Tag: Unemployment Rate

Australia’s unemployment rate increased by 0.2 percentage points to 5.3 percent in July, seasonally adjusted, with a fall in the number of full time employed.

The Commonwealth Bank of Australia (CBA) has refused to rule out possible job cuts within the bank, as they prepare for the worst. According to CBA chief executive Ralph Norris, the economy is set to get worse as unemployment rises and further threatens the banking system. “There’s no doubt that the toughest period in the […]

As the Australian economy slows, the Government has taken swift action to protect jobs by cutting the immigration intake by 14 percent. Immigration Minister, Chris Evans is set to announce a 14 percent cut to the skilled migration program, capping the number of workers entering Australia at 115,000, down from 133,500 in 2008-09. The decision […]

In yet another blow to the economy, Australia’s unemployment rate has hit 5.2 percent. Data released today by the ABS has shown that 53,800 jobs were lost in February, the biggest drop in full-time positions since mid-1991. The unemployment rate has increased by 0.4 percent in the last month alone, but is set to rise, […]

Charities have become the latest victims in the global financial crisis, with a growing number applying for funding to meet a rising demand for services. According to Perpetual, Australia’s largest manager of charitable trusts, 942 charities have applied for funding this year, up 26 percent on last year. The applications have totalled $60 million. With […]