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MacroBusiness Thursday, January 20, 2022 - 13:00 Source

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

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Renew Economy Thursday, January 20, 2022 - 12:54 Source

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Renew Economy Thursday, January 20, 2022 - 12:37 Source

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MacroBusiness Thursday, January 20, 2022 - 12:30 Source

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.

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MacroBusiness Thursday, January 20, 2022 - 12:05 Source

In today’s investment webinar (LIVE 12:30pm AEDT), MB Fund’s Chief Strategist David Llewellyn-Smith, Head of Investments Damien Klassen, and Senior Financial Advisor Sam Kerr pull apart the Chinese property market’s crash landing Agenda: After 30 years of boom, the Chinese property development market is going bust. Signature policies of “three red lines” and “common prosperity”

The post MB Fund Podcast: China’s Property Market crash lands in 2022 LIVE 12:30 AEDT appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 12:00 Source

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.

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MacroBusiness Thursday, January 20, 2022 - 11:39 Source

The ABS has just released labour market data for December, with Australia’s unemployment rate plummeting to 4.2% after creating 64,800 jobs: According to Bjorn Jarvis, head of labour statistics at the ABS: “This is the lowest unemployment rate since August 2008, just before the start of the Global Financial Crisis and Lehman Brothers collapse, when

The post Australia’s unemployment rate plummets to 4.2% appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 11:30 Source

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.

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The Australian Independent Media Network Thursday, January 20, 2022 - 11:21 Source

By TBS Newsbot Faced with a labour shortage he helped create, Scott Morrison will ask the national cabinet if kids can legally drive forklifts. Scott Morrison’s national cabinet has taken a bizarre, almost Antoinette-Esque solution to the crisis of supply. Instead of letting people eat the cake they don’t have, Morrison wants children to drive…

The post What the dickens? Morrison wants kids driving forklifts appeared first on The AIM Network.

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MacroBusiness Thursday, January 20, 2022 - 11:00 Source

The RATs debacle is now caught in Morrison’s usual web of lies: Rapid antigen test vendors are telling their customers that kits bound for personal and workplace use are being diverted to the national stockpile, contradicting the Prime Minister’s vehement denial this is happening. Retailers such as Werko, Star Hygiene and HiCraft have blamed federal

The post Morrison’s plague outpaces his lies appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 10:40 Source

Labor has extended its election winning lead, polling 56.5% of the two-party preferred vote (up 1% point since late November) versus the Coalition’s 43.5% (down 1% point), according to Roy Morgan Research: If a Federal Election were held now the ALP would be elected with a similar margin to that won by Harold Holt at

The post Labor extends crushing election lead over Coalition appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 10:20 Source

As I have said throughtout the last six months of global energy chaos, there is no underlying shortage of anything. What there is is two many dollars chasing crazed narratives that blow prices sky-high in a period of days before collapsing again. To decribe this as a crazy outcome in the most capex demanding and

The post China moves to pop global energy bubble appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 10:02 Source

NSW has recorded another 30,825 new COVID infections and 25 deaths: Victoria recorded 21,966 new COVID cases and 15 deaths: Daily cases across both NSW and Victoria since the beginning of last winter’s Delta wave are plotted below: Active cases are falling across NSW and are nearing their peak in NSW: Hospitalisations have finally fallen

The post NSW emerges out the other side of COVID crisis appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 10:00 Source

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the headline CPI to increase by 1.1% in Q4 21 (3.2%/yr). The trimmed mean CPI on our forecasts will print at +0.9% (2.5%/yr). An underlying inflation outcome in line with our forecast would be a big upside surprise compared to the RBA’s

The post CPI Preview – will it be the game changer for the RBA’s inflation narrative? appeared first on MacroBusiness.

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Your Democracy Thursday, January 20, 2022 - 09:59 Source

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The Australian Independent Media Network Thursday, January 20, 2022 - 09:55 Source

Prime Minister Scott Morrison claimed on Tuesday that he and his government were “blindsided” by the virulence of the COVID-19 variant, Omicron. This claim is referred to in most news reports as an “admission,” which implies that the government really didn’t know Omicron’s potential for mass infection, despite it being already proven in Africa, the…

The post “We didn’t know just how severe Omicron would be” says PM appeared first on The AIM Network.

