Immigration takes an almighty dump

The Australian Bureau of Statistics (ABS) yesterday released arrivals and departures data for the month of October, which revealed that the number net long-term arrivals collapsed to only 107,440 over the year, down 64% from the peak of 297,040 recorded in August last year:

Annual net long-term arrivals are now tracking at levels not seen since 2000, before the mass immigration ‘Big Australia’ ponzi kicked off.

The monthly net long-term arrivals data is a leading indicator of the ABS’ official quarterly net overseas migration (NOM) data, which is current to March 2020:

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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.