Young people appear to have little prospects for employment apart from jobs in hospitality and retail. What brought this about?
We can think of some reasons. They include the Liberal Coalition policies inviting:
-Visa workers who accept low wages to gain ‘permanent residency‘
-the demise of TAFE
-employers having access to cheap labour from visa workers
-the loss of manufacturing for cheap imports
-an economy based on high density residential development esp. mixed-use development of shops, cafes and warehouses, childcare on lower floors
-thus expansion of the retail and hospitality sectors
WHAT this report does not reveal is why those aged 75 and older may own their own home is because of their age; 40, 50 years spent paying a mortgage; during that time they paid their full taxes to cover the cost of their parents aged pensions … they enjoyed job protections, good wages and conditions through Union membership. And there were more job opportunities with a bigger range of industry …
-currently though more older women are finding themselves homeless due to insecure work; less employment continuity due to child rearing; marriage breakdown and/or domestic violence
KEY POINTS from Professor Gray’s research …
-1 in 7 Australians struggled to pay rent or mortgage payments during Pandemic
-housing stress has doubled to that of 3 months earlier
-44% of young people could not meet rent or mortgage repayments
-a relationship between age and not meeting housing payments on time
-young Australians largely employed in retail or hospitality * the hardest hit sectors by the Pandemic
-young people subject to lowest wages growth and consequently little savings
-less than 2% of those 75 and over struggle to pay rent or mortgages
QUESTION why won’t the Morrison Government come clean on what their plans are for JobKeeper from September with a review of payment now underway, and what of JobSeeker?
Rather than giving the victims sufficient payment to sustain life, does this Government prefer to look after itself with a pay increase?
ORANGE and the surrounding villages and towns. Canowindra hot air ballooning
WHY are MILLENNIALS Moving to Australia’s Regions … and Big Towns?
Of course, many Millennials are now moving to the regional cities … big towns that have the infrastructure …
SYDNEY for one has lost its appeal to many … the fuglification … the congestion …
IS it just real estate prices, or is it because Australians have had to compete with foreign ownership?
… over this period from 2011 to 2016, and up to the CoronaVirus Pandemic … during the terms of the Liberal Coalition in NSW …
KEY POINTS … from a Report determining population growth and movements …
-between 2011 and 2016 regional millennials are moving to other regions; not to capital cities
-Sydney lost more to the regions
-they were more aware of the benefits of living in the regions
-with a move to Orange there was no longer a two hour commute to work but an 8 minute drive
-able to buy a home
-they are seeking mid-sized towns with a hospital, airport, university, jobs and lifestyle!
-the regions attracted 65,000 more than they lost to capital cities
THIS no doubt reflects the very pooor policies of the NSW Liberal Coalition …
Turning our SYDNEY Town into what the Foreign Buyers have fled …
LET alone the nasty consequences for our Australian Society with a whole Cohort locked out of Sydney by not only competition from foreign acquisition … but the loss of livebility … the long commutes … that many have sought an attractive lifestyle in the Regions!
-the rest of us including admin people, University lecturers and staffers, casual teachers (who, no doubt would like permanent work), cleaners, shop assistants … and so on!
Are these workers also not Key? Essential Workers?
These reports refute the alleged 7% unemployment.Unemployment together with Underemployment and those who had given up looking because there was no job there for them (and have not been included in the Stats) amounted to 19.7% prior to the Pandemic!
‘Economists now saying Unemployment could be close to 20%’
“As Australia curbs coronavirus infection rates, some are calling for an ‘elimination’ strategy that would seal our borders, while other countries are taking a ‘let it rip’ approach. By Mike Seccombe.”
‘Prime Minister Scott Morrison, for one, says this crisis is Australia’s greatest challenge since World War II. He talks of a threat to national sovereignty and calls on us to show “the Anzac spirit”.
In many respects, it’s a poor comparison. Here, conflict between powers will not bring us any closer to resolution – or the promise of normalcy. There is no distinction in this circumstance between civilian and combatant. In war, battle plans and weapons are developed in secret, but now openness in the form of shared data and scientific effort is the highest priority.’
Yes, true shared data and scientific effort especially from within the WEST!
HOW come the Liberal Coalition fail to grasp that their policies in fact created the threat to Australia’s National Sovereignty …?
