The purpose of this monthly report is to provide you with an opportunity to better understand recent news at both a macro & micro level, to understand topical trends covered in the media around the economy and the contingent workforce - both locally & globally, and to discuss how these may impact business in Australia and New Zealand.

1. A CXC Global Knowledge Initiative
Monthly Media Brief
Employment | The Economy | Contract Work
June 2015

2. Introduction
The purpose of this monthly report is to provide you with an opportunity to
better understand recent news at both a macro & micro level, to
understand topical trends covered in the media both locally & globally, and
to discuss how these may impact business in A/NZ.
1

3. THE ECONOMY
Below, a summary of the coverage around the economic outlook for
Australia for the period: 4 June 2015 – 17 June 2015.
.

4. The Economy
AUDremainssteady
Consumerconfidencefell
sharplyinJune,reversing
post-budgetgains
Businessconfidenceisup,
theeconomyishealing,asa
furtherratecutunlikely
Declineinmining
investmentwillcontinue,
andpotentiallyaccelerate
ConsumerSentimentlowest
sinceJune2015unwinding
theboostinMaywhichis
beingattributedtotheratecut
Consumer
confidence
Decline
Other components:
• dwelling approvals
• commodity prices
• US industrial
production
• hours worked were
flat as was the
ASX in May
(posting material
declines in early
June)

5. Infrastructure spending
needs to be stepped up, for
Australia to experience long-
term growth. The economy
isn’t at the speed the
government or analysts had
hoped for
Greece and its creditors
hardened their stances on
Monday after the collapse of
talks aimed at preventing a
default and possible euro exit,
prompting Germany's EU
commissioner to say the time
had come to prepare for a
"state of emergency"
Financial services big
bonuses are back: 41%
saying their bonus was
higher compared to last
year. 11% said their bonus
was significantly higher
while 30% received a
‘higher’ bonus
Conversations around
abolition of stamp duty have
resurfaced, in light of the
booming housing markets in
Sydney & Melbourne.
Alternatives for an
expanded GST or increased
land tax are also under
discussion
Threat

6. Pension reform:
expected to pass
Parliament 16th June
NSW: $9B infrastructure
project – Sydney Metro
(light rail)

7. JOBS OUTLOOK
Below, a summary of the coverage around jobs outlook for
Australia for the period: 4 June 2015 – 17 June 2015.

8. Jobs Outlook
Job ads rose in May compared
with the same month last year.
Job Ads Rise
1
But month-on-month job ads fell
by 3.1%, partially reversing the
4.7% gain from April.
Month-on-Month Ads Fall
2
Non-mining states recording the
biggest increase in job ads,
reflecting improving trends for
the non-mining economy.
More Jobs in Non-Mining States
3

9. CONTINGENT
WORKFORCE
COVERAGE

10. US GAO
(Government
Accountability Office)
More discussion now around the need for
governments to remain up-to-date with these changes
as current legislation is deemed insufficient and not
keeping up with the tally of independent workers.
This article references Government’s data – which
isn’t remaining abreast of the real tally of workers in
the US. In reference to the ‘gig economy’,
In summary, there’s a lot that isn’t known about the
non-permanent segments of the workforce
In the US, the ‘big economic problem no one is talking
about’ hamstringing the economy outside of poor wage
growth and swelling ranks of long-term unemployed
The march towards 40% of America’s jobs being
‘contingent’ is getting closer – and describe these jobs
as not particularly secure, and are made up of
positions that require employees to work on contracts,
on-call, or as independent contractors

11. Sources
Economy & Jobs:
1. Consumer sentiment low http://bit.ly/1JWTcdJ
2. Mixed business outlook http://bit.ly/1JWTj9j
3. Financial Services: Big bonuses are back http://bit.ly/1dJsMQl
4. AUD remains steady http://bit.ly/1eQaf5U and http://bit.ly/1JWT9P3
5. Infrastructure growth http://bit.ly/1JWT4ed
6. Greece, RBA http://bit.ly/1dJsKrM
7. Stamp duty & land tax http://bit.ly/1JWV3PR
8. Pension reform http://bit.ly/1TsCZkR
9. Sydney Metro (light rail) http://bit.ly/1TsD5cq
10. Job ads flat but increasing in non-mining states http://bit.ly/1TsDxr0
11. Job ads remain flat http://bit.ly/1TsDNX7
Contract Work:
1. Flexpert Careers http://bit.ly/1TsEfVo
2. US policy makers not ready for the ‘gig economy’ http://bit.ly/1TsE6B5
3. Big economic problem no one is talking about http://bit.ly/1InET35
4. Increasing acceptance of contract workers in the US http://bit.ly/1TsEwrm
5. Beeline Plugin http://bit.ly/1TsFxzq
6. STP Payroll http://bit.ly/1FlMU0Q

12. Contact CXC Global Level 6, 9 Hunter St Sydney NSW 2000Address:
Phone:
Web:
E-mail:
+61 1300 724 082
cxcglobal.com.au
info@cxcglobal.com.au