Jobs, ads and business conditions soften after election and rate cuts

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A slowdown in job creation and ads, plus more signs business conditions are deteriorating, is increasing pressure on the RBA and the Morrison government to move quickly to safeguard the national economy Auspol

A net 500 jobs were created in June, with 21,100 full-time jobs almost totally offset by a 20,600 drop in the number of people in part-time work.Of the 248,300 jobs created over the past year, 84 per cent have been in Victoria and NSW.And NAB's quarterly business survey showed actual trading conditions were now below average and at their weakest since 2014.

A slowdown in job creation and advertisements plus more signs business conditions are deteriorating is increasing pressure on the Reserve Bank of Australia and the Morrison government to move quickly to safeguard the national economy. The Australian Bureau of Statistics on Thursday reported just a net 500 jobs were created in June, with the unemployment rate, on the trend measure, inching up for its fifth consecutive month to sit at 5.2 per cent.Credit:It is now at its highest point since August last year despite solid growth in total employment. Of the 248,300 jobs created over the past year, 84 per cent have been in Victoria and NSW.

But both states are starting to show signs of slowing, with NSW's jobless rate increasing marginally every month since February. While the country has added 155,000 jobs since December, the number of unemployed has also swelled by 45,000.The nation generated 21,100 full-time jobs in June, however, they were almost totally offset by a 20,600 drop in the number of people in part-time work.

Under-employment dropped in June but is still high at more than 13 per cent. There are also signs of trouble in the youth employment market, where the jobless rate rose to a 15-month high of 12 per cent.The RBA, which

 

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In a free market, it’s more effective if businesses step up rather than newspaper companies always blaming the Govt to safeguard the economy.

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