Stay updated with breaking news from Daniel Gradwell. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Low financing costs, change in housing-type preferences due to flexible work arrangements, and government support for owner-occupiers have contributed to Melbourne’s record-breaking growth for 2021, according to a new study.
ANZ: Closed borders to deliver 4.4% unemployment by end-2022 Last week’s federal budget projected that Australia’s unemployment rate would fall to 4.5% by 2023-24: Unemployment is projected to fall to its lowest level since the GFC. New projections from ANZ are far more bullish, tipping that Australia’s unemployment rate will fall to 4.4% by the end of 2022: There are 908 words left in this subscriber-only article. “We now expect Australia’s unemployment rate to fall to 4.8% by end-2021 and 4.4% by end-2022. Lower again in 2023 seems likely. This upgrade potentially challenges the R...
MacroBusiness Access Subscriber Only Content at 11:30 am on April 29, 2021 | 6 comments Treasurer Josh Frydenberg has signalled that further reducing the unemployment rate will be a priority in the federal government’s Budget on 11 May. He will state in pre-Budget speech on 29 April that both the Treasury and the Reserve Bank are now of the view that growth in wages and inflation will require the official unemployment rate to fall below 5%. Frydenberg had indicated in September that the government would not focus on Budget repair until the nation’s jobless rate had fallen “comfortably...
MacroBusiness Access Subscriber Only Content at 9:00 am on April 26, 2021 | 17 comments There’s revolution brewing at the ABC. A fightback against the fake left editorial viewpoint that played a major role in destroying Australian worker’s living standards in the last cycle via its defence of unbridled immigration. In the last few months, ABC’s Ian Verrender has led on the issue. Now Gareth Hutchence has joined in: Morrison intends to reopen borders and restore mass immigration. That will weigh on the wage growth being sought by the RBA. ANZ economist Daniel Gradwell said “if anything...
MacroBusiness Access Subscriber Only Content at 12:15 am on April 27, 2021 | 6 comments It’s amazing to see economists finally acknowledge that mass immigration drives wages lower – something MB has argued for nigh on a decade. The latest salvo comes from ANZ economist Daniel Gradwell, who last week warned that restoring mass immigration would suppress wage growth: Once Australia’s international borders reopen and Australia’s labour market is re-attached to the global labour market, it will be harder for wage pressures to build locally. As ANZ economist Daniel Gradwell said last week,...