Business News

Thu Jul 14

Senator Michaelia Cash releases Labour June force figures

Written by Senator Cash Media Release

Labour force figures released today by the ABS show that despite the seasonally adjusted unemployment rate rising slightly to 5.8 per cent in June 2016, the fundamentals of the Australian economy remain strong and the economy continues to create jobs.

Seasonally adjusted employment increased by 7,900 in June 2016, to a record high of 11,939,600, and is 225,000 (or 1.9 per cent) above the level recorded a year ago. This remains above the long-term trend growth rate of 1.7 per cent.

Encouragingly, today’s ABS data reveals very strong growth in full time employment, rising by 38,400 to stand at 8,198,900.

The labour force participation rate increased marginally over the month, to stand at 64.9 per cent, indicating there are more Australians actively looking for work.

Minister for Employment, Senator the Hon Michaelia Cash said today’s labour force data demonstrates the resilience of the Australian economy in the face of significant international uncertainty and turbulence, as well as the need to stay the course and deliver a comprehensive economic plan.

“Today’s data shows that since the Coalition came to office in September 2013, there have been 472,500 jobs created in the Australian economy,” Minister Cash said.

“In recent months there have been significant international events which have created turbulence and a level of economic instability, whether in terms of headwinds in China or the uncertainty created around Brexit.”

“Despite this, the Australian economy continues to create jobs and demonstrates encouraging resilience.”

“Total employment has reached a record high, as has the number of total females employed – these are very positive indicators of a strong economy and something all Australians can be proud of.”

“The Government acknowledges that ABS labour force figures can be volatile however today’s data clearly reflects a robust Australian labour market while also highlighting the need to continue with the Coalition’s comprehensive plan to strengthen the economy and stimulate further jobs growth.”

“The Government has been elected on the promise to implement a plan for jobs and growth and that is exactly what we will do.”

“In the years ahead Australia will face economic challenges and it is therefore incumbent on the Government to implement policies to grow our economy and deliver the framework to facilitate the creation of stable, long term jobs. Only the Coalition presented such a plan at the last election and the Australian people have clearly endorsed this approach.”

Mon Jul 11

Manheim invests heavily in its Sydney operations

Written by Mathew McAuley

As one of Australia’s largest automotive and industrial auctioneers, Manheim has been operating out of their Moorebank property since 1994.

Since that time the company has been leasing the premises however as a sign of their continued investment in the Australian marketplace, the firm has just completed the purchase of the land and buildings at 144 Moorebank Avenue, Moorebank.

Manheim provides auctioneering and logistics services for a wide variety of customers across the state. With a growing number of vehicles, trucks, machinery and other assets being auctioned to increasingly larger crowds every week, the company has moved to secure their future at the Moorebank site in order to cater for the increased business demand.

Campbell Jones, CEO of Manheim said, “The purchase of the 35,000sqm site at Moorebank reflects the success of our business and our commitment to our operations in Sydney. The purchase gives us certainty in our tenancy and will allow us to invest in upgrading our facility with a strategic, long term view”.

Manheim hold weekly public vehicle auctions offering buyers a wide range of vehicles to choose from, with over 400 cars, 4WD’s and light commercials available at auction each week. Each month Manheim also hold public Truck and Machinery auctions which feature a wide range of stock such as earthmoving equipment, trucks and trailers, buses and farm machinery.

Campbell continued, “Backed by the continued investment of our parent company, Cox Automotive, we look forward to a number of site improvements in both the short and the long term now we own the property.”

About Manheim

Manheim is one of Australia’s leading automotive and industrial auctioneer, with over 55 years of experience in providing a vibrant market place that brings together buyers and sellers of cars, trucks, machinery, and general plant and equipment.

Manheim provides a total logistics solution for vehicle remarketing, for a wide variety of clients such as state and local governments, major vehicle manufacturers and importers, fleet lease and rental companies, the insurance industry, financial institutions and corporate sellers. Members of the public are also welcome to use our services, both as buyers and sellers of used vehicles.

Globally, Manheim handle approximately 8 million vehicles per annum, facilitating transactions worth over 40 billion dollars. The company is a fully owned subsidiary of Cox Automotive, the world’s largest automotive services company. The operations in Australia are backed by the huge resources of Cox Automotive, who have more than 120 remarketing facilities worldwide and a presence on every continent.

About Cox Automotive (www.coxautoinc.com)

Cox Automotive, Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Manheim®, Autotrader®, Kelley Blue Book®, Dealertrack®, vAuto®, Xtime®, NextGear Capital® and a host of other brands.

The global company has nearly 30,000 team members in more than 200 locations worldwide.

Cox Automotive is a subsidiary of Cox Enterprises, Inc., an Atlanta-based company with revenues of more than $17 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.