Minerals-rich WA is Australia’s proverbial boomtown, with a rich economy pulling in a growing swell of Australians and international migrants eager to “go west” and live the good life. Commonwealth Bank’s latest quarterly economic report on each state and territory and how they stack up against each other shows mining-heavyContinue Reading
The Reserve Bank of Australia will not be influenced by recent rate cuts abroad, freshly appointed deputy governor Andrew Hausen has signalled, after Canadian and European central bankers lowered interest rates this week. In his first public remarks since his appointment to the position in November, Mr Hauser, who wasContinue Reading
WASHINGTON: America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month’s sizable job gain suggests that the economy is still growing steadily, propelled by consumer spendingContinue Reading
As organisations battle to bring an end to Covid-era remote working arrangements, new research reveals some of the world’s biggest tech companies saw an exodus of senior talent when they mandated a return to the office. And in many cases, those valuable and difficult-to-replace senior workers went straight to directContinue Reading
Almost 14.4 million Australians are expected to be in work by mid-year, more than 105,000 than previously forecast, as the nation’s red-hot jobs market continues to defy a broader economic slowdown. But economists have warned that the firmer-than-expected jobs numbers means Treasurer Jim Chalmers should redouble his focus on reducingContinue Reading
The Reserve Bank has dramatically hiked its near-term inflation forecasts, showing progress is expected to stall as soaring costs at the fuel bowser and a still-tight jobs market cause a rebound in prices. According to updated quarterly forecasts, released by the Reserve Bank on Tuesday as it also unveiled itsContinue Reading
Treasurer Jim Chalmers is all but assured of delivering back-to-back surpluses, with new figures showing thumping revenue flows and tightened federal purse strings are set to keep the budget in the black. The figures, released by the Department of Finance on Friday, showed the 2023-24 underlying cash balance to theContinue Reading
New job figures have dimmed hopes the Reserve Bank will cut interest rates this year. The unemployment rate rose slightly to 3.8 per cent in March, up from 3.7 per cent in February, according to Australian Bureau of Statistics seasonally adjusted figures released on Thursday. That was lower than forecastsContinue Reading
Inflation held steady last month, buoying hopes that the Reserve Bank can move to cut interest rates this year. Consumer prices rose 3.4 per cent in February from a year earlier, the Australian Bureau of Statistics said on Wednesday, slightly below economists’ expectations of a 3.5 per cent increase. However,Continue Reading
Australia’s jobs market exhibited a remarkable recovery last month, with a shock fall in the unemployment rate suggesting the Reserve Bank will push back any cuts to interest rates, economists warned. The economy added a blockbuster 116,500 jobs in February, the Australian Bureau of Statistics reported on Thursday, far outstrippingContinue Reading