Australian Economy

By Leith van Onselen Late last year, Treasurer Scott Morrison bemoaned Australia’s anaemic wages growth and practically begged companies to pay their workers more: Treasurer Scott Morrison has stepped up calls for employers to turn increasing profits into higher wages to help end the record run of flat wages growth.

By Leith van Onselen Since I work from home in the suburbs, I rarely venture into Melbourne’s CBD anymore.

From the NAB quarterly business survey: A little upwards pressure comprehensively swamped by new supply.

By Leith van Onselen Faith in trickle-down economics among Australia’s business elite must be slipping, with former BCA head, Tony Shepherd, backing calls for Australia’s largest companies give pay rises in exchange for company tax cuts.

By Leith van Onselen The immigration-driven population boom in Sydney – which has added 845,000 people (20%) to Sydney’s population over the past 12 years and is projected to increase Sydney’s population by 87,000 people a year over the next 20 years – is the gift that keeps on giving.

Via Rio Tinto today: Rio Tinto is gearing itself for rising wage pressure in Australia and its other host nations after reporting a 69 per cent rise in full-year profits and paying out record dividends to shareholders.

By Leith van Onselen Several big name economists have questioned the data used by the ALP and the ACTU in arguing that corporate profits are growing at a much faster pace than wages.

From the AIG comes the Construction PMI: ▪ The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 1.5 points to 54.3 points in January (readings above 50 points indicate expansion).

By Leith van Onselen The frequency of #SardineSydney stories in the mainstream media has escalated as the city’s population has swelled way above the capacity of the road, public transport and housing systems.

By Leith van Onselen Yesterday’s retail sales figures should detract from Australia’s September quarter GDP when the national accounts are released early next month.

Cross-posted from The Conversation: While companies might reap significant gains in productivity from automating certain jobs, this won’t necessarily lead to pay rises for everyone.

By Leith van Onselen Last night’s Q&A featured the below question by MB reader Karl Nixon to Deloitte-Access Economics’ chief economist Chris Richardson: Chris, you commented a few years ago, that our younger generation should be rioting in the streets due to growing inter-generational inequality.

From the man with the plan: Atlassian co-founder Scott Farquhar has called on the federal government to introduce a visa for highly skilled foreign workers who can help generate jobs in Australia.

By Leith van Onselen Ed Gannon – publisher of The Weekly Times’ – came out hard yesterday demanding that federal Labor support the newly signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), dubbed by MB as TPP 2.0: HERE we go again.

By Leith van Onselen The lack of planning and foresight to cope with the never-ending population (immigration) deluge into Australia’s big cities never ceases to amaze.