Australian Economy

From Roy Morgan Research: The latest Roy Morgan employment series data shows 1.25 million Australians were unemployed in December, down 78,000 on November (8.5% of the workforce), but a further 1.42 million Australians (9.7% of the workforce) were under-employed, up 218,000 (up 1.4% points).

Markit with the good news: Australia’s private sector shrank for the first time in four months,according to Flash PMI® data, affected by the latest surge in COVID-19 infections.

Late last year, the Western Australia Government became the first jurisdiction in Australia to mandate third vaccine shots for more than one million eligible workers who are required to “receive a third dose within one month of becoming eligible”.

Sales of new detached houses is at levels previously only observed when there is direct government stimulus, according to new home sales data from the Housing Industry Association: “Sales of new detached homes increased by a further 11.3 per cent in December,” stated HIA Economist Tom Devitt.

Western Australia’s borders will remain closed indefinitely, after Premier Mark McGowan abandoned his plan to reopen in a late night press conference.

Westpac chief economist Bill Evans is now forecasting that the RBA will begin lifting the cash rate from August.

These figures are questionable but they’re the best real-time data that we have.

For years we have pointed to the incredible labour abuse embedded in Australia’s mass immigration model.

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the headline CPI to increase by 1.1% in Q4 21 (3.2%/yr). The trimmed mean CPI on our forecasts will print at +0.9% (2.5%/yr).

Driving around Melbourne this summer has been a earie experience.

From Westpac economics: The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 2.0% to 102.2 in January from 104.3 in December.

The ABS has released dwelling construction data for the September quarter, with dwelling commencements posting a significant fall.

As we know, Victoria has experienced the strongest population growth in Australia.