Solid Jobs Growth, Rates To Rise
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There was & #160;nothing in yesterday's March jobs figures that & #160;would cause the Reserve Bank to change its mind on the future direction of interest rates.And, as the bank has sent heavy signals that there are more rate rises to come to help control inflation in 2011 and 2012 as the resources boom gathers strength, then we will get more increases in the cash rate.The unemployment rate was steady at 5.3% and 30,100 new jobs were created, with that gross figure trimmed by the loss of 10,600 part time positions, itself a natural development for a strengthening labour market.That left a net gain of 19,600 jobs for the month, about what market forecasts had predicted.February's jobs figures was revised up to a gain of 4,700.It was the & #160;seventh consecutive month Australia has seen a rise in the number of & #160;full-time jobs.The number of people unemployed increased in March, up 4,200 people to 619,100, the ABS reported & #160;with a fall in the number of people looking for full time work offset by a larger rise in the number of people looking for part time employment.The ABS seasonally adjusted monthly aggregate hours worked series showed a fall in March, down 10.0 million hours to 1,541.2 million hours. & #160;That fall of 0.6% came after the very large 2.4% rise in February, which had been the biggest rise recorded. & #160;The number of hours worked in march was still more than for any month in 2009.The labour force grew 2.1% in the year to March.And since August, Australian employers have added & #160;214,900 jobs.The steady unemployment rate compares to & #160;9.7% in the US in March and & #160;10% in February among European Union countries, the highest rate since August 1998.In its November economic forecasts, the Federal Government said the unemployment rate would 6.5% in June.That will be cut in the new forecasts that will accompany the 2010-11Federal Budget next month. & #160;
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Daniel Kertcher established Platinum Pursuits in 2001 as a vehicle in which to share his knowledge of strategies to use the financial markets to grow wealth, with the aim of achieving financial freedom by making your money work for you.
His argument is that until you become financially literate and develop a method where you're able to get a reasonable return on your capital (i.e. making your money work for you), you will instead be forever working hard for your money.
Daniel Kertcher personally achieved financial freedom at a relatively young age, through his knowledge of property and then financial markets investing. Through using Options and leveraged instruments such as CFDs, Daniel developed a system to trade the markets where he could benefit from the leverage when the trade went in the direction he predicted, and hedged his positions so that there was a limited downside risk.
Some people in the past have criticised Daniel's message of striving for financial freedom in a high-risk environment such as trading derivatives. However, it is not Daniel's or Platinum Pursuits' goal to encourage everyone to trade the financial markets. Every kind of investing contains an element of risk, so this level of education is aimed specifically for those who want an understanding of professional trading techniques and strategies that they hope to apply to their own capital, and it is absolutely true that many people are not yet in a position to invest a chunk of their savings.
To be truly financially literate, it can pay to explore all the options available when you are in a position to try to get ahead in life. Daniel currently presents free introductory seminars nationally on selected dates from February to November. |
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