The Conversation descends to Codswallop on Immigration and Wages macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.
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My heart goes out to the many millions of individuals, families, and businesses staring down the barrel of extreme, lockdown-induced adversity across the country right now. As the latest payrolls data show, every day folks are losing their jobs, incomes, and, sadly, their way of life.
Speaking to businesses, many say they are being permanently scarred by these unexpected events, and will not bounce back with the same vigour that characterised their exit from the original lockdowns last year, which they thought would be their last.
Policymakers need to work fast to help those badly hit by the extended lockdown. Â
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at 11:00 am on July 15, 2021 | 13 comments
The AFR has taken another shot at RBA governor Phil Lowe for daring to admit that Australia’s mass immigration program pushed down wage growth.
The robber baron’s paper of choice has now enlisted economics editor John Kehoe to cherry-pick research and testimony claiming that immigration does not push down wages. Below are Kehoe’s main arguments:
Economic studies are inconclusive about the impact of immigration on wages.
“Australia’s disproportionately skilled migration program may be ‘decreasing inequality’ – because skilled foreign workers compete for jobs and wages against higher paid Australians”.