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The latest overseas arrivals and departures data from the ABS revealed that immigration has collapsed to the lowest level in around 16 years:
Annual net long-term arrivals fell to 180,920 in July, down 111,850 (36%) from February just prior to COVID-19 border closures.
Net long-term arrivals are now tracking only 14% above the 44-year average and are approaching late 1980’s peak.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.