Immigration into Australia remains hot

The Australian Bureau of Statistics (ABS) released monthly overseas arrivals and departures data for May, which showed that quarterly net long-term and permanent arrivals fell to 97,780, down from April’s record high 155,280 (which was driven by 88,810 net arrivals in February before the start of the university year):

However, annual net long-term and permanent arrivals rose to 323,420 in the year to May, and are catching up to the record high 387,000 net overseas migration recorded in the 2022 calendar year:

Separate monthly temporary visa data to June shows that 449,000 net temporary migrants arrived over the year, which was down from a peak of 469,000 in the year to April:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.