Blogotariat

Western Australia’s borders will remain closed indefinitely, after Premier Mark McGowan abandoned his plan to reopen in a late night press conference. McGowan said with the “game changer” of Omicron wreaking havoc interstate, he has been forced to delay the planned 5 February reopening: “Unfortunately, the world changed in December; Omicron arrived”… “Omicron is a

The post WA seals itself off from Australia appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

DXY is firming again as EUR wilts: AUD was firm across the board: Oil was also firm: Base metals are threatening to blow off: Big miners stalled: EM stocks did better: And junk: Thanks to an evening of bear flattening: Which cut stocks some slack: Westpac has the data wrap: Event Wrap US existing home

The post Australian dollar lifts with RBA bets appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Yesterday’s employment report from the Australian Bureau of Statistics (ABS) revealed that Australia’s youth are benefitting greatly from negative immigration: Total youth jobs rose by 40,500 in December, comprising a 29,300 increase in part-time jobs and a 11,200 increase in full-time jobs: The youth unemployment rate dived by 1.5% to 9.4% and is now 2.8%

The post Immigration collapse ends youth jobs depression appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Global Macro / Markets / Investing: Taxing extreme wealth could lift 2.3 billion people out of poverty – CNN Fed to raise rates three times this year to tame unruly inflation – Reuters Bitcoin Futures Markets Signaling Volatility Ahead – Valkyrie Cryptocurrency Federal Reserve is in ‘deep trouble’ over ‘disaster’ balance sheet – Fox Business ‘Black

The post Links 21 January 2022 appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

In 2015, the Climate Change Authority recommended emissions reduction targets for the government to take to the Paris climate conference: a 2025 target of 30 per cent below 2000 levels further reductions by 2030 of 40 to 60 per cent below 2000 levels In response, Labor proposed an emissions reduction target of 45% below 2005…

The post After the seven hottest years on record, Labor lessens its climate ambition appeared first on The AIM Network.

A fun and often useful way of getting perspective on events from what seems like the relatively recent past is to take the time interval between those events and the present, then count back an equal time into the past [1].

For example, The Beatles first big hit, Love me Do, came out 60 years ago, in 1962. Going back 60 years to 1902, the hits of that year included Scott Joplin’s ragtime number The Entertainer. The recent buzz around Get Back can be compared to the revival of interest in Joplin generated by the Newman-Redford movie The Sting[2]

CoreLogic has released its Quarterly Auction Market Review for the December quarter of 2021, which reveals that auction volumes surged 85% over the quarter to record highs: There were 42,918 homes taken to auction across the combined capital cities over the December 2021 quarter, up 85.1 per cent from the previous quarter (23,184) and more

The post Auction volumes surged 85% in Q4, dragging down prices appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

As already reported, Australia’s unemployment rate fell 0.4% in December to just 4.2% – the lowest reading since August 2008 just prior to the Global Financial Crisis: Total jobs rose by 64,700 to 13,242,000 people in December, with full-time jobs rising 41,500 and part-time jobs rising by 23,300: The participation rate remained dead flat at

The post ABS employment in detail: Workers rejoice at zero immigration appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

After yesterday announcing that he will flood the nation with exploitable temporary migrant labour, Prime Minister Scott Morrison has called on the states to allow children to drive forklifts: The ACTU’s Sally McManus and Liam O’Brien slammed the proposal, noting that forklift driving is one of the most dangerous jobs in Australia accounting for one-in-six

The post Morrison turns to child labour appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

These figures are questionable but they’re the best real-time data that we have. Westpac: The shift is coast-to-coast: But it is all staples not discretionary so caution remains: There is also some good if old news from the ABS. Payrolls held up going into Xmas with a little bit of wages growth to boot: Though

The post Some easing in private lockdown? appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

For years we have pointed to the incredible labour abuse embedded in Australia’s mass immigration model. Eventually, we won the debate with the core of Australian blue chip economics acknowledging this truth and demanding change, right up to and including the Reserve Bank of Australia. For just as many years, The Guardian’s Greg Jericho has

The post Hateful Jericho demands return of worker abuse appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]