financial crisis

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Wages growth ‘lowest on record’: Gillard

WFD: The labour price index for the 12 months to the Dec quarter 2009 increased by 3.0% on trend terms, the ABS announced on Feb 24. Deputy PM & WR Minister Julia Gillard told the National Press Club the wages growth was the lowest since records had been kept. This was a reflection of the ...more

Working hours not cut in the GFC, says report

Working hours not cut in the GFC, says report

During the GFC, workers who stayed in their jobs didn’t reduce their working hours, despite widespread govt and commentator claims that cuts in hours had helped stem job losses during the downturn, a new report has revealed.

Jobs outlook ‘positive’, but think about existing staff before hiring

Jobs outlook ‘positive’, but think about existing staff before hiring

Unemployment has increased to 5.8%, but companies are “increasingly positive” about staffing levels in 2010, says Drake Int’l head Matthew Tukaki. “Many are now at, or below, the minimum staffing level required to function effectively,” he said.

Contingent labour essential to post-recovery world: Manpower

Contingent labour essential to post-recovery world: Manpower

More than half (51%) of Aust employers don’t view contingent labour as a strategic part of their workforce, despite the fact the economy’s recovery phase will require employers to use contingent staff when demand begins to increase, according to a new white paper.

2% of termination decisions result in reinstatement, as GFC bites

2% of termination decisions result in reinstatement, as GFC bites

WFD: Just 14 (2%) of 693 AIRC termination of employment decisions last financial year resulted in reinstatement, according to its annual report. The 2% reinstatement rate compares to a 3% rate in the prior 12 months (18 out of 600 decisions [WF1695]).

‘Jobless’ recovery forecast

‘Jobless’ recovery forecast

Employees are “losing hours rather than jobs”, which means peak unemployment in mid-2010 may be “only 6.8%”, says Access Economics latest business outlook. “Yet those lost hours will be recovered in the recovery, and that lift in working hours will make it feel like a jobless recovery for a time,” Access Economics director Chris Richardson said.

Unemployment drops to 5.7%

Unemployment drops to 5.7%

Unemployment dropped in Sept by 0.1% to 5.7% on a seasonally adjusted basis, according to ABS labour force statistics released on Oct 8 (WF1696). Employment increased by 40,600 to 10,805,600. Full-time employment increased by 35,400 to 7,589,800 and part-time by 5,200 to 3,215,800.

HR directors reducing accrued leave

HR directors reducing accrued leave

HR directors have tackled reducing accrued annual leave with renewed vigour as the GFC’s impact bites, a CEO Forum report has found. “With the degree of scrutiny balance sheets are now exposed to, it’s inevitable that pressure would come on to reduce this liability as soon as possible,” one respondent said.

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