Peter Martin, Crawford School of Public Policy, Australian National University
Asked how high an inflation rate Australia should prepare to tolerate, three of the 48 economists nominated 8% or higher. Seven expected inflation to fall without the need for further action.
Politics with Michelle Grattan: Tony Burke advocates on wages and arts
Michelle Grattan speaks with Tony Burke the minister for employment and workplace relations and minister for the arts, as well as the leader of the House of Representatives.
True wages growth, and true price growth, is probably less than the official figures suggest – meaning there’s no need for alarm about inflation in Australia.
Peter Martin, Crawford School of Public Policy, Australian National University
Only five of the 56 economists surveyed believed lower immigration would boost wage growth. The rest backed measures to lift productivity and investment and changes that boosted the power of unions.
An examination of 80,000 enterprise bargaining agreements finds that on average 80% of each increase in compulsory super has been at the expense of wages.
Peter Martin, Crawford School of Public Policy, Australian National University
The Conversation’s 2020 economic survey points to a dismal year, with no progress on many of the key measures that matter for Australians and an increase in the unemployment rate.
The forecast for Australia’s economic growth in 2019-20 has been cut by 0.25%, and the projected surplus for this financial year slashed by A$2.1 billion.
The Conversation
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update.
The Conversation, CC BY29.7 MB(download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
Professorial Fellow and Deputy Director (Research), HILDA Survey, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne