Australia has fully caught up with “lost” pandemic immigration

Advertisement

One of the excuses the Albanese Government has used to justify running the largest immigration program in the nation’s history is that we are simply “catching up” on the lost net overseas migration over the pandemic:

Net overseas migration

For example, Home Affairs Minister Clare O’Neil said in March that the record projected immigration “is a welcome indicator of the ongoing recovery from the pandemic and a reminder of the critical role migration plays in our economy, but also shows that we still have a long way to go to fill the gap in our workforce left by the pandemic”.

Treasurer Jim Chalmers likewise said that “even with this big bounce in net overseas migration, we still haven’t caught up with what we lost in Covid”.

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.