Job loss threat to Australia boom
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Australia's economy loses jobs for the third month out of four - news which could spell trouble for the country's strong growth.
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The unemployment rate leaps to a two-year high, record numbers of people are forced from their homes and Wall Street nose-dives again. Such is the fallout from a housing meltdown that threatens to slingshot the country into a recession.
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SYDNEY (Dow Jones)--Housing demand may be on the rise again after a hiatus of half a year, bringing with it significant pressure on the Reserve Bank of Australia to raise interest rates.
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A number of HR staff at investment bank ABN Amro are to lose their jobs as part of a cull of 2,850 employees at the group. About 1,100 jobs will go in investment banking, 1,200 will be lost in IT and 550 will go in HR, the company announced today.
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Australia said on Sunday it was relaxing its migration program to allow more skilled workers into the country where the jobless rate is at a three-decade low and most companies face a labor shortage.
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The signs of labor unrest seen over the weekend may be a harbinger of things to come in an industry already buffeted by bankruptcies and structural change.
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A demand for workers outpaced big losses from the unwinding of the housing boom and a slowing economy.
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A Labor Department report showed that the economy lost 4,000 jobs in August, the first drop in 4 years, suggesting that turmoil in the financial markets could be spreading.
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SYDNEY: Australian Prime Minister John Howard, under fire over his credibility ahead of an election expected within months, on Saturday identified interest rates and industrial relations as key election issues.
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JUST as polling booths closed in WA last night, senior Labor figures had conceded they would not win the election. Labor frontbencher Bob McMullan said Labor would lose the election if the voting trend continued.
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A THREAT by up to 4800 Customs officers to walk off the job for 24 hours this week could throw Australia&#39;s international airports into chaos.
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Australia is bracing itself for a renewed round of conservative reform following Prime Minister John Howard&#39;s fourth election victory, handing him power not enjoyed by any Government for more than two decades.
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East Timor is likely to face an upsurge in anti-government protests and civil unrest this week, Australia warned in a travel advisory.
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Qantas could move as many as 7,000 jobs overseas to save costs, according to The Australian newspaper.
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Economists have hailed a long-awaited turnaround in Australia's export performance but warned the worst drought in a century was likely to offset any positive impact on economic growth.
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Campaigning was never going to be easy for opposition Labor Party leader Mark Latham: an Australian economy into its 13th year of expansion, interest rates at their lowest in 30 years, inflation in check an close race likely to be decided in just a
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SYDNEY : Prime Minister John Howard&#39;s election campaign received a last-minute boost as new unemployment figures showed a larger than expected fall in the number of jobless, two days before an election he has fought on his economic record.