scott Morrison - avatar Scott Morrison

Immediate financial support for bushfire affected communities

The Morrison Government will provide an initial and immediate base payment of $1 million to 42 of the most severely bushfire impacted councils in New South Wales, Victoria, South Australia and Que...

Scott Morrison - avatar Scott Morrison

Business News

How to Choose the Right Data Recovery Solution for your Business

In the modern business environment, data is one of the most important commodities. A typical B2C seller, for instance, offering home delivery service cannot deliver the product to the right addres...

News Company - avatar News Company

CrowdStrike Services Cyber Front Lines Report

New CrowdStrike Report Finds an Increase in Cyber Adversaries Turning to Business Disruption as Main Attack Objective CrowdStrike Services Cyber Front Lines Report offers observations gained from t...

Media Release - avatar Media Release

Which web design software is best for beginners

There are dozens of site-builders and software devoted to the art of creating a website. Some of these, like the one offered by Adobe, are more technically oriented and in many cases require a backg...

News Company - avatar News Company


The Family Travel Handbook from Lonely Planet

Everything you need to know to take unforgettable trips with your children   Full of practical advice, ideas and inspiration for every type of family, Lonely Planet's The Family Travel Handbook ...

Adam Bennett - avatar Adam Bennett

3 Ideas for a Family-Friendly Holiday to Bali

A family holiday is always an exciting time, but it can often come with its fair share of challenges, especially when trying to keep every member of the family happy. Thankfully, the beautiful islan...

News Company - avatar News Company

The Best Things to Do in Adelaide Hills

Adelaide Hills has long been a relaxing escape for the people of Adelaide and beyond. Its proximity to the capital makes it an accessible destination that feels like you’re miles away from the hustl...

News Company - avatar News Company