In allowing the foreign buyers especially from China, the CCP to buy-up our Property including agricultural, commercial and residential … it appears our biggest EXPORT in fact are our Title Deeds!
The ‘Party’ policies have, it appears, enabled members of the CCP to fly in and buy up our housing, and gain a ‘Permanent Resident Visa’ with the added benefit of Medicare!
-international students, and workers on temporary visas can take jobs to gain a ‘Permanent Resident Visa’
.this has led to high unemployment and underemployment for Australians; prior to Covid-19 at 19.7%
And in October 2018 the Morrison Government exempted (excluded) the Real Estate Gatekeepers from the second tranche of the Anti-Money Laundering Laws …
Australia’s Real Estate is awash with Black Money!
Why are two new Casinos under construction in Sydney …?
-FIRB ruling allows developers to sell 100% of new homes to foreign buyers
-money laundering in our Real Estate accelerated from about 2013
-locking out the Australian First Home Buyer; outbid at auctions
HOW should the Morrison Government address all of this?
-disband the FIRB … stop the foreign sell-out …
–enforce the second tranche of the AML Laws … to restore the domestic housing market for our First Home Buyers …
-and retrieve Australian Standards and Regulations to ensure quality affordable homes are built …
-build homes for the Bushfire victims, and Public Housing!
Would that be an anathema to the Coalition?
‘Aspects of the war metaphor ring true, though. The cost will be enormous, in both human and economic terms, and the young and poor stand to suffer most – unless we are prepared to countenance major economic and social changes on the other side of the health crisis. …
to borrow the words of financier Mark Carnegie, the extent to which we will mortgage our children’s future to protect the health of our ageing parents.’
ASK why does Mark Carnegie, a financier and many other commentators focus purely on the generation divide?
And not include the impact of what appears to many of us as the foreign annexation?
WHAT a pity so many voters failed to grasp the consequences for our Society of the Tim Wilson Franking Credits Roadshow …
It entrenches a subsidy from all taxpayers to share owners.
Search for: ‘How Franking Credits delivered victory to Boomers over their own Kids!’
Through a fear campaign that won the Libs the May 2018 Election
-Franking Credits will soon cost $16Bn
–more than 80% goes to SMSFs larger than $1M
After a six-month hibernation the Morrison Government hopes the economy will recover. Under its strategy it has committed some $200Bn to maintain jobs and businesses.
At the Grattan Institute elimination is called the ‘least-bad endgame’ with the maintenance of social distancing, comprehensive testing and contact tracing.
‘It would also require the sealing of Australia’s borders indefinitely, until other countries manage to eliminate infections – or until there is a vaccine against the virus.’
BUT then … it emerges whose interests are represented …?
‘Overseas tourists aren’t coming anyway, and domestic tourism could fill the gap. It might even give Australia a competitive advantage in attracting students and visitors from China, he said, because that country has also pursued an elimination strategy.’
What the ****!
Leith Van Onselen, Macro Business has written a number of articles to counter the myth that international students are a big export industry …
‘Why are taxpayers subsidising international students?’
AND … ‘Are international students really a $32b export industry?’
‘As the Times also noted, though, this “rally round the flag” response seldom lasts once the immediate crisis passes. Then, pre-existing concerns re-emerge, often amplified by the difficulties of coping with the changes necessary in recovery.
And some of those changes are going to be big and unprecedented. Take population growth, for example. Before Covid-19, Australia was growing by 300,000 to 400,000 people – about the population of Canberra – every year.’
–only about 100,000 was due to “natural” growth – births minus deaths
-migration has stopped, abruptly, and will likely stay largely stopped; because of the disease, and there will not be enough jobs
AGAIN from the Grattan Institute:
“If you look at the sectors that have taken the biggest hit from the public health response … [they are] accommodation and food services, recreation, retail,” she says. “The workers are disproportionately young people, people under 30.”
WHY does this Think Tank overlook the Coalition policies that introduced competition for jobs from Visa workers (the Howard Government), WorkChoices by stealth, the gig economy and the lowest wages growth which collectively havec also locked our Youth out of the housing market?
WHY is this Think Tank now focusing on ‘older generations have grown their wealth … over the past 20 years’?
When the majority may only own a family home? This ‘family home’ now has an inflated value through the inundation and competition from foreign buyers laundering ‘black money’ in our housing market …
IS this organisation now working for the Morrison Government’s next agenda?
