In the second last line of the RBA’s exhaustive forecasts out to December 2027 was their projection for real wage growth in year-on-year terms at 6-month intervals. According to an analysis from Greg Jericho, the policy director at the Centre for Future Work, what they have projected is effectively two separate recessions for real wages
Why are wrongful dismissal claims soaring?…Everyone has a theory. A weakening job market. Artificial intelligence-assisted applications. Greater media attention on the cases leading to greater worker awareness of their rights. Did something break in people’s attitudes during the pandemic that contributed to the increase? Has working from home done something to curdle workplace relationships? A
Canberra is on a charge for the media moguls. Facebook owner Meta would be liable to pay the Australian Taxation Office more than $112 million a year if it fails to strike commercial deals with local publishers under new laws aimed at forcing recalcitrant social media platforms to pay for news. But the tax, which
Australia’s population grew by an extraordinary 8.5 million (45%) over the first 25 years of this century, far exceeding the population growth of other advanced nations. Over the four years from Q1 2021 to Q1 2025, Australia’s population grew by an estraordinary 1.88 million (7.9%)—equivalent to adding an Adelaide and Hobart to the nation’s population.
Amid the frenzy of economists calling rate holds and hikes, Westpac is making the most sense today. The bank argues that after a poorer performance in September, employment was stronger than anticipated in October, resulting in growth on a three-month average that was about ½ppt slower than it was six months prior. Moreover, the unemployment
The Market Ear on when things fall apart. Lower high SPX may be carving out a lower high, not a bullish look. 6800 is the key short-term support in futures; lose that and you’re into the channel lows and 50-day near 6750, with the big 6700 zone right below. Source: LSEG Workspace Momentum loss NASDAQ
In October, Chinese banks made 220bn yuan in new loans, a sharp decline from 1.29 trillion yuan in September. Compared to a year ago, the flow of loans increased 6.5%, a record low. Under the hood, corporate loans fell to 350bn yuan from 1.22 trillion yuan, while household loans, including mortgages, shrank by 360bn yuan
The Australian Bureau of Statistics (ABS) reports that international education is Australia’s fourth-largest export, earning the country $51 billion in 2024. The ABS generates this fantasy “export” figure by summing student visa holders’ spending on tuition fees and goods and services. In 2024-25, the ABS estimated that student visa holders spent $30.2 billion on goods
The Coalition has committed Australia to a one-party state. The Prime Minister said the divisions in the Liberal partyroom were “a sign for the Australian people of … the clown show they’ve become”. The Nationals-inspired Liberal manifesto includes support for a “technology-neutral” Capacity Investment Scheme – rebadging it the Affordable Energy Scheme – providing taxpayer underwriting for
Wall Street had a very rough session overnight as the AI bubble seemed to show signs of instability with domestic economic concerns following the US government shutdown. Tech stocks led the selloff but it extended across all risk markets although currency markets remained largely on their individual trends as the Australian dollar pulled back after