Last week, CBA economist Harry Ottley reported on the quarterly labour market account from the Australian Bureau of Statistics (ABS), which showed that 60% of the nation’s job growth since the beginning of the pandemic has come from the non-market (government-aligned) sector. Over the past two years, the non-market sector accounted for 80% of jobs created.
Wind generated power now comprises a substantial proportion of Australia’s electricity supply. As of September 2024, Australia had an installed wind capacity of approximately 13.3 GW. Wind power accounted for 13.4% (or 31.9 TWh) of Australia’s total electricity generation in 2024. The Albanese government aims to generate 82% of Australia’s electricity by 2030 from renewable
The Market Ear with the charts. Teflon tech NASDAQ getting overbought, but things can stay overbought for longer than most think possible, especially when the golden cross is in place… We outlined the melt up logic early this week and pointed out the fact investors are running way too little risk. Underexposure remains an issue
Victoria’s financial situation is dire, as projections indicate that the state’s debt will increase from $155.5 billion to $194 billion by FY29. Victoria’s per capita debt, already the highest in the nation, is projected to rise from $21,900 currently to $25,500 in FY29. Ratings agencies have warned that they will downgrade Victoria’s credit rating, which is
According to the ABS, Australia continues to experience unprecedented labour demand. The problem is that the index is the worst available. Private measures are far below and heading back into the lowflation period. Goldman explains the ABS rubbish measure: Structural trends such as lower advertisement costs and a shift to more temporary positions tend to
As the risks of a downward glide path for elements of China’s industrial economy continues to become clear, the risks for Australia’s economy and in particular state and federal Treasury outlooks are becoming increasingly apparent. So far the hole left in China’s iron ore consumption left by the dramatic decline in the residential property sector
Global reflation ahoy! DXY down. AUD up. Lead boots up. Gold’s stall is signalling DXY may be running out of downside soon. Metals reflation. Miners up for a day. EM breaks out. Junk breaks out. Yields melting down. Stocks melting up. Buy all the things. Except DXY and European stocks, apparently. The market loved the
There’s no greater example of the disconnect of stock markets with economic reality with Wall Street surging overnight to almost historic highs on the back of a worsening Q1 GDP print and signs that Q2 will show the number 1 economy is in a full recession. What is reflecting reality are currency markets with the
Credit ratings agency S&P notes that the combined budget deficits of Australia’s state and federal governments total $52 billion, while the net debt now exceeds 60% of the country’s GDP. This equates to a per capita deficit of $1,897 and a net debt of $45,183 per capita. Meanwhile, the combined net debt of the federal,
When the pandemic arrived on Australia’s shores in early 2020, housing was already unaffordable for a majority of households, as illustrated by falling homeownership rates and declining rates of household formation. But like the joke that a Russian family friend used to describe his nation’s history, the events that would unfold for Australia’s housing market