The jobless rate has inched 0.1 percentage points higher to 3.8 per cent, with 7000 jobs disappearing from the economy in March. The participation rate fell to 66.6 per cent from 66.7 per cent in February, according to official labour force data from the Australian Bureau of Statistics. “With employment falling by around 7000 people … Read more
The latest surge in the price of bitcoin is increasing the clamor around it, says Dal Bianco, drawing in yet more speculators and creating a “self-reinforcing cycle.” Likewise, when collective confidence in the prospect of further price growth falters, she says, the resultant downturn can be equally sudden. Under these conditions, demand can vanish as … Read more
A major Australian building and construction group spanning four states has collapsed, with the director blaming “impossible” economic conditions and building costs for the company’s downfall. Rork Projects, which describes itself as a national fit-out and refurbishment company, went into administration on Friday after 26 years of operation. The group, which serviced the corporate and … Read more
New data reveals the Australian jobs in which workers received the biggest wage jumps in 2023. The Wage Price Index (WPI) measures changes in the prices of labour, unaffected by compositional shifts in the labour force, hours worked or employee characteristics. The new data was updated on Wednesday to include information from December last year. … Read more
“An artist friend of mine got me an AI-generated painting as a gift. I can see she tried to personalize the concept, and it’s nicely framed, but part of me still feels a little cheated. Is that fair?” —No Returns Dear No Returns, There’s something implicitly paradoxical about feeling “cheated” by a present. A gift … Read more
In late 2021, Labour party members were still licking their wounds after a byelection defeat in Hartlepool, and Keir Starmer was at something of a crossroads in his leadership. He needed something big and bold that would excite his party and get the attention of voters. He was under pressure to match the ambition of … Read more
Economic experts have slammed companies accused of price gouging in a scathing new report accusing supermarkets, energy providers and even airlines of driving up costs for bigger profits. University of Melbourne’s economics professor Allan Fels has delivered an 80-page report to the National Press Club of Australia recommending an investigation into “exploitative business pricing”. WATCH … Read more
The peak Australian community services body says JobSeeker and related government payments must be “urgently raised and without further delay” following the announcement that an additional $115 million in funding will be committed to cost-of-living support services over the next five years. Beneficiaries of the funding include emergency relief organisations, financial counselling and other hardship … Read more
Anthony Albanese insists a broken election promise on tax cuts is the right thing to do in changed economic circumstances, promising middle-income earners an extra $800 a year. The prime minister will use a National Press Club address to outline his case for overhauling stage three tax cuts due to take effect in July. In … Read more
Prime Minister Anthony Albanese has committed to stage three tax cuts, despite growing calls for the measures to be scrapped for other cost-of-living relief measures. The tax cuts were unveiled by the former coalition government in the 2019 federal budget, and are due to come into effect on July 1. WATCH THE VIDEO ABOVE: Albanese … Read more
