Post by Cullyn Of Cerrmor on Jan 4, 2009 8:57:17 GMT 9.5
Gillard asks bosses not to cut staff
John Mangan | January 4, 2009
ACTING Prime Minister Julia Gillard has pleaded with the nation's bosses to think carefully and take the long-term view when considering sacking employees because of this year's economic downturn.
Despite economists gloomily predicting unemployment to hit 6.4 per cent by the end of the year as well as forecasting growth to slow to 0.7 per cent, the sharemarket is set to surge tomorrow after a new year rally on Wall Street on Friday.
The Australian dollar is also enjoying a revival, rising to 70.59 US cents.
"The Government has said that we understand that the loss of even one job has human consequences, for the person who's lost their job, for their family and for the economy," Ms Gillard said in Melbourne yesterday.
"We also understand that employers around the country view their staff as their most valuable asset. My message to employers today would be to think about the long term when they are contemplating potential job cuts in 2009."
Her plea comes as eminent economists - surveyed by The Age newspaper - predicted that the budget, under strain from spending to maintain a floor under household consumption and business investment, will slide into deficit to the tune of $1.4 billion this financial year and $8.5 billion in 2009-10.
Federal Treasurer Wayne Swan said the Government would do whatever it took to "pump-prime" the economy, including borrowing or further stimulus measures if necessary.
"We will do everything within our power to protect growth, households and business investment," he said in an interview with The Age. "The Prime Minister [Kevin Rudd] and I have said all options are on the table."
Wall Street surged on Friday - the Dow Jones Industrial Average rose nearly 3 per cent to finish at 9034 points - backing US President-elect Barack Obama's measures to revive the economy.
Commsec chief economist Craig James said Wall Street investors felt the worst was behind them.
"People are saying, well, 2008 is done with. Now we've got 2009, we've got a new president, we're going to have a significant stimulus package in the US, a lot of the bad news is out of the way," he said.
Ms Gillard said the Government's $10.4 billion economic security statement last year, and the $6 billion package to support the car industry, were investments to support employment.
"The Government will continue to act in 2009 as necessary to protect jobs and to invest in jobs," she said.
She also further expressed the Australian Government's "very deep concern" about the resumption of violence in Gaza, reiterating a New Year's Day pledge to make $5 million of humanitarian aid available to provide access to basic food and medical supplies for people in Gaza.
John Mangan | January 4, 2009
ACTING Prime Minister Julia Gillard has pleaded with the nation's bosses to think carefully and take the long-term view when considering sacking employees because of this year's economic downturn.
Despite economists gloomily predicting unemployment to hit 6.4 per cent by the end of the year as well as forecasting growth to slow to 0.7 per cent, the sharemarket is set to surge tomorrow after a new year rally on Wall Street on Friday.
The Australian dollar is also enjoying a revival, rising to 70.59 US cents.
"The Government has said that we understand that the loss of even one job has human consequences, for the person who's lost their job, for their family and for the economy," Ms Gillard said in Melbourne yesterday.
"We also understand that employers around the country view their staff as their most valuable asset. My message to employers today would be to think about the long term when they are contemplating potential job cuts in 2009."
Her plea comes as eminent economists - surveyed by The Age newspaper - predicted that the budget, under strain from spending to maintain a floor under household consumption and business investment, will slide into deficit to the tune of $1.4 billion this financial year and $8.5 billion in 2009-10.
Federal Treasurer Wayne Swan said the Government would do whatever it took to "pump-prime" the economy, including borrowing or further stimulus measures if necessary.
"We will do everything within our power to protect growth, households and business investment," he said in an interview with The Age. "The Prime Minister [Kevin Rudd] and I have said all options are on the table."
Wall Street surged on Friday - the Dow Jones Industrial Average rose nearly 3 per cent to finish at 9034 points - backing US President-elect Barack Obama's measures to revive the economy.
Commsec chief economist Craig James said Wall Street investors felt the worst was behind them.
"People are saying, well, 2008 is done with. Now we've got 2009, we've got a new president, we're going to have a significant stimulus package in the US, a lot of the bad news is out of the way," he said.
Ms Gillard said the Government's $10.4 billion economic security statement last year, and the $6 billion package to support the car industry, were investments to support employment.
"The Government will continue to act in 2009 as necessary to protect jobs and to invest in jobs," she said.
She also further expressed the Australian Government's "very deep concern" about the resumption of violence in Gaza, reiterating a New Year's Day pledge to make $5 million of humanitarian aid available to provide access to basic food and medical supplies for people in Gaza.