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Employers choosing migrants over older Australians

October 19, 2021 - 00:10 -- Admin

The ABC has published a report bemoaning that “ageism is rife in Australian workplaces”, where many older Australians are being shunned for jobs in favour of younger workers: A recent survey of 5000 people over 50 by Australian Seniors found many older people want to participate in the workforce, but they are not being given opportunities: Eighty-nine

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Will fire or ice kill markets?

October 19, 2021 - 00:05 -- Admin

More to the point, does it matter?  BofA still thinks fire: The Biggest Picture: US small business labor shortages & wage pressures worst in 50years (Chart2) = we are on cusp of policy pivot from pro-growth to anti-inflation (policy mistake has already happened…>$30tn of global stimulus ending in inflation). The view: bull case is pandemic

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Links 19 October 2021

October 19, 2021 - 00:01 -- Admin

Global Macro / Markets / Investing: Is the world economy entering a wage-price spiral? – Economist The Layman’s Guide to Financial Deceit – Insider Finance The Great Supply-Chain Massacre – Project Syndicate Inequality is an urban affair, and it’s due to new tech – VOX Startups are betting on a psychedelic gold rush – VOX

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Macro Afternoon

October 18, 2021 - 16:30 -- Admin

Asian stock markets are starting the week in mixed fashion as the latest Chinese GDP print undershoots expectations. Currency markets are holding on to their Friday night wobbles as inflation expectations are still reverberating around risk markets as the November Fed taper starts to weigh on trader’s minds. Meanwhile Bitcoin has almost matched its previous

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Brisbane hits 20% property price growth

October 18, 2021 - 15:00 -- Admin

Brisbane today became the second major capital after Sydney to hit 20% dwelling value growth in 2020, according to CoreLogic’s daily index: Brisbane is now also the strongest major property market, recording 6.3% quarterly price growth: My view is that Brisbane’s housing market will outperform over the next decade due to its superior affordability against

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Energy, property shocks rip through Chinese growth

October 18, 2021 - 14:52 -- Admin

Chinese September monthly data is out and missed bigly. Sept QTR barely grew at 0.2% and YTD is down to a 4.9%: Under the bonnet and monthly data is noteworthy for two reasons. Firstly, growth has stalled out as it is hit by the combined property and power shocks. YoY industrial production is a lousy

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Australia rockets up global vaccine rankings

October 18, 2021 - 14:30 -- Admin

After a sluggish start, Australia’s vaccine rollout has been exemplary. On Wednesday, 70% of the 16+ population population will be fully vaccinated. The 80% full vaccination threshold is due to be hit on 1 November, the 90% threshold on 13 November, and by 11 December 100% of the 16+ population is due to be fully

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CBUS admits lifting super guarantee lowers wages

October 18, 2021 - 14:00 -- Admin

Industry superannuation fund Cbus is seeking to have the 111 employees in its investment management division ‘carved out’ from a proposed new enterprise agreement and placed on a separate employment contract. The terms of the new contract indicate that workers would see their take-home pay reduced in the event of any increase in the superannuation

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Greens want 1 million affordable homes built over 20 years

October 18, 2021 - 13:30 -- Admin

The Greens have promised to fight for 1 million publicly owned, affordable homes to be built over 20 years if they hold the balance of power after the next federal election: Greens leader Adam Bandt… said that with so many people locked out of the housing market “we urgently need the government to act and

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Australian universities are the kings of wage theft

October 18, 2021 - 13:00 -- Admin

The pandemic has brought to light the university sector’s ‘dirty little secret’; namely, its reliance on staff with insecure work contracts. Around 70% of the sector’s staff are on such contracts, either part-time or casual, while the underpayment of staff is widespread. The Fair Work Ombudsman (FWO) has investigated 14 universities over potential underpayment of

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