The Prime Minister is back from his annual hols and has jumped up before the cameras with the cry We're all in this together! in his Australia Day reception speech.
"This is a difficult time, and in the short term there is no quick fix.
Things will get worse before they get better.That is where all of us – not just government – have a role in lessening the effects of the crisis.
We are all in this together: business, unions, governments, the community sector – and every nation in the world.In these times, employers must do their utmost to protect their workers from dismissal, knowing that these workers will serve them well when times turn good again.
Workers, too, must restrain any wage claims."
No, Rudders, we are not all in this together.
The Aussie banks and their boards, mines and their multinational owners, top CEOs across the country, big national businesses, kings of the racing world, those with inherited wealth, and many more citizens with large salary packages, are not standing shoulder-to-shoulder with anyone. Unless it's with a pollie or two they think may send a cash injection or tax cut their way (look at who's complaining about your fiscal stimulus package and getting ready to close an outlet if you don't believe me).
So don't give me that guff about wage restraint being a strategy to lessen the effect of the global financial crisis.
It's only a strategy which will be used to increase the personal profits of many of the big employers.
Why? Because the bottom line is that most employers still secretly feel that they are paying workers money for jam and that no unskilled or semi-skilled worker deserves more that a pittance wage.
As for small business owners (especially in some parts of the NSW North Coast) they seem to believe that workers should pay their employers for the privilege of having a job.
And I'm not the only one saying so. Get the picture, mate?
Poll results for Tuesday 20 January 2009 in the mid-afternoon.
Update later in the morning:
The Australian reports that Kevin Rudd has given pay rises to two of his top advisors through bonus payments. "With superannuation and overtime added to salaries, principal advisers earn close to $250,000 in annual income." and therefore are already well paid. It seems Kev thinks that there is one rule for his 'friends' and another for the checkout chicks of this world. The former get to live life as usual, the latter get to fund the national recession fightback.
Commencing between 7am and 10 am Tuesday 20 January 2009 on the American east coast and around 3am Wednesday Australian EST, many sites will be covering the inauguration of Barack Obama as the 44th President of the United States of America.First up, the change in Full Time job numbers. The seasonally adjusted point estimate suggested that 43,900 full time jobs were lost between November and December of 08. We can be nearly 100% confident that the 43,900 figure that is getting so much attention isn't actually true.
What we can say is that there is a 95% probability that the true change in full time job numbers was somewhere between a gain of 6300 full time jobs and a loss of 94100 jobs, for the margin or error attached to the 43900 full time job loss figure is a whopping 50200. .....
On the trend figures, the unemployment rate remained steady at 4.4%, full time employment dropped by 11,200 nationally and total employment increased by 2000.
Far from this being a terrible result requiring widespread bouts of wrist slashing – in the broader scheme of things and considering the state of the international economy, it's probably a remarkably good result. I say 'probably' because we must acknowledge the large uncertainty involved in the figures - the point estimates really aren't the gospel they are too often made out to be.
What happens in the future is unknowable, things might tank, things might not - but what we should all be aware of is just how much uncertainty is actually contained in these figures.
Of course it would be too optimistic to hope that Malcolm Turnbull and friends would approach these figures with a degree of calm.
Over at Liberal Party headquarters they were shouting out that there will be More Than Half A Million Australians Out Of Work and waxing lyrical about the Howard years.
While Access Economics (in attention getting language aimed at front page media coverage) is predicting 300,000 jobs will be lost in the next twelve months, but also appears to be predicting modest national growth by 2009-10.
By late last night Channel 10 News had hysterically taken the figure higher to a million unemployed
Think I'll place my trust in Poss and wait for more concrete figures to come in over the next year. Access Economics director Chris Richardson now cries Wolf! so often that I no longer find his media announcments all that credible.
