Australian households have endured the sharpest decline in per capita disposable incomes on record. Since peaking in Q2 2022, real per capita household disposable income has declined by around 8%. The chart below shows real per capita household disposable income in a long-term historical context. The February Statement of Monetary Policy (SoMP) contains forecasts on
President Trump and Volodymyr Zelensky have become embroiled in a war of words a day after the Russia-US meeting in Riyadh focusing on Ukraine. Trump slammed Zelensky over his refusal to hold elections, saying he's down to "4% approval" and that Ukraine looks like a "massive demolition site" under his leadership. He's not wrong. Here's why.
Didn’t Make Peace
Victoria has the nation’s largest per capita debt and the lowest credit rating. According to the recent budget update, Victoria’s net debt increased from $36 billion to $155 billion in the last decade. The state’s net debt is forecast to increase to $187 billion over the three years to 2026-27. The bloating of Victoria’s public
The post Victoria to slash bloated public service appeared first on MacroBusiness.
We didn’t take a holiday over Christmas so we’ve been on the road this week catching up on some downtime. Currently we’re hanging in Sydney, but we also did a couple of days in Newcastle, where Jane used to work, and broke the trip at the half way point on the first day, overnighting on a farm in Bellingen.
The strength of Australia’s labour market was the biggest factor working against an interest rate cut at Tuesday’s Reserve Bank of Australia (RBA) monetary policy meeting. It was also the biggest upside risk highlighted in the RBA’s statement on the decision. On Wednesday, the Australian Bureau of Statistics (ABS) released the Q4 2024 wage price
As Westpac illustrates, the RBA’s wage fgrowth outlook is ridiculous. In the December quarter, the Wage Price Index (WPI) rose 0.7% which at three decimal places was just 0.654%, a whisker off rounding down to 0.6%. This result is going to make it much harder for the RBA to achieve their June 2025 forecast of
The post Major banks trash RBA wages outlook appeared first on MacroBusiness.
Intelligence officials have disrupted numerous attempts by hostile countries to kill or harm critics in Australia, and in one recent operation even thwarted a plot to lure an unsuspecting human rights activist overseas, who was to be silenced in an "accident".
In late 2023, ABC Fact Check caught Treasurer Jim Chalmers “misleading” about the growth in Australian full-time earnings. In August 2024 and November 2024, Treasurer Chalmers was again caught misleading voters about Australian wages. On Wednesday, the Australian Bureau of Statistics (ABS) released the wage price index for Q4 2024, which showed that wages grew
The Australian Population Research Institute (TAPRI) has released its latest survey on voter attitudes, which shows that the overwhelming majority do not support recent high levels of immigration or a Big Australia. Only 11% of the electorate support the current high migration settings. The question on immigration began with this preamble: Since Australia’s borders were
DXY is up again as King Trump romps hither and thither. AUD eased. Lead boots ahoy! Commods yawn. Miners smashed. EM pause. Junk hope. Yields stall. Stocks ATH. The court of King Trump is a circus. President Donald Trump issued his most direct threat yet to Volodymyr Zelenskiy, saying the Ukrainian president had “better move