Australian Jobless Rate Dips
Against all expectations, unemployment actually receded in November to 5.2% from October’s 5.4% reading.
According to ABS figures, total employment rose 13,900 in the month to 11.5 million, bringing the unemployment rate to a three month low. That movement was made up by full-time employment falling by 4,200 to 8.132 million in November and part-time employment rising 18,100 to 3.414 million.
The surprise result reads very well following a solid economic growth reading on Wednesday and a 0.25% rate cut the day before that.
While global economic concerns remain, particularly in relation to the US fiscal cliff, manufacturing has bounced back in key regions and the optimists think once again we may be turning the economic corner.
Markets Green, But Apple’s Orange
The Australian dollar rose further overnight as European and US markets ended in the green.
However tech king Apple was slammed to the tune of 6.43% to close at $538.79, and is now down some 23% from its record high earlier this year above $700.
No specific reason caused the slide, however some tech analysts say the company has lost its all important edge in innovation as is being punished for this.
One company not suffering such problems is ClickView, who was anointed Australia’s most innovative company in this week’s BRW innovation awards.
Obama The World’s Most Powerful Person
For the second year in a row US President Barrack Obama has been crowned the world’s most powerful person by Forbes magazine.
“Obama remains the commander in chief of the world's greatest military and head of the sole economic and cultural superpower - literally the leader of the free world," Forbes said.
German Chancellor Angela Merkel was a close second, with Russian President Vladimir Putin third, Microsoft founder Bill Gates fourth, and Pope Benedict XVI, leader of the world's 1.2 billion Catholics, ranked fifth.
Facebook CEO Mark Zuckerberg dropped to 25th from 9th in last year's ranking because Facebook's float this year was a dud, Forbes said.
A flight attendant was stationed at the departure gate to check tickets. As a man approached, she extended her hand for the ticket and he opened his trench coat and flashed her.
Without missing a beat, she said, “Sir, I need to see your ticket not your stub.”
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