Apart from their spotlight on older generations in assuming that all have assets taxed fairly lightly, and that those over 65 on $100,000 a year ‘they’d be paying about half as much income tax as the younger household’ …
WHY isn’t this Think Tank looking to all those individuals who can afford a ‘clever accountant’ to minimise tax?
And businesses that evade paying a fair share of tax as revealed in reports at Michael West including:
‘Australia’s Top 40 Tax Dodgers 2020: fossil fuels dominate once more‘
Mike Seccombe continues …
‘In the wake of this crisis, big changes will happen, regardless of what the government does. More work will be done from home. Fewer meetings will require physical travel, as people attend by virtual means.
There are clear positives to that: less time and fossil fuels wasted in commuting, greater flexibility in working hours – and, of course, less risk of spreading disease.
But there is a downside, too.
An analysis produced by the Centre for Future Work this week found that about 30 per cent of jobs could be performed from home – but those occupations already are paid about 25 per cent more than occupations that cannot be shifted to remote locations. The centre warned that a further shift towards remote working could exacerbate this divide.
Mike elaborates that:
–thenumber of home-delivered meals is through the roof
–delivered by low-paid gig workers
–online shopping has accelerated; with job losses for store workers and store owners
There are pressing issues for the government
‘– the potential collapse of Virgin just one among many – that are pushing the government to consider questions that were unfathomable just weeks ago, such as nationalisation.’ …
‘Then, there remains the issue of how the country will pay for all this.’
Mike then writes that despite all of this the government ‘has said it will not abandon its massive, legislated-but-not-yet-implemented tax cuts, which skew to high-income earners.’
-the unemployment benefit doubled in response to the crisis; slated to go back to previous subpoverty-line level
–nor that the government will correct pre-existing inequities
-nor that it will be looking at personal tax rates, property tax or franking credits, capital gains tax, negative gearing, the taxation of trusts
THE MIN. NUMBER OF MEMBERS EXPECTED TO PASS JOBKEEPER $130 BILLION WAGE SUBSIDY PLAN TODAY
IT is interesting that …
–‘WORKCHOICES’ isn’t dead at all … we have often thought it was lurking in the background … the free marketeers would seize any opportunity to bring it back in a flash
-it’s no myth Sally McManus nailed it, Porter has been under pressure to incorporate bits of ‘W/C’ … the Libs will never give up
-we have had exchanges with their likes … the so-called ‘self made‘ business folk … the only ones to work hard … aka ‘selfish’ immovable primitives fully immersed in the Trickle down economic belief system, social Darwinists and dogmatists.
.their agenda includes removing the Fair Work Act, Fair Work Ombudsman and Awards replacing the system with individual work contracts, removing the word ‘employment’
FROM the perspective of the damage caused to Australian Society … a whole Cohort of Unemployed Australians … through the abuse of the Temporary Visa Worker by employers (introduced by the Howard Govt in the late 1990s – no less!) … keen to exploit their labour with low wages … long hours …
-it has worked both ways … they have come here lured by the opportunity to gain ‘Permanent Residency’
PERHAPS now the Federal Government have got it right on this issue?
-the fact is those unscrupulous employers who have taken advantage of people prepared to work ‘off the books’ are not going to easily claim JOBKEEPER Payments because the employee/s have had to be on the books for 12 months or more!
It’s a bit tricky to somehow invent a paper trail back into previous financial year … gotcha you effing B’s!
FINALLY … they have been forced to recognise a lot of casuals in the workforce are
.being paidcash in hand, off the books, and they have paid no income tax, and no Medicare levy
.a lot of casuals have been paid under award rates
FURTHER, a lot of the 1.2 MILLION VISA WORKERS are included in this cohort
SO excluding them from assistance is for once being consistent …
.should Australia include these people in our assistance packages now if so we would be the only country in the World to do so
.with our unemployment rate to grow to over 6 MILLION (it was 19.7% prior to the CoronaVirus; not the contrived 5.2%)
HOW and why are we expected to fund foreigners here?
.would Australians abroad be treated the same, clearly the answer is no!
