CBA goes contra on Economic Growth expectations

[Rolf Latham]

Hiya

CBA is in the process of reviewing its loan serviceing criteria where overtime and bonuses are involved.

In most cases, under current policy theywould allow 100 of this if continutiy could be demonstrated

Due to increasing under employment in the workforce CBA are reducing that component to a maximum of 50 %.

I find it interesting that in a market where the employment growth is quite strong according to gov statistics, those whose business it is to assess the risk side of that equation show clear disagreement with those stats.

Anecdotally, I see a lot of clients that are struggling to get a 35 hr plus week together unless they are in some form of profession or trade. A typical supermarket worker gets 28 hrs on a casual roster. The gov stats say that person is fully employed.

ta
rolf

 

[Pablo]

I understand this, at my work you could previously work 7 days a week (and there were those that did this for years) but this has completely dried up now. No overtime has been offered for the last 1 1/2 years

 

[willfong]

What about regular allowance for extra duty such as being on call after hours? It's a consistent amount every fortnight and not dependent on the actual extra hours worked. Do they classify that the same as overtime?

 

[PeterC]

better having people working 30hr a week than 2/3 working 45 and the rest out of a job

 

[Player]

better having people working 30hr a week than 2/3 working 45 and the rest out of a job

Agree.

Better to tighten the belt a notch or two, than to lose the trousers altogether

 

[Ausprop]

when microsoft was a backyard operation they said computers would do all the work and we wouldn't have to work, yet we are working longer hours than ever. IT has complicated our lives, the more we produce/consume the harder we have to work. we are mice on a treadmill.