Employers now find it much easier to find workers, particularly those with lower skill levels, according to the most recent recruitment data from Jobs & Skills Australia. As illustrated below by Justin Fabo of Antipodean Macro, the percentage of workers reporting difficulty obtaining employment has returned to pre-pandemic levels. Lower-skilled workers are plentiful, whereas higher-skilled
A sea of red across Asian share markets with the rough start to the trading week continuing as a wider risk off tone deepens, all mainly due to tech stock volatility. The absence of bad economic news is not helping as markets start to pivot to the series of central bank meetings and tonight’s double
Tonight I will be appearing on DFA Live with Martin North from 8.00pm AEST, where we will discuss everything to do with the housing market and economy. The YouTube feed is below. I hope to see you there.
The post Join me tonight on DFA Live with Martin North appeared first on MacroBusiness.
The S&P Global Flash Australia PMI was released, reporting the “softest expansion in private sector output in seven months” in December: The key points are as follows: Flash Australia Composite PMI Output Index: 51.1 (Nov: 52.6) Flash Australia Services PMI Business Activity Index: 51.0 (Nov: 52.8) Flash Australia Manufacturing PMI: 52.2 (Nov: 51.6) Flash Australia
Gold measured in Australian dollars has more than doubled since 2023: This is during a period of relatively calm valuation in AUD vs USD with a 10% dip that has now recovered back to 2023 levels: Of course Bitcoin and other crypto inventions have quadrupled over the same time period, but their future is a
I reported last week on how increases in tobacco excise have resulted in a significant decline in Australia’s tobacco excise revenue. While illegal cigarettes are easily accessible and cost about $15 a pack, a legal packet of cigarettes now costs about $50 (tax and excise account for about $34). The Australian Bureau of Statistics (ABS)
The monthly Westpac consumer sentiment index has been released, which has snapped back into pessimistic territory after last month’s aberration, falling 9% over the month to be sitting below levels seen in August and September. Consumers are increasingly worried about interest rates, inflation, and family finances, though labour market expectations remain stable. The main index
The recent Canadian federal budget revealed that migration levels are expected to remain dramatically below pre-COVID levels across the entire forward estimates. Under the Carney government’s migration policy, the share of the Canadian population made up by temporary visa holders is to be reduced from a peak of 7.5% to 5% by the end of
In recent times, senior members of the Albanese government, such as Treasurer Jim Chalmers and Housing Minister Clare O’Neil, have argued that housing supply growth is either improving significantly or is rapidly heading in that direction. While it’s true that dwelling investment has increased in dollar terms, it hasn’t translated into increased dwelling completions, as
Former senior immigration department bureaucrat Abul Rizvi loves to place the racism/xenophobia card against anybody arguing for lower, sustainable levels of immigration (for example, see here, here, here, and here). On Friday, Tarric Brooker posted the following factual chart on Twitter (X), stating that net permanent & long-term (NPLT) arrivals hit a record high in