Unemployment is one of the factors that really influence the economy. Past months ago, employment in Australia is very in demand because of the mining sector but what happened, why unemployment rise? Is this the reason why the economy crashed?

According to Roy Morgan Research released last Monday, the results of its latest unemployment and under-employed survey, “Unemployment in Australia is now at 10%, and quite a bit higher than experienced during the GFC.” There are so many factors behind this, but what is the key driver in the increase of unemployment? Are there more people now participating in job market? We have different views why unemployment rise but the mere fact is, rising of unemployment really affects the economy. Indeed, unemployment needs to decrease and I think people now, after the retrenched employees for holidays, more people now back into looking for work.


Tags: ABS, Unemployment


According to Australian Bureau of Statistics (ABS), “housing finance figures for October 2011 show in trend terms that following half a year of consecutive decreases, the number of finance commitments increased marginally for the sixth consecutive month; the October increase was 0.7%.” The housing commitments increase to 17.9% in October compared to 16.4% in September, as a percentage of the number of first home buyers. First home buyers contributed an increase of 23% in Victoria and 17% in New South Wales and Queensland. It shows that house prices will weakened and investor housing finance was unchanged.

According to David Cannington at ANZ Research, “While both the investor and upgrader segments are on a softening trend, first home buyers are showing a fledgling recovery. Weakening house prices and lower mortgage rates (with the November and December rate cuts still to provide a positive impact to housing finance) have improved housing affordability to a point that is encouraging first home buyer activity.” In trend terms, the value of the investment housing commitments was flat and the figures shows that first home buyers are returning to the market. Many people expect that there will be continues increase in housing finance.

Tags: ABS, housing