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Federal Government announces plans to change JobSeeker rate as payments return to pre-pandemic levels

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Business news and updates: Australian employment tumbles by 146,300

Dynamic Business brings you a daily rundown of the most recent business news and developments from Australia and around the world. Here’s the roundup for September 17:

Australian employment tumbles by 146,300

As a result of a series of lockdowns across the country, the number of people employed in Australia dropped by 146,300 in August. 

However, the Australian Bureau of Statistics reported that the unemployment rate fell to 4.5 percent from 4.6 percent as a result of a drop in the participation rate of those working or looking for jobs to 65.2% from 66%. 

In the month, total hours worked declined by 3.7% or 66 million hours. Bjorn Jarvis, ABS head of labor statistics, said the most recent data covered the first two weeks of August and included the prolonged lockdown in NSW, additional lockdowns in Victoria, Queensland, and the ACT, as well as a number of adjustments in restrictions.

Renewable energy sector reforms for rooftop solar customers

The government says the reforms will reduce the number of low-quality rooftop solar installations. Reforms include giving the regulator more powers and bringing in new reporting requirements. 

The review makes 13 recommendations that, according to the government, will minimise the number of low-quality installations and unethical operators. According to the review, biometrics could be used to certify that someone who has been accredited is performing installations.

U.S. retail sales increase in August

Retail sales in the United States unexpectedly surged in August, likely driven by back-to-school shopping and government child tax credit payments, thereby tempering expectations for a severe downturn in economic growth in the third quarter.

Facebook targets harmful real networks

According to Reuters, Facebook is taking a more severe approach to shut down coordinated groups of real-user accounts participating in certain damaging actions on its platform, employing the same strategy its security teams use against campaigns utilising fake accounts.

Govt’s bid to sell Air India may finally take off

According to several media sources, the Indian government’s plan to divest itself of the state-owned airline Air India may finally take off. At the end of the deadline for submitting financial proposals on September 15, some well-known names including Tata and SpiceJet were said to be in the running. 

According to Asian News International, Tata Sons and SpiceJet chairman Ajay Singh would likely submit offers for the airline in his personal capacity.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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