Labour shortages in Australia have worsened over the past three months, with many businesses in the retail industry saying it’s much harder for them to hire new staff, according to a new survey. An online poll by the Australian Retail Association (ARA) showed that none of the retailers surveyed said labour shortages had eased, with…

Australians, who love travelling and can’t wait to go abroad after the country reopened, are spending more on international tourism than they did before the COVID-19 pandemic, banking industry figures show. Customers of National Australia Bank (NAB) spent AU$46 million (US$31.98 million) on international flights, accommodation, car rentals, cruises, trains, and travel agencies in May,…

The pace of Australia’s economic recovery has exceeded the expectation of many observers; however, a new report has warned that the country will not be able to sustain the current growth. As indicated in the latest Deloitte Access Economics Business Outlook, Australia’s jobless rate was heading toward 3.5 percent, the lowest in half a century,…

Closed international borders due to the COVID-19 pandemic and a plunge in skilled migration have resulted in a loss of $32 billion (US$22.9 billion) to the Australian economy as 380,000 fewer people had entered the labour force, a new study found. The joint study by RMIT Online and Deloitte Access Economics also pointed out that…