I don't understand why pollies are wasting crucial time in debating whether we are in recession or not. You don't have to be genius to figure out that we are already in recession and we have been in recession for past 6 months.
What we are seeing now is fall out of recession. The recent media coverage about drop in online job ads is one such fall out. The Oliver job index which claims to record the number of jobs advertised online states that there have been big falls in advertisement numbers for jobs in the trades, services, transport, engineering, building and construction sectors.
I'm not an expert like Oliver Group but I've been checking online jobs for past 6 months in retail sector in which I've considerable experience and I can tell you that the situation there is pretty bad. We all know that Retail employs most Australians and it also happens to be one of the low income sectors.
Now do your own calculations. We are in a situation where the lowest paid are loosing jobs and the number of new jobs that are coming up are far less then what it use to be.
I clearly remember Mid 2007 when I was looking to recruit people and it was bloody hard as there were so many opportunities that employees were hopping from one job to another because they were not scared. They knew that even if they leave one job they can find the next easily. I also clearly remember that seek.com.au which is considered one of the biggest online job search website had its profit and share prices up.
But look what is happening now? You don't have to believe in what I'm saying. Just search seek or mycareer or whatever else you use and you will know what I'm talking about.
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