In short: The CBH Resources Rasp Mine in Broken Hill has been sold to Broken Hill Mines Limited. The transfer has saved 120 workers’ jobs. What’s next? CBH Resources says the new buyers will support a longer-term mine plan. Miners at CBH Resources’ Rasp Mine in Broken Hill have been told their fate after eight...
Tag: employment
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ANZ warns unemployment could rise above 5pc as ‘over-qualified’ job applicants feel ‘abandoned by society’
In short: ANZ is warning the labour market is poised to deteriorate sharply. Recruiters are reporting hundreds of applications for individual roles. What’s next? The RBA will have to sort through the evidence on unemployment before its next meeting in August. While the jobless rate has been slowly creeping higher, alarm bells are ringing about...
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AUD/USD gains ground near 0.6700 on upbeat Australian job demand
AUD/USD finds interim support near 0.6700 on surprisingly upbeat Australian job growth. Upbear Australian labor demand has prompted prospects of RBA’s further policy tightening. US bond yields bounce back despite firm Fed rate-cut prospects. The AUD/USD pair manages to gain firm-footing near the round-level support of 0.6700 in Thursday’s European session. The Aussie asset discovers...
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Australian shrugs on mixed employment data
The Australian dollar is showing limited movement on Thursday. AUD/USD is trading at 0.6736 in the European session, up 0.10% on the day, up 0.1% at the time of writing. Job growth shines but unemployment rises Australia’s employment report for June was a mix, leaving investors scratching the heads. The Australian dollar didn’t show much...
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Australian Dollar bounces off two-week low against USD after mixed jobs report
The Australian Dollar gets a minor lift from the mixed Australian employment data on Thursday. The number of employed people rose by 50.2K, while the Unemployment Rate ticks higher to 4.1%. The emergence of some USD buying keeps a lid on any meaningful upside for the AUD/USD pair. The Australian Dollar (AUD) has been trending...
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Australian Army Band offering musicians a rare full-time job opportunity – ABC listen
Rachel Mealey: It’s famously difficult to make a living as a musician, but for a select few, a gig with the Australian Army Band has proven to be a dream job. It’s a role that offers job security, audiences all over the country and a chance to travel the world. But it comes with some...
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Unemployment edges up despite more than 50,000 extra jobs amid rapid population growth
Australia’s unemployment rate has continued to edge higher, despite the creation of about 50,000, mostly full-time, jobs. Bureau of Statistics figures put the unemployment rate at 4.1 per cent in June, up slightly from 4 per cent the previous month. The bureau’s head of labour statistics, Bjorn Jarvis, said a slight increase in the proportion...
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Australian Unemployment Rate seen unchanged at 4% in June with solid job creation
The Australian Unemployment Rate is foreseen unchanged at 4% in June. Employment Change expected at 20K, down from the previous 39.7K. AUD/USD struggles to extend gains ahead of the announcement. With sentiment dominating financial markets, the Australian Bureau of Statistics (ABS) will release the monthly employment report on Thursday at 1:30 GMT. The country is...
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Making a living as a musician is no easy gig – so these performers turned to the Army
When Toby Brown dreamed of a career as a professional drummer, he did not envisage it would include bootcamp, weapons training and a camouflage uniform. “I never thought in my wildest dreams that I would be in the defence force,” he said. The 25-year-old was studying music at university and “really needed a way to...
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‘We got breadcrumbs’: One of Australia’s biggest unions accused of pushing a bad deal for Woolworths workers
In short: Woolworths workers have voted in favour of a wage increase of 3.75 per cent — the same as the Fair Work Commission’s annual award wage increase. Smaller unions say the deal, brokered by the SDA, is a ‘dud’ deal for Woolworths employees. What’s next? The new agreement requires final sign-off from the Fair...
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Australia’s unemployment rate declines to 4 per cent in May
Australia’s headline unemployment rate was 4 per cent in May, down 0.1 percentage points from April. The unemployment rate declined slightly because employment rose by 40,000 people in May, and the number of officially unemployed people fell by 9,000. The Bureau of Statistics says in April there had been more unemployed people than usual who...
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Australian unemployment rate seen easing to 4.0% in May despite tepid job creation
The Australian Unemployment Rate is foreseen to contract to 4% in May. Employment Change expected to remain tepid, up by 27.5K in the month. AUD/USD set to run to fresh multi-month highs with an upbeat report. Australia is set to release the May employment report on Thursday at 1:30 GMT. The Australian Bureau of Statistics (ABS)...
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