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News
'Outdated' laws are costing teenage workers thousands
3+ hour, 39+ min ago (452+ words) A teenage worker today could be more than $11,000 poorer when they retire due to an "outdated" workplace law, an advocacy group says. The short-changing affects more than nine in 10 workers younger than 18 and hits women harder than men, according to…...
Housing affordability rises as price downturn continues
1+ day, 1+ hour ago (597+ words) Three decades of home prices outpacing incomes could be over as Australia's housing market downturn widens. The market recorded the largest single-month decline in home values in almost four years in July, data released by property analysis firm Cotality shows....
Higher rates and pricey petrol as economic outlook dims
1+ week, 4+ day ago (400+ words) Australia's resilient labour market continues to be a bright spot in the nation's economy. But despite the addition of more than 76,000 jobs in June, dark clouds are gathering on the horizon. After the Australian Bureau of Statistics released another strong…...
Rate hike on the table after surprise jump in jobs
1+ week, 5+ day ago (602+ words) A surge in new jobs in Australia's economy has kept alive the possibility of another Reserve Bank rate hike as renewed conflict in the Middle East reignites inflation fears. While the unemployment rate came in line with forecasters' expectations at…...
In a world where everything seems busted, here's the surprising truth about our economy
1+ week, 5+ day ago (803+ words) The word of the day is resilience. It was in the title of the Treasurer's budget speech and then appeared another 13 times after that. In the budget papers themselves, it appeared a whopping 170 times. It's sort of ironic. By any…...
Our economic chickens are coming home to roost. This is why
1+ mon, 3+ week ago (934+ words) Last week's National Accounts made for difficult reading. After what had been nascent improvement, the nation's quarterly report card showed the economy slipping back into mediocrity. And we need to prepare ourselves for worse to come in the June quarter…...
Officials bank on economic slump helping tame inflation
1+ mon, 4+ week ago (615+ words) Australia's economy is going into a slowdown, which will eventually bring inflation under control. That is the view of the Reserve Bank after officials appeared before a senate estimates hearing on Thursday, where they said a decline in momentum in…...
Temporary fall in inflation won't ease RBA fears
2+ mon, 1+ week ago (636+ words) The Strait of Hormuz is still closed and supply disruptions are still pushing global prices up yet fresh data is expected to show Australia's headline inflation is on the way down. Even so, the Reserve Bank won't be declaring mission…...
'These numbers are obscene': Exactly how much Australian banks are making on your home loan
2+ mon, 2+ week ago (495+ words) Lending money to home buyers is almost as profitable as mining in Australia, with the big four banks joining Rio Tinto and BHP in the top six most profitable companies in the nation. While rising interest rates and the cost…...
'Decline': housing downturn looms as rate hikes bite
2+ mon, 3+ week ago (459+ words) Australia is on the cusp of a housing market downturn as interest rates and affordability woes sap buyer demand, new data suggests. Sydney and Melbourne are already in the early stages of decline while price growth across the mid-sized capitals…...