Coronavirus JobKeeper support package worth $130 billion set to pass Parliament
Rather, casual employment “has generally been regarded as employment in which there is an absence of entitlement to paid annual leave or sick leave”, according to a guide published by the Australian Parliamentary Library.’
–casual workers receive a higher hourly rate of pay including a casual loading, of an additional 25 per cent
-casuals are entitled to two days of carer’s or compassionate leave per occasion, and 5 days’ unpaid family and domestic violence leave within a 12-month period
How many casuals are there in Australia?
‘As a proportion of all workers in Australia — of which there are around 12.8 million — casual workers make up 20 per cent, or one in five.’
Casual employment over time
Fact Check found that since 1997 around 24 to 25 per cent of all employees were employed on a casual basis, according to ABS data.
-the impact of recession and weakening of unions led the growth of casual employment
-from the 1980s to the mid-1990s workers lost ground over working conditions
-with increase in longer working hours, unpaid overtime and casualisation
-a consequence of two major recessions; weakened unions; decreased workers’ bargaining power
Other workers without leave entitlements
-self-employed Australians also lack the paid-leave entitlements available to employees on part-time or full-time contracts
-with 2.2 million self-employed Australians
-including either owner-manager of incorporated business, or owner-manager of unincorporated business, and include those working in the gig economy, such as Uber drivers
So how many workers don’t have paid leave entitlements?
The ACTU’s claim that 3.3 million Australian workers were without paid leave entitlements is likely an understatement
Characteristics of workers without paid leave
-casual employees likely to be younger; work in the hospitality and retail industries
-most workers without paid leave were in industries “especially vulnerable to shutdown” such as cafes, restaurants and takeaway food services
Australia’s ultra-wealthy population projected to rise by 29%
The number of ultra-wealthy people in Australia is expected to rise by 29% over the next five years, equivalent to an extra 1,085 people, according to Knight Frank’s Wealth Report 2020.
March 03, 2020
The data shows Australia’s ultra-high-net-worth-individual (UHNWI) population will rise to 4,881 by 2024, up from 3,796 in 2019, with more than 200 new ultra-wealthy people being created in Australia each year.
Australia’s ultra-wealthy population grew by 5% in 2019 and by 35% over the past five years.
At the same time, Australia’s high-net-worth-individuals (HNWI) are expected to grow by 34% over the next five years to reach close to 2.1 million. Currently, 50 million people globally are considered millionaires, with wealth of US$1 million or more.
According to Knight Frank’s Head of Residential Research, Australia Michelle Ciesielski, Australia is forecast to have one of the highest rates of growth in UHNWI populations globally over the next five years.
“Australia is ranked equal 15th with Canada for the projected growth in UHNWIs out of 43 countries globally,” she said.
“Our projections are based on The Knight Frank Wealth Sizing Model which allows us to project the number of individuals in each wealth band in the future. We have utilised data including forecast growth in GDP, house prices, equity performance, interest rates and other assets that individuals hold.
“Coming off a number of years of solid growth in Australia, 2019 saw further wealth creation off the back of a resilient stock market and further capital gains in the prime property market.
“Although challenges in the local economy persist, there has been much more certainty and solidifying of the global economy coming into 2020.”
Knight Frank’s Joint National Head of Private Office Sarah Harding said: “On average 80% of Australian UHNWIs saw an increase in wealth in 2019, well above the global average response of 63% in the Knight Frank Attitudes Survey.
“Looking ahead to 2020, 63% of Australian UHNWIs believe their wealth portfolios will continue to grow, which is optimistic when compared to the global average of 55%.
“Australian UHNWIs cite the top three issues challenging wealth creation in 2020 as being the flow on from the global economic slowdown, negative interest rates or bond returns and the global trade wars.
“As a result, 92% of Australian ultra-wealthy population are making changes to protect their wealth.”
According to Ms Ciesielski, “The number of ultra-wealthy people around the world is predicted to grow by 27 per cent over the next five years, with the population rising by 136,087 to just under 650,000. An additional 31,000 UNHWI were created in 2019, an increase of 6.1%.
“Out of the top 20 fastest growing countries presented in the report, six are located in Asia, with India forecast to have the highest growth of 73%.
“We expect Asia will be the world’s second largest wealth hub by 2024, with a forecast five-year growth of 44%, but it will still be only half the size of North America’s ultra-wealthy population, which is forecast to increase by 22%.”