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MacroBusiness Thursday, January 20, 2022 - 09:30 Source

The ferrous complex was strong on January 19, 2021 as China stimmies worked their Jedi magic:’ A pretty subdued response to new stimmies, all-in-all. My view is unchanged. Chinese property is not fixed and a much larger downdraft in property steel demand is already embedded than anybody has in their numbers. This is still the

The post Daily iron ore price update (pretty subdued) appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 09:00 Source

Another attempted property fix is on the drawing board: Chinese regulators are considering lifting some restrictions on developers’ access to cash from presold properties tied up in escrow accounts, according to people with knowledge of the matter, a potentially major step toward easing the industry’s liquidity crunch. Regulators including the housing ministry and the banking

The post China robs Peter to pay Paul in new property unfix appeared first on MacroBusiness.

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Your Democracy Thursday, January 20, 2022 - 08:03 Source

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Rogue government backbencher George Christensen may be stripped of a lucrative parliamentary role after repeatedly pushing baseless anti-vax claims.

But Prime Minister Scott Morrison has refused to take stronger action on the controversial Queensland MP, pleading with Australians instead to ignore his discredited views.

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MacroBusiness Thursday, January 20, 2022 - 07:49 Source

DXY eased last night: Which cut AUD some slack: Oil flamed out. Gold sure ain’t worried about inflation: Nickel is on a tear, other dirt was firm: Big miners to the moon: EM stock rout paused: As EM junk finally lifted: With Treasury yields easing: Though stocks still struggled: Westpac has the wrap: Event Wrap

The post Australian dollar firms as yields ease appeared first on MacroBusiness.

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Your Democracy Thursday, January 20, 2022 - 07:04 Source

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Renew Economy Thursday, January 20, 2022 - 00:15 Source

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MacroBusiness Thursday, January 20, 2022 - 00:10 Source

The Grattan Institute’s Henry Sherrell penned an article in The AFR calling for Australia’s permanent skilled migration system to be reformed so that it focuses more on younger, higher paid entrants: Public debate about migration policy in Australia tends to swirl around just one thing: picking a number… But how many migrants is just one

The post Grattan Institute half right on skilled visas appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 00:05 Source

Yesterday, the Australian Bureau of Statistics (ABS) released dwelling construction data for the September quarter, which showed that annual detached house commencements hit their highest level on record, with total commencements just below record highs: By contrast, actual dwelling completions remained depressed, suggesting the supply pipeline is chock full: The below charts plot annual dwelling

The post 2022 will usher a tsunami of housing supply appeared first on MacroBusiness.

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MacroBusiness Thursday, January 20, 2022 - 00:01 Source

Global Macro / Markets / Investing: Shipping Companies Had a $150 Billion Year. Economists Warn They’re Also Stoking Inflation – Bloomberg Inflation has ‘direct correlation’ with America’s chip shortage: Commerce Secretary – Yahoo Economics is once again becoming a worldly science – AEON Goldman’s big bonus payouts weigh on quarterly profit – FT economic consequences

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The Australian Independent Media Network Wednesday, January 19, 2022 - 19:35 Source

“Good afternoon, joining us for the afternoon is the only Liberal we could get to join us. While he’s not a minister, or even an MP, he insists that he knows just as little as any of them about anything that could be held against him if it were to be leaked that he was…

The post What The Left Don’t Understand About Illegal Immigrants! appeared first on The AIM Network.

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Cheeseburger Gothic Wednesday, January 19, 2022 - 18:32 Source

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The Australian Independent Media Network Wednesday, January 19, 2022 - 18:00 Source

History’s annals are filled with war profiteers and hustlers for the opportunistic return. They come in the form of hoarders, arms manufacturers and wily business folk making a steal on slaughter and mayhem. But the other conflict – that of battling a pandemic – has also shown that profits exist for those willing to exploit…

The post Arise, Pandemic Profiteers appeared first on The AIM Network.

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MacroBusiness Wednesday, January 19, 2022 - 17:30 Source

Stocks were sold off swiftly throughout Asia today in response to the slump on Wall Street overnight as the USD pulled back slightly from its surge against risk currencies. The real threat here remains the bond market with US Treasury yields climbing sharply on the expectation of a slew of interest rates from the Fed

The post Macro Afternoon appeared first on MacroBusiness.

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