Blogotariat

I reported on Thursday how 48,000 New Zealand citizens left the country in the year to November 2024. Statistics New Zealand noted a provisional annual net migration loss of 30,100 people to Australia. The loss of Kiwis to Australia reflects, at least in part, the diverging labour market outcomes. Australia’s unemployment rate was only 3.9% in

The post Record number of Kiwis escaped to Australia appeared first on MacroBusiness.

I never bet on employment reports. It is too flaky. But here’s Goldman’s take on the NFP. We estimate nonfarm payrolls rose by 190k in January, above consensus of +170k … We assume that the Los Angeles wildfires and colder-than-usual weather will each subtract 20k from January job growth. … We estimate that the unemployment

The post US jobs preview appeared first on MacroBusiness.

In pulling support for the CQ-H2 green ammonia export project, Queensland’s LNP has chosen tantrum over trade, politics over partnership, ideology over economic sense.

Victoria is the most indebted state in Australia and has the lowest credit rating. Victoria’s debt is projected to soar in the years ahead, likely resulting in further credit rating downgrades. When this happens, interest payments will soar, driving up costs for Victorians and resulting in higher taxes and less money for infrastructure and services.

The post Victorian budget sinks into funding black hole appeared first on MacroBusiness.

There’s just nothing good about it. Literally nothing. Everybody has lost money. IEEFA with the report.  Queensland marked 10 years as an LNG exporter in January 2025, and has emerged as a key supplier of LNG, primarily to China. Besides boosting Australia’s energy trade with Asia’s largest economy, the industry has left a legacy of higher

The post Everybody has lost money on East Coast gas appeared first on MacroBusiness.

The Market Ear on the Retail Army. Shorts gone Short Interest as a % share of share outstanding at depressed levels. Source: JPM Needs a bigger chart Retail sentiment at new all time highs… Source: JPM Is this time different? So are the AI leaders in a “winners’ curse” situation reminiscent of telcos in 2000,

The post The bubble inflates appeared first on MacroBusiness.

Justin Fabo from Antipodean Macro has published interesting charts from the latest NAB Business Survey showing that Australian firms continue to experience high labour shortages. Nearly half of Australian firms—close to a record high—claim that labour availability is a “minor” constraint on output. A further one-third of firms report that it is a “significant” constraint

CoreLogic’s daily dwelling values index continues to fall, dragged lower by Sydney and Melbourne. Values at the 5-city aggregate level fell by 0.2% over the past 28 days and have been underwater since October 2024, declining by 0.8% over that period. Melbourne continues to lead the decline, with values down 0.5% over the past 28

The post Australian house prices slowly bleed out appeared first on MacroBusiness.

On Thursday, I presented data showing that real Australian wages have fallen by 10.3% since the Q2 2020 peak and were tracking at late 2021 levels as of Q3 2024 (latest available data). This calculation was derived by deflating the Australian Bureau of Statistics (ABS) wage price index with the employer cost-of-living index. Separate data

The post Why Australian households are hurting appeared first on MacroBusiness.

I read a lot of crazy health and fitness content so you don’t have to, and some recent crazy advice has been to avoid caffeine in the morning.

US President Donald Trump’s envoy to Ukraine and Russia, Keith Kellogg, has brushed aside Kiev’s demand for nuclear weaponry, stating that it is “not going to happen.”

Kellogg made the remarks on Thursday while speaking to Fox News Digital. He was asked about the latest call by Vladimir Zelensky for “nuclear weapons” and “missile systems” from Kiev’s Western backers.

DXY is holding on. AUD paused. Lead boots too. I’m surprised the “Gaza Coast” development and Iran sanctions didn’t lift oil. Dirt meh. Miners popping finally. EM meh. Junk firm. Yields too. Stocks up. Trump’s “Gaza Coast” development is not relevant to Australia, so it is no surprise it was shrugged off. I am a

The post Australian dollar shrugs off “Gaza Coast” appeared first on MacroBusiness.

While the big China threat remains AI platform DeepSeek, The Australian reminds us that the true “evil” is Canberra not doing anything about China’s threat to national security, and Nine Newspapers remind us that LNP politicians taking money from rich Chinese-Australians are good, while their benefactors are likely up to no good.