Australian Economy

Below is an article written for News.com.au, published yesterday: After two years sealed shut, the Morrison Government yesterday announced that Australia’s international border will reopen to double-vaccinated tourists from February 21.

According to Treasurer Josh Frydenberg, a ­record 300,000 Australian workers switched to better jobs over the final three months of last year chasing higher pay: “Unlike some other countries, we are seeing a ‘great reshuffle’ rather than a ‘great resignation’”… “A stronger and more dynamic jobs market leads to increased productivity and wages.

National Cabinet is expected to announce that booster vaccine shots will soon become mandatory for Australians, despite around 2.5 million people across the nation already recorded as being infected with Omicron (and many more unrecorded).

The ANZ-Roy Morgan consumer confidence index remains in the gutter after falling another 1.9%: Confidence is now tracking well below the long-run average, as well as tracking below below the neutral level of 100. WA suffered the biggest loss (-8.1%), followed by Queensland -3.4%, SA -1.9% and NSW -1.7%.

Australia has recorded 4,201 deaths from COVID-19 since the pandemic began.

Last week I reported analysis of data from the federal Department of Health, which showed that that there were 203,148 cases of COVID-19 in Australia between January 2020 and 25 November 2021.

Shaping a little better than the Delta lockdowns now though still a material blow to growth: ― The Westpac Card Tracker Index dipped 1.1pts to 106.3 over the last week of Jan, marking a further slight softening in activity.

Deloitte’s latest quarterly capex outlook report is out: Business investment has returned to pre-COVID levels ahead of the Omicron outbreak.

As one progresses in life, one of the main goals is attaining a certain level of financial stability.

A record 85% of Australian businesses report staff shortages, according to the NAB quarterly business survey: Yet business groups are pushing back hard against wage rises: Employer groups said continuing uncertainty created by Covid-19 was making it difficult to pass on higher wages.

Analysis of data from the federal Department of Health shows that there were 203,148 cases of COVID-19 in Australia between January 2020 and 25 November 2021.

Australian new car sales fell 4.8% year-on-year in January on the back of the supply disruptions, according to the Federal Chamber of Automotive Industries (FCAI).

The Australian Retailers Association (ARA) has called for stimulus in its pre-Budget submission: The nation’s retailers are calling for a range of emergency measures led by tax cuts, rental relief, government-backed investments in digital technology and a strengthening of the supply chain to be included in the federal budget.