Blogotariat

The number of people working multiple jobs and the percentage of employed people having more than one job reached record highs in the June quarter of 2023, according to new data released by the Australian Bureau of Statistics (ABS): At the end of June 2023, there were 958,600 multiple job-holders (6.7% of employed people). Young

The post Desperate Aussies work multiple jobs amid cost of living squeeze appeared first on MacroBusiness.

Trump’s Crowded Legal Calendar Leaves Judges to Juggle Court DatesSince it's not reasonable to expect any defendant – let alone a former president – to juggle court appearances in five different locations, who gets to go first?

By Susan Milligan

Republican presidential candidate Donald Trump is running for his life. But the myriad indictments against him might out-pace him as he seeks to become president again.

Former RBA researcher turned chief economist at the Centre for Independent Studies (CIS) tweeted the below on Thursday suggesting those wanting the government to run a lower (historical) immigration program to ease housing pressures are “misanthropes” that dislike migrants: Tulip was comprehensively demolished by more than 50 comments accusing Peter Tulip of resorting to a

The post Peter Tulip beats immigration straw man appeared first on MacroBusiness.

The May federal budget projected that Australia’s net overseas migration (NOM) would grow by a record 400,000 in 2022-23, followed by 315,000 NOM in 2023-24: In turn, Australia’s population was projected in the budget to grow by 524,000 in 2022-23 followed by 455,000 growth in 2023-24: Immigration influencer, Abul Rizvi, regularly derides others for lacking

The post Abul Rizvi stakes reputation on population numbers appeared first on MacroBusiness.

The median dwelling price in Sydney has risen to 13.3 times the median income, while 35.3% of renters are estimated to be in housing stress. Accordingly, CEO of the developer lobby the Committee for Sydney, Eamon Waterford, says the level of housing stress requires a major rethink from politicians and the public. The Committee’s research

The post YIMBY housing solution lacks evidence appeared first on MacroBusiness.

Cronyism, or the Game of Mates as we call it Downunder, is an endemic risk in the Australian political economy. Owing to the culture of mateship and populism, and one of the world’s least complex economies, Australia is more at risk than most to corruption and special favours economics. Cronyism was rife through much of

The post Qantas crashes into Albo’s Cronystralia appeared first on MacroBusiness.

I explained on Thursday how Australian households have been financially “wrecked” by soaring interest rates, soaring rents, and plummeting real wages. Real per capita household disposable income fell by 0.2% over the year to June 2023, which drove a 0.3% decrease in real per capita GDP over the same period: This reduction in spending occurred

The post Aussie households suffer record income collapse appeared first on MacroBusiness.

No change to the stimulus outlook in China. Goldman: Easing measures are gradually coming through. Given persistent growth headwinds and dampened sentiment on negative headlines of private developers / trust companies, the PBOC surprised the market with a policy rate cut in mid-August. Policymakers also released a slew of easing measures over the last two

The post Iron ore gives way appeared first on MacroBusiness.

Why on earth would we do this? Anthony Albanese will be the first prime minister to visit China in seven years after formally accepting an invitation to travel to ­Beijing this year, as the arrival of a high-level delegation boosted ­expectations the ruling Communist Party will soon lift sanctions on Australian wine. Meeting delegates in

The post National humiliation complete as Albo crawls to Beijing appeared first on MacroBusiness.

My latest in Inside Story

Fears about the impact of increasing longevity haven’t aged well

John Quiggin 4 September 2023 1690 words

Wrong assumption: treasurer Jim Chalmers launching this year’s Intergenerational Report at the National Press Club of Australia last month. Lukas Coch/AAP Image

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Ben is joined by Paul Kildea and Andre Brett to discuss the history of Australian referendums. We discuss the historical origins of referendums at both the state and federal level, the dynamics of referendum campaigns, how different states tend to vote, the voters’ bias towards the status quo, and discuss some of our favourite referendums.

Ukraine is closer than ever to joining NATO, Secretary General Jens Stoltenberg has claimed, adding that Russia “cannot veto” Kiev’s future membership.

The NATO chief made the comments on Thursday at the European Parliament, where he briefed MEPs on cooperation between the US-led military bloc and the EU. Stoltenberg insisted that the two sides “share the same values [and] the same challenges.”

CoreLogic’s daily dwelling values index, which measures price changes across the five major capital city markets, rose another 0.22% in the week ended 7 September. That was the 27th consecutive weekly increase in dwelling values: This week’s rise was broad-based, with four of the major capitals recording rises of 0.2% or more: Over the latest

The post Australia’s “baffling” house price recovery appeared first on MacroBusiness.