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We have a terrible living standards problem owing to our immigration-led, labour market expansion economic model, which devours productivity. On the other hand, we have a technological breakthrough that is all about productivity (in theory, anyway). There are two versions of AI developing – those with global tech businesses who already have a foot in

The post Let AI destroy the Aussie economy appeared first on MacroBusiness.

Victoria wants the federal government to step up on offshore wind, but one CEO wants the country to focus on the winner they've already picked - Gippsland.

This is a good decision. The Fair Work Commission has awarded an increase of 3.5% to up 2.6 million workers on minimum award rates to allow for low-paid workers to catch up on real wage cuts suffered during the pandemic. The increase will lift the national minimum wage from $24.10 an hour, or $915.90 a

The post Real wages get welcome boost appeared first on MacroBusiness.

NSW Premier Chris Minns aims to alleviate Sydney’s housing crisis by expediting the supply of shoebox apartments. Minns last week accused previous governments of being “timid” due to “the NIMBY [Not In My Backyard] backlash” but argued that the conversation had changed to “opening the gates to more urban consolidation and development”. “I think Sydneysiders

The post Minns gaslights Sydneysiders on housing crisis appeared first on MacroBusiness.

Cotality (formerly CoreLogic) has reported a tightening in rental vacancy rates over recent months. This tightening is illustrated below by Justin Fabo from Antipodean Macro. Vacancy rates have tightened across the board and are tracking below 2% across all capital city markets. Despite the lower vacancy rates, Cotality reported a moderation of annual asking rents

The official Q1 CPI inflation print from the Australian Bureau of Statistics (ABS) showed that the policy-important trimmed mean inflation rate declined to 2.9% year-on-year, within the Reserve Bank of Australia’s (RBA) inflation target of 2% to 3%. RBA Governor Michele Bullock’s media appearance following last month’s 0.25% rate cut suggested that she was less

The post Australia’s inflation continues to fall appeared first on MacroBusiness.

It was all about the TACO trade overnight as Wall Street rallied on an extension of Chinese tariff pauses despite a lot of vitriol between Trump and the Middle Kingdom about breaking the recent trade deal. Meanwhile the Trump regime is still waiting on “best offers” from other nations with a new Wednesday deadline which

The post Macro Morning appeared first on MacroBusiness.

Plans to install a four-hour big battery next to the largest operating pumped hydro generator in Australia have been submitted for federal environmental assessment.

Cotality’s (formerly CoreLogic) latest housing affordability report showed that the cost of purchasing and renting a home in Sydney was the worst on record at the end of 2024, as well as the highest in the nation. As illustrated above, Sydney’s dwelling value-to-income rate was 9.8 at the end of 2024. It required a typical

The post Sydney’s housing market eats its young appeared first on MacroBusiness.

For this podcast Ben interviews two scrutineers about their experience in the recounts: Adelaide, a Liberal scrutineer from Bradfield, and KJ, an independent scrutineer from Goldstein. Ben also discusses the recount procedures he saw in Bradfield last week and the latest count updates from Monday afternoon.

We now see why 1999 was a big year for environmental vandalism: Plus: Changing of the guards, Dan Tehan's career path, Matt Kean's generational challenge.

Offshore wind developers say output is similar to brown coal it designed to replace, and can also displace gas in winter peaks.

This is a fairly accurate assessment from Bloomberg on why Australia is stuffed. They even manage to address the externalities of immigration without getting wowserish about it. A few quick points I will add: Restoring Australian manufacturing now would take a war. At 5% of GDP, it’s all but gone. Therefore, there is no productivity

The post Bloomberg destroys The Lucky Country appeared first on MacroBusiness.