Job security

Jan 18, 2010

Q. How concerned are you that you or some member of your immediate family will lose their job in the next year or so: very concerned, somewhat concerned, or not at all concerned?

  16 Feb 09 27 Apr 09 8 Jun 09 6 Jul 09 31 Aug 09 5 Oct 09 18 Jan 10
Total concerned 62% 67% 52% 56% 53% 49% 45%
Very concerned 22% 24% 13% 15% 18% 14% 12%
Somewhat concerned 40% 43% 39% 41% 35% 35% 33%
Not at all concerned 29% 23% 35% 32% 37% 40% 40%
Don’t know 4% 5% 6% 6% 5% 6% 8%
No employees in the immediate family 5% 5% 8% 6% 5% 5% 8%

 45% of people are very/somewhat concerned that they or a member of their immediate family will lose their job in the next year or so, 40% are not concerned at all.  This is the lowest level of concern regarding job loss that has been recorded in the Essential Report since we began tracking this question in February 2009.   

 Females were more likely than males to be very/somewhat concerned over job loss (47% v 41%).

People in part-time work were more likely than those in full-time work to be concerned over job loss (55% v 45%).

Coalition voters were more likely than Labor voters to be very/somewhat concerned (52% v 43%).  Comments »

Concern Regarding National Economic Issues

Nov 16, 2009

Q. How concerned are you personally about each of the following economic issues facing Australia today?

The issues that most people are very concerned about include food prices and inflation generally (55%), jobs going overseas (49%) and executive salaries (48%).   A significant number of people are very concerned about petrol and energy prices (45%) and affordability of housing (41%).

Coalition voters were more likely to be very concerned about food prices and inflation generally (60%), jobs going overseas (57%) and Government debt (54%).  Labor voters were more likely to be very concerned about executive wages (54%) and improving wages for low income earners (32%).

Females were more likely than males to be very concerned on most issues, in particular food prices and inflation generally (66% v 45%), improving wages for low income earners (34% v 22%) and unemployment (33% v 25%).

Comments »

Management of Economic Issues

Nov 16, 2009

Q. Between Liberal and Labor, which party do you think would be best at managing each of the following issues?

When it comes to which party is best at handling economic issues, Labor leads the Liberal party on managing the improvement of wages for low income earners (+17%), executive salaries (+9%) and the age pension (+9%).

Labor trails the Liberals in terms of managing government debt (-24%), followed by managing interest rates (-9%) and superannuation (-9%).

Perception of which party is best at managing the economic issues listed followed party lines.

Comments »

Interest Rate Rises – Personal Impact

Nov 9, 2009

Q. Will the recent increase in official interest rates make you personally better or worse off financially?

%
Total better off 15%
Total worse off 41%
Much better off 2%
A little better off 13%
A little worse off 31%
Much worse off 10%
Make no difference 40%
Don’t know 4%

41% of people think that the recent increase in official interest rates make them worse off personally, 15% think the interest rate increase will make them better off and 40% think it will make no difference to their personal financial situation.

People aged 55 years and over were more likely to indicate that the increase in official interest rates will make them better off (36%) while middle aged people were more likely to indicate that it will make them worse off (53% of 25 – 34 year olds, 54% of 35 – 44 year olds).

People in full-time work were more likely to indicate that the interest rate increase will make them worse off (55%).

Perception that the rise in interest rates will make people worse off increased with salary – 46% of people earning $600 – $1000 per week/46% of those earning $1000 – $1600 per week and 49% of those earning $1600+ per week think it will make them worse off.  55% of those earning $600 per week or less think the interest rate increase will make no difference to their personal financial situation.

Comments »

Interest Rate Rises and the Economy

Nov 9, 2009

Q. Do you think the recent increase in official interest rates indicates that Australia’s economy is getting better or getting worse?

%
Economy is getting better 53%
Economy is getting worse 12%
Neither 28%
Don’t know 7%

Just over half (53%) think the recent increase in official interest rates indicates that Australia’s economy is getting better, 12% think it is an indication that the economy is getting worse and 28% think it is not a sign that the economy is getting better or worse.

Labor voters were more likely to think the interest rate rise is a sign that the economy is getting better (61%), while Coalition voters were a little more likely than the average to think that it is a sign that the economy is getting worse (18%).  48% of Coalition voters think that the recent interest rate increase is a sign that the economy is getting better.

Comments »

Cause of Interest Rate Rises

Nov 9, 2009

Q. Which of the following statements most closely reflects your opinion on the cause of the recent increase in official interest rates?

%
The Reserve Bank independently sets interest rates to avoid inflation 30%
It’s just a correction to the historic low interest rates during the Global Financial Crisis 18%
The Federal Government has managed the economy well and the rate increase is a sign of a strong economy 15%
The Federal Government has managed the economy badly and so rates are rising 9%
The world economy is the biggest factor in interest rates, not the Australian economy 9%
House prices are rising and pushing up interest rates 5%
Don’t know 15%

When it comes to what the public perceive are the causes of the recent increase in official interest rates, 30% think that the Reserve Bank independently sets interest rates to avoid inflation and 18% think that interest rate rises are a correction to the historic low interest rates during the Global Financial Crisis.  15% think that the Federal Government has managed the economy well and the rate increase is a sign of a strong economy.

Only 9% think it is because the Government has managed the economy badly.

Coalition voters were more likely to think that the Reserve Bank independently setting interest rates to avoid inflation is the cause of the recent increase in interest rates (39%).  Labor voters were more likely to think the increase in interest rates is because the Federal Government has managed the economy well and the rate increase is a sign of a strong economy (28%).  Green voters were more likely to think the recent interest rate rises are just a correction to the historic low interest rates during the Global Financial Crisis (24%).

Comments »

Economic Conditions in Australia

Nov 9, 2009

Q. Over the next 12 months do you think economic conditions in Australia will get better, get worse or stay much the same?

Just over half (53%) think that over the next 12 months, economic conditions in Australia will get better, 23% think they will get worse and 21% think they will stay much the same.

The number of people that think economic conditions in Australia will get better over the next 12 months has decreased thirteen percentage points since we last asked this question in October this year, and the number that think economic conditions will get worse has increased eight percentage points.  However, the current results are very similar to the August survey results and considerably more positive than results recorded up to June.

Labor voters were more likely to think economic conditions will get better (65%), Coalition voters were more likely to think they will get worse (30%) and Green voters were more likely to think conditions will stay much the same (34%).

People earning $1600 per week or more were more likely to think economic conditions will get better (60%), while people earning $600 – $1000 per week were more likely to think they will get worse (32%).

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