Unconventional Economist

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also Chief Economist and co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Unemployment decline, solid spending, heaps pressure on RBA

Today’s May labour force release from the Australian Bureau of Statistics (ABS) rebounded, with the unemployment rate falling by 0.1% to 4.4%, although it remained above the RBA’s latest forecast.

State budgets drown in debt

On Tuesday, both the NSW and Queensland state governments delivered their budgets.

Another wind drought exposes energy transition

Australia’s electricity grid must be built to handle the worst moments, not averages. This week, Australia’s National Energy Market (NEM) has experienced a prolonged wind drought, which, alongside low solar generation due to winter, has made the grid overly reliant on coal and gas.

Rising unemployment may scuttle further rate hikes

Wednesday’s CPI inflation release from the Australian Bureau of Statistics (ABS) has increased pressure on the RBA to lift rates.

When it comes to the tax system, fortunes favour the old

There is growing concern that Australia’s tax and transfer system disproportionately benefits older, wealthier retirees while placing a rising burden on younger workers.

May CPI inflation pressures RBA to hike

Today’s CPI inflation release for May from the Australian Bureau of Statistics (ABS) delivered a material downside surprise to headline inflation, largely due to lower fuel costs.

State governments brace for stamp duty collapse

Recent Australian state budgets have explicitly forecast a decline in stamp duty receipts for the same underlying reasons: higher interest rates, weaker housing turnover, and investor retreat following federal tax changes.

Reality bites for data centre boom

The Climate Council contends that there are currently about 160 data centres operating in Australia, with another 90 proposed.

Housing construction faces multi-year slowdown

Australia’s housing market is experiencing a sharp investor retreat, collapsing auction activity, and weakening apartment demand.

Join me tonight on DFA Live with Martin North

Tonight I will be appearing on DFA Live with Martin North from 8.00pm AEST, where we will examine the latest on Australian property and the underlying political and economic drivers.

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