media brief - june 2015
TRANSCRIPT
A CXC Global Knowledge InitiativeMonthly Media BriefEmployment | The Economy | Contract WorkJune 2015
IntroductionThe purpose of this monthly report is to provide you with an
opportunity to better understand recent news at both a macro & micro level, to understand topical trends covered in the media both locally & globally, and to discuss how these may impact
business in A/NZ.
1
THE ECONOMYBelow, a summary of the coverage around the economic outlook for Australia for the period: 4 June 2015 – 17 June 2015..
The Economy
AUD
rem
ains
stea
dy
Cons
umer
con
fiden
ce
fell
shar
ply
in Ju
ne,
reve
rsin
g po
st-b
udge
t ga
ins
Busin
ess c
onfid
ence
is
up, t
he e
cono
my
is he
alin
g, a
s a fu
rther
rate
cu
t unl
ikely
Decli
ne in
min
ing
inve
stm
ent w
ill co
ntin
ue, a
nd
pote
ntia
lly a
ccel
erat
e
Cons
umer
Sen
timen
t lo
west
sinc
e Ju
ne 2
015
unwi
ndin
g th
e bo
ost i
n M
ay w
hich
is b
eing
at
tribu
ted
to th
e ra
te c
ut
Consumer confidence
Decline
Other components:• dwelling
approvals• commodity
prices• US industrial
production• hours worked
were flat as was the ASX in May (posting material declines in early June)
Infrastructure spending needs to be stepped up, for Australia to experience long-term growth. The economy isn’t at the speed the government or analysts had hoped for
Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany's EU commissioner to say the time had come to prepare for a "state of emergency"
Financial services big bonuses are back: 41% saying their bonus was higher compared to last year. 11% said their bonus was significantly higher while 30% received a ‘higher’ bonus
Conversations around abolition of stamp duty have resurfaced, in light of the booming housing markets in Sydney & Melbourne. Alternatives for an expanded GST or increased land tax are also under discussion
Threat
Pension reform: expected to pass Parliament 16th
June
NSW: $9B infrastructure project – Sydney Metro (light
rail)
JOBS OUTLOOKBelow, a summary of the coverage around jobs outlook for Australia for the period: 4 June 2015 – 17 June 2015.
Jobs Outlook
Job ads rose in May compared with the same month last year.
Job Ads Rise1
But month-on-month job ads fell by 3.1%, partially reversing the 4.7% gain from April.
Month-on-Month Ads Fall
2
Non-mining states recording the biggest increase in job ads, reflecting improving trends for the non-mining economy.
More Jobs in Non-Mining States3
US GAO(Government
Accountability Office)
More discussion now around the need for governments to remain up-to-date with these changes as current legislation is deemed insufficient and not keeping up with the tally of independent workers.
This article references Government’s data – which isn’t remaining abreast of the real tally of workers in the US. In reference to the ‘gig economy’,
In summary, there’s a lot that isn’t known about the non-permanent segments of the workforce
In the US, the ‘big economic problem no one is talking about’ hamstringing the economy outside of poor wage growth and swelling ranks of long-term unemployed
The march towards 40% of America’s jobs being ‘contingent’ is getting closer – and describe these jobs as not particularly secure, and are made up of positions that require employees to work on contracts, on-call, or as independent contractors
SourcesEconomy & Jobs:
1. Consumer sentiment low http://bit.ly/1JWTcdJ 2. Mixed business outlook http://bit.ly/1JWTj9j 3. Financial Services: Big bonuses are back http://bit.ly/1dJsMQl 4. AUD remains steady http://bit.ly/1eQaf5U and http://bit.ly/1JWT9P3 5. Infrastructure growth http://bit.ly/1JWT4ed 6. Greece, RBA http://bit.ly/1dJsKrM 7. Stamp duty & land tax http://bit.ly/1JWV3PR8. Pension reform http://bit.ly/1TsCZkR9. Sydney Metro (light rail) http://bit.ly/1TsD5cq 10. Job ads flat but increasing in non-mining states http://bit.ly/1TsDxr011. Job ads remain flat http://bit.ly/1TsDNX7
Contract Work:12. Flexpert Careers http://bit.ly/1TsEfVo13. US policy makers not ready for the ‘gig economy’ http://bit.ly/1TsE6B5 14. Big economic problem no one is talking about http://bit.ly/1InET35 15. Increasing acceptance of contract workers in the US http://bit.ly/1TsEwrm 16. Beeline Plugin http://bit.ly/1TsFxzq 17. STP Payroll http://bit.ly/1FlMU0Q
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