How OSHA Is Trying to Catch Up
Automation in the Construction Industry
Weekly Grind: Biggest Construction Award Winners and New Equipment to Hit the Market
Smart Buildings Continue Their Rise in 2018
Friday Funny: The Productivity Placebo
U.S. Home Construction Jumps nearly 10 percent in January
Seattle Eyes Taller, Denser in Affordable Housing Proposal
Trump's Plan to Rebuild US Roads Relies on Local Dollars
By Australian associated Press
September 19, 2017
New data released by the Australian Bureau of Statistics showed that the national economy added more jobs than expected in August, with 54,200 new jobs added to the national total.
It is the most substantial increase in nearly two years.
Queensland and South Australia recorded the largest drops in unemployment both falling from a 6.2 percent seasonally adjusted unemployment rate to 5.7 percent.
However, the overall uptick in labour force numbers has kept the national unemployment rate unchanged at 5.6 per cent and is likely to keep wages growth flat and limit the Reserve Bank's ability to move on rates, economists said.
Economists said the quarterly ABS data, also due out this month, is likely to show strength in a number of key industries such as construction, professional services, and health.
While employment is now increasing at an annual rate of 2.7 per cent, the participation rate, or the number of people either employed or actively looking for work, also ticked up 0.2 percentage points to 65.3 per cent - the highest level since September, 2012.
That increased labour supply is expected to weigh on wages and inflation growth.
"Despite the solid jobs growth, we think that we are still some way from labour market slack being eroded sufficiently to put genuine upward pressure on wages," CBA senior economist Gareth Aird said.
Australia's jobs market has seen an acceleration in full-time job creation over the past six months but wages growth has remained weak, raising concerns about an impact on consumer spending.
Economists expect wages growth will eventually accelerate as a result of continued strength in employment.
Deloitte Access Economics economist Chris Richardson described it as "good news story".
"Our wage growth will eventually pick up as well," he told AAP.
AAP DISCLAIMER AND COPYRIGHT NOTICE
AAP content is owned by or licensed to Australian Associated Press Pty Limited and is copyright protected. AAP content is published on an “as is” basis for personal use only and must not be copied, republished, rewritten, resold or redistributed, whether by caching, framing or similar means, without AAP’s prior written permission. AAP and its licensors are not liable for any loss, through negligence or otherwise, resulting from errors or omissions in or reliance on AAP content. The globe symbol and “AAP” are registered trade marks.
What's Killing Your Knowledge Retention?
Ever wonder what’s the difference between a general contractor and construction manager? Well, you’re not alone! To help clear up any confusion, we’ve broken down the roles and responsibilities of ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
Pete says that Procore quickly breaks down the complicated pieces of data in his jobs, and presents them to the end user in a digestible format. "T... Read More
Hear Brad Hyatt, Associate Professor at California State University Fresno, discuss what students are learning in school to prepare them for const... Read More
Construction has always had a somewhat complicated relationship with technology. Over the last few decades there have been improvements in material... Read More
J. Colin Cagney, a director, KPMG Major Projects Advisory, knows that while most companies want to use data analytics to increase, they’re often no... Read More
Congress has passed the final version of the federal tax reform bill, and it will soon head to President Donald Trump to be signed into law. The qu... Read More
January 9, 2018