Reserve Bank governor Michele Bullock isn’t ready to cut interest rates just yet. But after the central bank’s aggressive campaign to quash demand and cool price pressures, delivering blow after blow to homeowners, the focus of economists and analysts has pivoted to the timing and speed of a rates reprieve.Continue Reading
Demand for new workers has cooled for the fifth quarter in a row, according to the latest Australian Bureau of Statistics (ABS) jobs vacancy data. The report, released Thursday, covers the three months to August, and shows there were 390,000 job vacancies in that quarter — down 38,000 from May.Continue Reading
Australians have changed the way they’re clothes shopping in response to the cost of living crisis, new data has revealed. Despite discretionary spending going down overall in the last 12 months, almost 40 per cent of consumers aged 18-39 have actually increased their usage of online shopping, the Australian EcommerceContinue Reading
Major changes are set for Australian workers as the government races to address a rapidly aging population and looming changes to the global economy. The first treasury document of its kind since 1994, the new employment white paper released on Monday and entitled ‘Working Future’, includes initiatives and policy directionsContinue Reading
There is a huge demand for tradespeople across all industries right now, with many companies crying out for workers and offering big rewards to get people on board. In fact, Australia is experiencing a massive shortage of skilled tradespeople, with the Housing Industry Association reporting that the situation is theContinue Reading
Since the pandemic first began significantly impacting the Australian economy in the early months of 2020, we have witnessed surprise after surprise for the economy and households. Through a commitment of more than half a trillion dollars in stimulus between state and federal governments and pandemic-fuelled demand, the economy hasContinue Reading
The number of sexual assaults recorded by police went up three per cent over one year, with most victim-survivors who reported the crime being female, new statistics have revealed. Property crime, which includes burglaries, were up for the second year in a row, according to the Recorded Crime – VictimsContinue Reading
Australia’s unemployment rate has risen to 3.7 per cent in April, new figures out Thursday reveal, after employment decreased by 4300 people over the period. In seasonally adjusted terms, it’s a slightly higher figure than the 3.5 per cent March figure and is higher than what the market was predicting.Continue Reading
A restaurant owner has invited unemployed Melburnian Jez Heywood to apply for one of nearly 200 vacancies, saying he’s “struggling” to find workers and slamming the Jobseeker increase as “ridiculous”. Chris Lucas, owner of high-end restaurants including Chin Chin and Grill Americano, weighed in on the tiff between Mr Heywood,Continue Reading
While Aussie homeowners were delivered a welcome reprieve as the Reserve Bank paused its aggressive rate hiking cycle this month, one major bank boss has delivered a grim warning about what’s to come. The RBA revealed on Tuesday it was holding interest rates at 3.6 per cent but National AustraliaContinue Reading