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Employability Training to Become Mandatory for Young Adults

young people

Unemployed young people on the dole will have to participate in compulsory “employability” training as part of the federal government’s youth employment plan.

People under the age of 25 could get a $200 top up to their fortnightly welfare payment if they choose to participate in a business-led internship program.

Its a 3 stage program beginning with 6 weeks of skills training.

Employers will get $1000 for giving unemployed youths work experience and help them a “foot in the door”.

The program would have to be completed within five months of receiving the dole.

Source: https://au.finance.yahoo.com/news/employability-training-compulsory-050713375.html



Did the Advent of Finance Facilitate Democracy?

roman coins

Athens is famous for being the birthplace of modern day democracy but a recent post on TheAtlantic.com questioned whether finance actually gave rise to this democracy.

Athens use to pay its citizens for various civic duties, some say priming them into the mindset that made possible the participatory government.

The article goes on to explain without financial innovation, the “experiment” of democracy may not have been the success it became.

Read more at http://www.theatlantic.com/business/archive/2016/05/athenian-finance-democracy-william-goetzmann/484397/

 



Australia’s First ‘Green’ Bond

solar-rooftops-590x287

Australia has its first green  bond which just made solar heating more affordable.

The Australian based credit finance group FlexiGroup, has made a landmark issue of green Asset Backed Securities, a bond raising $50 million to refinance residential rooftop solar systems in the first issue of their type.

As an article on Reneweconomy.com.au highlighted, the significance of this is great. Rooftop solar can now enter the mainstream bond market in Australia for the first time. It also provides a way of cheaper finance for this and other renewable energy technologies.

Read more at: http://reneweconomy.com.au/2016/rooftop-solar-gets-cheaper-finance-with-first-green-bond-in-australia-82008



Should We Have a Royal Commission into Banks

malcolm turnbullWith the Prime Minister calling a Royal Commission into banking unnecessary, what are the arguments for and against?

In a debate, those arguing in favour of the royal commission say a “clean house” or a cleaning up of the sector could only benefit everyone, so what is the harm ?.

Those opposing the review say a political spotlight is not needed. One of those of this opinion is the Prime Minister as well as banks who are understandably concerned.

Read more at http://www.smh.com.au/business/banking-and-finance/for-and-against-a-royal-commission-into-banks-20160412-go4ed1.html

 



Pay Rises for Top Paying Finance and Accounting Jobs

money

According to a post on Afr.com, top paying finance and accounting jobs can expect an increase of between 5 and 8 per cent when they move jobs. This is according to recruiter Robert Half.

Robert Half says most job seekers in the accounting and finance sectors will be fortunate if they get any pay rise when job hopping because finance companies are leaner today than they were when the global financial crisis hit.

Read more at: http://www.afr.com/business/accounting/best-paid-finance-accounting-jobs-also-get-the-pay-rises-20160403-gnxg7g#ixzz45XCHcpZT 

 



Financial Services Royal Commission if Labor Wins

financeIf Labor wins the next election, we can expect a royal commission into the financial services industry.

The announcement has started a fierce political fight over the wrongdoing in the financial services sector between the Coalition and Labor.

Mr Shorten and Mr Bowen speaking at a press conference held in Melbourne recently said that the first 100 days of office if they won would involve considering and compiling terms of reference for a royal commission.  Read more at: http://www.smh.com.au/business/banking-and-finance/labor-calls-for-royal-commission-into-finance-20160407-go1dnr.html#ixzz45X8vnahz 

 

 

 



Financial Week Ahead and Impact on Jobs

training

According to the latest financial reports, job growth is solid in Australia and is expected to remain so.

Economists are positive about the future of employment with 15,000 new jobs being added in March.

There has also been an increase in the  number of people looking for a job, which may increase unemployment figures from February’s 5.8 per cent.

The Reserve Bank will publish its semi-annual Financial Stability Review (FSR) on Friday. Find out more at: http://www.abc.net.au/news/2016-04-10/focus-on-chinese-growth,-australian-jobs-and-us-profits/7314086



Accountants Called in to Train Next Gen Private Equity Leaders

trainingAn accounting firm has reached an agreement with the Australian Private Equity and Venture Capital Association (AVCAL) to train future venture capitalists.

Through the partnership, the accounting company Crowe Horwath agreed to provide foundation level private equity education to AVCAL members. The ‘Private Equity 101’ program has been described as critical to the industry.

In an article on MoneyManagement.com.au the importance of the program was discussed, preparing the next generation of leaders for the industry also helping them foster strong networks for the duration of their career.

Find out more at http://www.moneymanagement.com.au/news/accounting/accountants-called-train-next-gen-private-equity-leaders



High Wage Increase no Good for Australian Youth, ACCI Warns

min wageThe Australian Chamber of Commerce and Industry (ACCI) has urged the Fair Work Commission to increase the minimum wage by no more than 1.2 per cent or $7.90 per week which would make the minimum weekly wage $664.80.

Thousands of unemployed Australians, most of them young people will be disadvantaged if the minimum wage is raised too high, the ACCI explained.

The peak body has called for a more “job-friendly” approach to the minimum wage to avoid impeding access to jobs or training opportunities.

Youth unemployment is at 12.2 per cent, which is twice the national unemployment rate of 5.8 per cent.

The Fair Work Commission’s decision on the new minimum wage will come into effect from July 1.

Find out more at https://au.finance.yahoo.com/news/wage-increase-no-good-youth-011951097.html



Federal Government Considering Audit of Training Providers

moneyThe federal government is considering an audit of training providers to crack down on rorting of the $1.6 billion VET FEE-HELP loans scheme by inflating course fees.

Evidence recently emerged of pricing disparity between fee-for-service and VET FEE HELP courses offered by a number of RTOs (Registered Training Organisations) in the country.

Taxpayers are having to fork out up to 400 per cent premiums to foot the bill to training companies with government loans, with many of them never being repaid.

Since the deregulation of the VET FEE-HELP scheme, we’ve seen a huge increase in for-profit, private education providers as well as a decline in quality across the industry. Completion rates for students are terrible with around 7 per cent completing their course.

Source: http://www.news.com.au




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