Australia’s inflation data for the March quarter suggests the central bank will impose one or two further increases to meet its policy objectives.
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The pandemic has changed economic thinking on how low the unemployment rate can go. We now need a new full employment target.
Australia’s employment growth is slowing, but the ups and downs from month to month make it hard say what happens next.
Victoria’s real gross state product has grown by 5.6%, while New South Wales has fallen to 1.8%.
For homebuyers, there’s no interest rate relief in sight just yet. Here’s why.
Australia’s first major time-use survey since 2006 shows unpaid domestic and caring responsibilities are still principally done by women.
Australia’s economy grew unusually strongly in the year to June, when interest rate increases were yet to bite.
The big increases quoted are for “asking rents”. The rents paid by existing renters are climbing more slowly.
ANU modeling suggests 80% of households face living cost increases below the inflation rate of 6.1%.
Australia has its lowest unemployment rates in almost 50 years – helped along by high numbers of employees off work sick.
India is now the third-largest birthplace of Australian residents behind Australia and England, while for the first time less than half of the population has identified as Christian.
The concept of unemployment and an unemployment rate is fairly new, dating back to the end of the second world war. It’s increasingly unfit for purpose.
New figures show economic growth edged closer back towards normal in the months to March, but the gains went to profits rather than wages.
The share of the population in work has hit an all-time high as the share of the workforce underemployed has hit a 14-year low. The fresh low in unemployment will bring higher interest rates, and perhaps higher wages.
Why raise rates now, for the first time in more than a decade? If the Reserve Bank isn’t careful, too many more rate hikes like this might help bring on a recession.
Inflation is well outside the Reserve Bank’s target band and higher than it has been for two decades.
Of the news on prices, wages, interest rates and unemployment, only the unemployment update looks set to be positive for the Coalition.
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 the government’s pledge of 1.3 million extra jobs might not be enough to keep unemployment below 4%. The pledge ought to be the unemployment rate itself.
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.
Top contributors
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John Hawkins is a Friend of The Conversation.Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
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Professor of Economics, The University of Melbourne
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professor of Economics and Public Policy, ANU College of Arts and Social Sciences, Australian National University
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Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), Australian National University
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Professor of Economics, UNSW Sydney
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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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Professor of Economics, University of Canberra
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Economist at Centre of Policy Studies, Victoria University
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Professorial Fellow, University of Canberra
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Professorial Fellow and Deputy Director (Research), HILDA Survey, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne
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Associate Professor, Bankwest Curtin Economics Centre, Curtin University
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Professor, Department of Economics, The University of Melbourne
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Senior Lecturer, Australian National Centre for the Public Awareness of Science, Australian National University
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Professor of Urban and Regional Planning, University of Sydney
