Of the news on prices, wages, interest rates and unemployment, only the unemployment update looks set to be positive for the Coalition.
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Crawford School of Public Policy, Australian National University
Crawford School of Public Policy at The Australian National University is Asia and the Pacific’s leading graduate public policy school. Crawford School is home to influential publications including the journal Asia and the Pacific Policy Studies, and publications such as East Asia Forum, Dev Policy Blog, Policy Forum, Solutions, and Advance.
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You might be surprised to know that many unemployed Australians are not on unemployment benefits. And then came COVID – which saw a big shift in how many people were able and willing to claim.
Even with the latest small increase, JobSeeker remains low by overseas standards – and, on one measure, it’s the lowest in the OECD.
Two key economic indicators are the key to predicting most of the past 120 years of federal elections results – including ones the polls have famously got wrong.
While everyone’s talking about Anthony Albanese’s campaign stumble, the more extraordinary thing is that unemployment is actually set to fall below 4%. A 60-year low of 3% is now within sight.
More than twice as many economists in the Economic Society of Australia poll picked “climate and the environment” as the most important election issue as picked housing, health, tax, or education.
Australian retirees die with most of the super they had when they finished work. There’s a measure in the budget that threatens to entrench that.
The budget forecasts and unemployment numbers show Josh Frydenberg’s COVID support spending has paid dividends.
Almost half of The Conversation’s panel of top economists support cutting Australia’s budget deficit. But many lament the bigger deficit they expect on budget night: a vision for beyond the election.
Enormous price rises beyond Australia’s control are cutting our standard of living. Cutting it further by rising rates won’t help.
Australia could use about 7,000 terawatt-hours of solar and wind generation per annum to make a sizeable contribution to cutting global emissions – about 27 times its current electricity output.
The government has held out the promise of a cut in petrol tax, and New Zealand has delivered one. There are better ways to help.
Australia has finally opened the regulatory doors to offshore wind farms. What do we need to do to make the roll out fast and build supply chains?
The West broke an implicit contract when it denied Russia access to its foreign reserves on February 27. It’s hard to see a way back.
Can the Ukrainians hold on long enough that the economic costs to Russia become unsustainable?
Estimates suggest a 10% jump in the price of petrol pushes down demand for petrol 3%. In the past 14 months, the price has jumped 50%.
Denying Russia’s central bank access to its offshore reserves threatens hyperinflation, a recession and massive unemployment.
The low and middle income tax offset keeps getting extended because to end it would be to deliver a tax hike. But it was designed for a purpose that no longer exists.
One third of the economists surveyed say Australia’s migration target should be lifted to 190,000 per year. Another third say 190,000 is not enough.
Unemployment is far lower than predicted and isn’t setting off the kind of inflation seen in the United States. There’s no telling how much lower it can go.
Authors
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Visiting Fellow and Director – Micro heterogeneity and Macroeconomic Performance program, Crawford School of Public Policy, Australian National University
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Professor, Crawford School of Public Policy, Australian National University
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Research Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Professor of Public Policy, Crawford School of Public Policy, Australian National University
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Professor, Crawford School of Public Policy, Australian National University
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Economist, Crawford School of Public Policy, Australian National University
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Peter Whiteford is a Friend of The Conversation.
Professor, Crawford School of Public Policy, Australian National University
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Australian Laureate Professor, Crawford School of Public Policy, Australian National University
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Professor of Economics, Crawford School of Public Policy, Australian National University
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Adjunct Professor, Crawford School of Public Policy, Australian National University
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Professor of Economics and Director, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Professor in the practice of public policy and antitrust, Crawford School of Public Policy, Australian National University
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Visiting Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Distinguished Professor of Economics and Public Policy, ANU Centre for Applied Macroeconomic Analysis (CAMA), Crawford School of Public Policy, Australian National University
