Australia’s ‘miracle’ labour market has been living in somewhat of a fool’s paradise. A boom in government-funded jobs has driven Australia’s strong job growth and historically low unemployment rate. The non-market sector, which comprises public and private service providers that rely on government funding, has accounted for 60% of total job creation since the pandemic
By Harry Ottley, economist at CBA The unemployment rate rose to 4.3% in an otherwise quiet week locally. Next week is quiet again. The RBA minutes and a speech from RBA Governor Bullock will garner the most attention. The calendar offshore is also extremely light, with CPI in NZ and the ECB policy decision the
DXY faded Friday night. AUD was stable. The bif short is, like, permanent. Lead boots going downhill. Commods flew as DXY paused. Big mining bear steel counter-rallying. EM looks more like yesteryear. Junk OK. As yields eased. Stocks flat. Goldman is modestly bearish on AUD as the RBA is run over by its own stupidity.
Dear Millie Muroi. Greetings from the people of Macrobusiness. We know you are the young up-and-coming economics commentator in the mainstream media at Nine, and we really do hope that you have a long and distinguished career in Australia’s media. We understand if the only things you may have heard about Macrobusiness are not all
If you are curious about the differences in methodology between myself and the usual auction data providers, there is an explanation down the page. After last week’s strong performance from the Sydney auction results, it’s strongest since June 2023, it appeared increasingly likely that the Sydney market was set for a boom. This week
Independent performance tables to 30 June are in, and the AFR has listed the best‑performing large super funds. Our flagship MB Growth fund finished near the very top with a 12.1 % return for FY‑25¹. We’re proud of the outcome, but prouder still of how we achieved it. What made the difference? Driver Our positioning Why it
When the latest Q4 2024 net overseas migration figures were released by the ABS in June, they revealed that annual rolling net migration had fallen to 340,800. While this represented a significant reduction from the peak of 555,800 recorded in Q3 2023, it remained significantly higher than the 250,000 initially forecast by the federal Treasury.
International Reading: Student-loan borrowers are at high risk if Trump dismantles the Department of Education, 11 organizations told Elizabeth Warren – Business Insider Texas ranks as No. 1 state with the most people in financial distress – Dallas Culture Map The number of first-time homebuyers is plummeting. Why that’s bad news for the US economy.
Most share markets in Asia are lifting going into the final trading session of the week although Japanese bourses are cautious given the domestic election this weekend and the concern over inflation after today’s June print. Meanwhile speculation is rising that the Fed will cut rates at the next FOMC meeting with currency markets selling
The economy must suffer, and workers in particular, because the Reserve Bank of Australia will not, under any circumstances, mention immigration. And so, it carries on like a pork chop about the risk of rising wages; when it is not fighting 620k unemployed, it is fighting 50 million unemployed in India, or 350% unemployment. There