If there is one lesson to be learned from a study of capitalism, it is that competition eventually finds a way of breaking through.
ABS
Jobs growth still strong, despite the rising tide of bad news
The Australian economy continues to create jobs at a rate faster than most market forecasts. Employers gave jobs to another 26,900 people in May, more than most market estimates.
Oh yeah, we’re back in black
Australia’s trade account has stormed back into the black for the first time in a year. A surge in higher prices for iron ore and various coals boosted our export performance.
Property bubble: let’s get the facts straight, please
The misreporting of Australia’s residential property market continues unabated, while the body in charge of Australia’s money supply continues to deny the existence of a debt-fuelled housing bubble.
Business As Usual: Retail on the up, says ABS … inflation forecast at 3% … Freddie and Fannie still asking for handouts …
RBA alludes to new inflation figure … Freddie Mac and Fannie Mae are still struggling with huge debts … Car sales, especially diesels, are going from strength to strength … China worries about inflation … Newsweek’s slumping sales are leading to a “for sale” sign for the masthead …
Inflation up, housing costs the driver
Thanks to the rising cost of housing, inflation is stirring, enough to get the Reserve Bank a little twitchy ahead of next Tuesday’s monthly board meeting.
Jobs jump sets RBA alarm bells ringing
The tilt in monetary policy has just moved decisively towards further rate rises, after the strongest jobs performance for three years years was revealed in the January labour force figures today.
We were warned: interest rates will rise
When interest rates are raised today, we can’t say that we weren’t warned. RBA chief Glenn Stevens told us last year we had a chance of avoiding it and we muffed it.
Australia’s housing bubble: it’s already here
The evidence is in: Australia is right in the middle of an emerging housing bubble. A rate rise of 0.50% can be justified tomorrow from the RBA on house price figures alone, with Melbourne prices soaring nearly 20%.
Dollar’s strength leads to a whiff of disinflation
The cost pressures seen in the September quarter, especially from government cost increases, seemed to vanish from Australian industry in the three months ending December 31.
Consumers shrug off RBA’s rate hikes
Get ready for a rates rise. The level of rising confidence, taken with solid retail sales for November, good car sales, still strong demand for housing finance and surging overseas travel, have increased the odds of the RBA lifting rates.
The rise in independent contracting is a myth
It’s time to declare an end to the alleged rise in “independent contracting” that has purportedly dominated Australian workplaces over the last decade.
Rudd agenda backed by jobless stats
The Australian economy has again shown its resilience with the unemployment rate last month steady on 5.8%, where it has been since June.
Retail sales slip, Rudd gets stimulus reprieve
Opposition leader Malcolm Turnbull has gone on a “cut back stimulus” sortie in the past couple of days, urging the Government to act on his demands. Not great timing given new retail and housing finance figures.
Indigenous population set to soar
The ABS is predicting a surging growth rate for Australia’s Indigenous population over the next 10 years, with as many as 721,100 people by 2021.
Farmers and Nats don’t see eye-to-eye on climate change
The ABS has surveyed the views of farm managers on climate change and its effects on their business, finding the impacts from climate change are overwhelmingly seen to be negative — a far cry from the National Party line on climate change, says Possum Comitatus.
Just 800 more jobless for July
Despite gloomy expectations, Australia’s jobless rate remained steady at 5.8% last month, with a sharp, 32,000 rise in the number of people who found work.
Tips and rumours: The ABS is not your mate
An unfriendly rule at the ABS, jobs may be going at the The Australian Public Service Commission, the LNP go into lockdown, and more from our tipsters.
What crimes are considered worse than others?
The Australian Bureau of Statistics has just released their attempt to list crimes in Australia by ranking of seriousness. Where does counterfeiting rank in relation to prostitution? Find out here.
graph pr0n Fifteen turbulent years of Australia’s economy, in graphs
Bernard Keane graphs the evolution of the Australian economy, and its politics, since the end of the Keating era.
Business lending slumps, so CBA and others turn to housing
Banks will move to make money from housing while they can, writes Glenn Dyer.
Our 5.7% jobless figure looks much nicer than the US 9.4%
The one point to be made with certainty from today’s jobless figures is that the Australian labour market is not as stricken by recession as America’s, or Europe’s, or Japan’s.
Uh, we’re actually in recession
Away from the seasonally adjusted media tart data, the ABS trend numbers say we’re well and truly in a recession, writes Michael Pascoe.
No trade boost this quarter to help national growth
ABS figures show a slump in Australia’s trade performance.
Australia avoids recession: what the pundits say
Yesterday’s confirmation that the Australian economy had avoided a technical recession sent the Rudd government into a fit of giggles, but the commentariat was less enamoured.
