Australian Economy

The non-market sector, which comprises primarily government-funded jobs in the public service, healthcare, social assistance, and education industries, has accounted for 67% of the growth in filled jobs since the first quarter of 2023.

Australia consistently ranks among the highest in the world for household wealth.

For many Australians, their first introduction to economics comes in high school, often in a Business Studies class, where they learn the basics of commerce, such as supply and demand.

A new Senate inquiry, led by Senator Fatima Payman, is investigating why many Australian university graduates are struggling to find work despite completing degrees.

Australia is obviously facing a renewed inflation shock driven by soaring petrol and diesel prices.

It doesn’t usually make much sense to think of a central bank in terms of good and evil.

As Albo cowards fiddle, Australia is facing a worsening diesel shortage that is beginning to disrupt multiple parts of the economy.

Amidst an environment increasingly defined by crisis-driven reality smacking policymakers in the face, the failure of decades of Australian policymakers to prepare a resilient energy security policy is being laid bare.

The Australian Bureau of Statistics (ABS) released monthly CPI inflation data for February, which obviously pre-dates the Middle Eastern energy shock.

Despite Australia’s geographical isolation, its fuel reserves are extraordinarily low by international standards, averaging approximately 30 days’ worth of petrol, diesel, and aviation fuel. Worse, around 90% of Australia’s refined fuels are imported. The International Energy Agency (IEA) mandates that members maintain 90 days of net crude reserves.

Former NSW Senior Trade and Investment Commissioner Mike Newman appeared on John Anderson’s podcast, where he argued convincingly that Australia’s bureaucracy is excessively large compared with other advanced economies.

Since the Middle East conflict kicked off at the end of February, there has understandably been a great deal of focus on how the war, the throttling of traffic through the Strait of Hormuz and potential fuel shortages will impact the Australian economy.

Wasn’t it only last week that we had enough fuel?

Lowest since 1973.

On face value, Australia’s labour market is in a solid position.

Goldman Sachs analyst Joseph Briggs recently contended that artificial intelligence could potentially automate tasks that account for 25% of all work hours in the US and 6% to 7% of all jobs.

I argued last week that the Reserve Bank of Australia’s (RBA) current tightening cycle mirrors the 2007–08 hikes before the 2008 Global Financial Crisis (GFC), when the RBA kept hiking even as the US subprime crisis was unfolding.

The modern telecoms market is undergoing large-scale transformation processes, which are associated with the active implementation of new digital solutions.

This week, the Australian Treasury released monthly and quarterly data showing that net migration into Australia has rebounded and remains at historically high levels: The following chart shows that in the first 3.25 years of the Albanese government, NOM averaged a whopping 1,145.

The chart below of US manufacturing jobs may become very important.

Author Mark Twain once famously said, “History doesn’t repeat itself, but it often rhymes”.