Australian Economy

By Leith van Onselen MB has argued consistently that running a mass immigration ‘Big Australia’ policy necessarily lowers the wages of incumbent workers. This view is supported by various Productivity Commission modelling (see here), as well as several notable Australian economists.

By Leith van Onselen Who would have thunk it: increasing Melbourne’s population by 1.2 million people over the past 13 years has led to massive increases in traffic congestion, according to new data from RACV: PEAK hour has stretched to six hours a day across Melbourne’s congested road network, new data reveals.

By Gareth Aird, senior economist at CBA: Key Points: A second estimate of 2018/19 spending plans of around $90bn would imply no change to investment intentions compared to the first estimate.

Via Domainfax: Casino giant Crown’s commitment to building the country’s tallest skyscraper is in doubt ahead of a fast-closing deadline, with the company yet to begin seeking any of the required planning approvals.

Via Domainfax: You can trace the cause of student overpopulation in Sydney’s east back to 1990 when Maroubra Bay High School was closed.

By Leith van Onselen The sweeping political backlash in Sydney against mass immigration has clearly been lost on NSW Treasurer, Dominic Perrottet, who claims Sydney has plenty of room to grow and has wholeheartedly embraced a city of 7 million people by 2039.

By Leith van Onselen The ABC has released a report explaining why Australian homelessness is getting worse: Australia’s homelessness figures are going in the wrong direction, and housing experts warn we’re about to recommit to a failing policy.

This morning I was interviewed by Radio 2GB’s Luke Grant discussing Labor Leader, Luke Foley’s, regrettable comments yesterday about “white flight” from Sydney owing to an influx of refugees (which I demolished yesterday).

Via Domainfax: Crowding on Sydney’s trains has worsened significantly in just a year, new figures show, frustrating passengers and placing greater pressure on an aged rail network struggling to cope with a booming population.

By Leith van Onselen It’s a question I have often pondered.

By Leith van Onselen The International Monetary Fund has produced dystopian analysis warning of a possible future of work dominated by machines, leading to falling wages, rising unemployment, and worsening inequality.

Via the AFR: British billionaire Sanjeev Gupta is accelerating plans to become Australia’s first large-scale manufacturer of lithium household storage batteries to take advantage of booming demand and to stop the country squandering another competitive advantage.

By Leith van Onselen Last month’s joint Treasury/Department of Home Affairs propaganda report, Shaping a Nation, confirmed what many of us already knew: that most new jobs created have gone to migrants: Recent migrants accounted for two-thirds (64.5 per cent) of the approximately 850,000 net jobs created in the past five years.

Via Bill Evans at Westpac: • The six month annualised growth rate in the Westpac– Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, increased slightly from +0.77% in March to +0.82% in April.

Via 2GB yesterday: Ray Hadley has offered an open invitation to chauffeur The Greater Sydney Commission’s Lucy Turnbull around Sydney after the PM’s wife claimed the city is “far from full”.

By Leith van Onselen It seems 15 years of turbo-charged ‘skilled’ permanent migration is not enough: Today, the Regional Australia Institute has demanded the federal government expand Australia’s permanent migration program even further in a bid to ease skills shortages in the regions.

Via Domainfax: Sydney is approaching a tipping point that would see people abandon public transport and choose to drive to work as the city struggles to cope with population growth.

Via The Australian: The Australian arm of Toys ‘R’ Us was placed into administration on Monday night, putting the future of more than 700 staff in doubt. McGrathNicol was appointed voluntary administrator of Toys ‘R’ Us (Australia) and Babies ‘R’ Us by a resolution of the company’s Australian directors.