Australia’s unemployment rate is currently at a historically low 4.3%, and the Reserve Bank of Australia’s (RBA) most recent Statement of Monetary Policy predicts that it will continue around this level until the end of 2027. The fundamental reason for Australia’s low unemployment rate is that government spending has resulted in a record increase in
The ferrous complex is stronger in the last week as steel inventory rundowns are finally boosting prices. At least keeping pace with iron ore. Vale is playing games. Brazilian mining company Vale has lowered its forecast for iron ore production in 2026 to 335-345 million tons, according to a company statement. The previous forecast was 340-360
For months, the strong rebound in net permanent and long-term (NPLT) arrivals has pointed to rising immigration and population growth. The latest civilian population data contained in the October labour force release from the Australian Bureau of Statistics (ABS) suggested that population growth has rebounded, alongside the rebound in NPLT arrivals: Wednesday’s Q3 2025 national
The Albanese government is not about to implement a national-interest East Coast gas reservation scheme. It is about to deliver what the LNG cartel itself campaigned for. Cabinet has not signed off on the final details of the reservation scheme, but several senior government sources unauthorised to speak publicly said the government was preparing to
A slowing or deep diving US labour market (not that we would know given the lack of NFP prints) saw a lot more weakness in USD overnight as markets anticipate a full rate cut by the Fed in next week’s meeting. Wall Street continued to edge out higher with European stocks dragged along while Treasuries
DXY is down, down. AUD is up and away. CNY tailwind. Gold tailwind. Metals tailwind. Miners tailwind. EM not so much. Junk looks worried. Yields fell. Stocks firmed. The ADP survey in the US was weak. “Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment,” said Dr. Nela
On Tuesday, I reported on the following chart from Alex Joiner at IFM Investors showing how real non-mining sales of goods and services in Australia have grown by 51% since 2002. However, when adjusted for population growth, real sales have remained flat, growing by just 2% since 2002: The chart highlighted how the Australian economy has
Australia has the highest concentration of international students among major advanced nations. Figures from the Department of Home Affairs show that the approval rate for international student visas fell below 75% in October, compared to 83.6% for the same month in 2024. The decline in approval rates came at the same time as the number
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The post Macro Afternoon: 3 December 2025 appeared first on MacroBusiness.
Only in Australia would an iconic infrastructure company double as a corruption cesspit. Snowy Hydro is a kind of Canberra plaything; a dirty quango without values or direction. It pisses money away like rain on the mountainside, employs proven energy wreckers, and adds tens of billions of unnecessary costs to the energy transition. Let’s take