economy
Consumer confidence rebound wobbles following Trump win
14 November
A second Donald Trump presidency has dented an otherwise confident outlook for Australian consumers, buoyed by improving finances and the diminishing likelihood of interest rate hikes. Pessimists still outnumber optimists in the Westpac-Melbourne...[Read More]
Annual wage growth for workers drops to 3.5 per cent
14 November
Australia’s annual pace of wage growth has stepped down to 3.5 per cent through to September, from 4.1 per cent over the year to June. A large fall in the annual rate was anticipated as a bumper 5.75 per cent increase in award wages fell out of...[Read More]
From sadness to wellbeing: call to rewire the economy
7 November
People are not simply wondering if they can afford the life they lead, they are questioning if it is the life they want, an international humanitarian says. “If you start talking to people about what their lives are like right now, a lot of people...[Read More]
Bonus to stick with army helps Australia to stay ready
7 November
Cash bonuses for serving personnel will do little to improve retention rates, a veterans’ welfare organisation warns. The Albanese government on Tuesday announced a $600 million package to keep people in the military, while releasing the 2024...[Read More]
Inflation eases to 2.8 per cent in September quarter
31 October
Australia’s annual inflation rate has returned to the range targeted by the central bank, clocking in at 2.8 per cent in the September quarter. The headline annual rate was down a whole percentage point from the June quarter and landed broadly in...[Read More]
Petrol and energy relief drag headline inflation lower
31 October
Cheaper fuel and energy bill relief have helped drag headline inflation down to its lowest rate since early 2021. A 2.8 per cent rise in the September-quarter consumer price index marks a return to the Reserve Bank’s target range of two to three...[Read More]
Pandemic cash splash let inflation genie out of bottle
31 October
Unnecessary COVID-19 spending and Reserve Bank delay in lifting interest rates significantly worsened inflation, a review of Australia’s pandemic response finds. While supports like JobKeeper and HomeBuilder were desperately needed and an...[Read More]
Cost of living woes trump worker satisfaction
24 October
Four in five working Australians are more concerned about living costs than job satisfaction. Research by tech company SafetyCulture details challenges facing frontline industries amid several years of inflation. It found women workers to be more...[Read More]
Australia facing further economic troubles
24 October
Labor has defended its economic track record as sluggish growth is expected for the Australian economy, while unemployment is likely to climb. Treasurer Jim Chalmers will meet with world counterparts in Washington as the International Monetary Fund...[Read More]
Stage three tax cut spending spree yet to surface
17 October
Tax cuts don’t appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with...[Read More]
Melbourne, SE Qld lead way for new jobs figures
17 October
Parts of Victoria and Queensland are leading the charge for new jobs being created, figures show. Analysis of Australian Bureau of Statistics labour data show Melbourne and southeast Queensland had the greatest increase in employment in the year to...[Read More]
Outstanding invoices go unpaid as businesses squeezed
17 October
More businesses are struggling to pay outstanding invoices to suppliers though the proportion falling behind is still below pre-pandemic levels. Wednesday’s risk update from CreditorWatch suggests lacklustre consumer spending and elevated costs of...[Read More]
Debit card surcharges could be scrapped in crackdown
17 October
Surcharges for payments made by debit card could soon be dumped, but business groups have warned there might be unintended consequences for consumers. The federal government said it was prepared to ban debit payment surcharges by 2026, pending a...[Read More]
Spring brings brighter outlook as rate hike fears fade
10 October
Consumers can see light at the end of the tunnel as fears of further interest rate hikes fade. As signs of improving consumer and business confidence emerged, minutes from the Reserve Bank of Australia’s last meeting confirmed the case to lift...[Read More]
Prosperity and climate action can go hand-in-hand
10 October
Protecting nature and combating climate change need not come at the expense of Australia’s prosperity, a global summit has been told. Climate change, energy, environment and water department secretary David Fredericks says his department is...[Read More]