AFR Education Editor Julie Hare argues that the ‘crackdown’ on migration will worsen Australia’s chronic skills shortage. Professor Eric Knight, Macquarie University’s deputy vice-chancellor (people and operations), says politicians’ – and the community’s – growing “intolerance for migration” is adding fuel to the flames of skill shortages as unemployment remains at almost historically low levels.
The Reserve Bank of Australia (RBA) noted in the minutes of its board meeting for November that there are signs that the job market is beginning to tighten. The unemployment rate was steady at 4.1% in October. RBA governor Michelle Bullock has previously indicated that the strength of the labour market is among the reasons
Steel and iron ore futures are range trading. Goldman presents further evidence that the steel and bulk markets are balanced for now. The forward order books of mills were flat to up MoM in November, better than the past seasonal pattern, while the absolute level of demand remains soft. Among all key demand segment, orders
You can’t keep a good DXY down, AUD smashed back to the canvas. North Asia has hardly responded yet. Gold weathered the storm. Dirt not so much. Nor miners. EM caput. Junk still a worry. As the US curve flattens. Stocks struggled. DXY is at the trading range highs. I expect this will eventually break
CBA Senior Economist Stephen Wu has released the bank’s forecasts for the upcoming monthly CPI indicator. CBA expects the monthly indicator to record annual headline inflation of 2.1% in October, near the bottom of the Reserve Bank of Australia’s (RBA) target range of 2% to 3%. Wu notes that other measures of inflation have shown
Nothing better sums up the divergence of economic fortunes between young and older Australians than this week’s analysis of spending habits by age from the CBA. The only chart that comes close is the following, showing the collapse in home ownership rates among younger age cohorts, while older age home ownership rates have remained stable.
Gnarwarre Sunset AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 100 US S&P 500 UK !00 Japan 225
The post Macro Afternoon: 20 November 2024 appeared first on MacroBusiness.
Kevin07 is back. Kevin Rudd has declared Australia ‘is ready’ to work closely with Donald Trump and his new administration to bolster an alliance which has never been more important or relevant. Australia’s ambassador in Washington said that in a world of ‘many challenges’ Australia welcomed an active and engaged United States in the Indo
The latest consumer price index (CPI) data for New Zealand showed that headline inflation had fallen to only 2.2% in the year ended Q3 2024, tracking within the Reserve Bank’s inflation target of 1% to 3%. This would suggest that the Reserve Bank has slayed the inflation dragon. However, the latest Reserve Bank survey suggests
You know the lunatics are in charge of the asylum when Australia’s own National Anti-Corruption Commission (NACC) is embroiled in corruption issues. When the Royal Commission on the Robodebt Scheme delivered its report, the commissioner in charge made great efforts to refer six individuals to the NACC for investigation. Many people were outraged, particularly the