Category: Australia economy

Labor Government Raises Migration Cap to Tackle Skills Shortages

September 2, 2022
anthony albaneseAustraliaAustralia economyBusiness & MarketseconomyInternationaljobs and skills summitmigrationPeter DuttonWorld
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The Labor government will lift the migration cap to a record 195,000, extend the relaxation of restrictions for students and increase post-study works rights to ease widespread critical skills shortages. These changes are among the 36 outcomes from the Jobs and Skills ending on Friday at Parliament. The summit brings together industry leaders, employers, unions…

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Soaring Coal Exports Takes Australia’s Trade Surplus to Record $16 Billion in May

July 7, 2022
AustraliaAustralia economyBusiness & MarketseconomyInternationaltrade surplusWorld
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Australia’s trade surplus hit a record $16 billion (US$10.9 billion) in May following a hike in coal exports. The surplus went up by $2.7 billion compared to the previous month and far exceeded market expectations by around $10.5 billion. Data from the Australian Bureau of Statistics showed that exports grew by around $5 billion—or 9.5…

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Labor Is ‘Chasing Some Artificial Number’ When Pushing for Wage Rise: Employment Minister

May 18, 2022
anthony albaneseAustraliaAustralia economyAustralia federal election 2022Australian Prime Minister Scott Morrisonminimum wagepay riseStuart RobertWorld
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Employment Minister Stuart Robert has refused to say whether he thinks minimum wage should increase in line with inflation, as he criticised Labor for “chasing some artificial number.” It comes as new polling by RedBridge for the Australian Council of Trade Unions (ACTU) reveals almost 80 percent of people would be more likely to vote…

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Australia Must Be Engaged and Involved in Global Climate Policies: Treasury

November 19, 2021
AustraliaAustralia economyclimate policynet-zero emissionsWorld
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The Australian Treasury Secretary Steven Kennedy warned that the country must do more to keep up with the global standards on climate change or face increasing scrutiny from financial markets. “There might be aspects that do not align with Australia’s national interest,” Kennedy told a public climate forum hosted by the Centre of Policy Development. “We…

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Australian Regulators Keeping an Eye on Its Housing Boom

October 4, 2021
AustraliaAustralia economyAustralia real estateBusiness & EconomyInternationalMarketsOpinionViewpointsWorld
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Commentary Buying a house or apartment in Australia is about to become harder, especially for those who already find it hard. It’s not because there is any prospect of interest rates increasing in the foreseeable future. On the contrary, the Reserve Bank of Australia sets the key cash rate that does more than any other…

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Australia’s ‘China Plus’ Strategy Angers Beijing

September 25, 2021
Australia economyccp economic coercionOpinionThinking About Chinatrade warViewpoints
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Commentary Australia may have managed to anger the Chinese regime even further with an extensive presentation by its treasurer, which showed that China’s economic war on Australia has largely failed. To make matters worse, the loss in trade with China has largely been compensated by expanded trade with other markets. And perhaps worst of all,…

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Tesla a Bigger Financial Risk to Banks Than Climate Change: Prominent Economist

September 7, 2021
AustraliaAustralia economyAustralian coalBusiness & Economyclimate changeCompaniesEconomiesInternationalteslaUSUS NewsWorld
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Claims that climate change poses a “risk” to the coal industry are “ludicrous,” according to a leading U.S. economist, who has warned Australian members of Parliament not to allow overseas institutions to dictate the country’s development. John Cochrane, a senior fellow at the Hoover Institution at Stanford University and author of “Asset Pricing,” a widely…

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Australia’s Largest Telco Considering Vaccine Mandates for 8,000 Frontline Staff

September 6, 2021
AustraliaAustralia economyBusiness & EconomyCCP VirusCompaniesTelstravaccine mandateVaccines & SafetyWorld
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Another one of Australia’s largest businesses, telecommunications giant Telstra has begun considering a vaccine mandate for 8,300 of its frontline staff. CEO Andy Penn on Monday proposed that the vaccination would be a condition of employment. “More than most other companies our teams stretch across the far reaches of Australia—from our cities to remote outback…

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