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It is important to view Australia’s immigration policy in a historical context.
In the first 60 years after World War 2, Australia’s net overseas migration (NOM) averaged 90,000 per annum, with only two years over that 60-year period recording a NOM of more than 150,000.
In the 15 years of ‘Big Australia’ immigration leading up to the pandemic, NOM averaged 220,000 a year, an increase of 145% over the post-war average.
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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.