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The Latest Breaking News from ABS

How many cattle are there in Australia? We may be out by 10 million

Official estimates from the Australian Bureau of Statistics put the national herd at 26 million but a University of Queensland study says there could be up to 35 million

The Guardian - AU

We now know the Reserve Bank has trashed the economy — and for what?

The Reserve Bank was reckless and incompetent when it lifted interest rates back in November, the latest economic data shows.

Crikey

Airbnb says only 1% to 2% of homes in Australia are short-term rentals. What does that really mean for renters?

About 100,000 properties are used for short-term letting – equivalent to the housing shortfall on the horizon. But that comparison may oversimplify the situation

The Guardian - AU

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Malcolm Roberts’ population claim fails its visa check

Despite what the One Nation senator has claimed, the majority of the 2.7 million visa holders in Australia are included in the total 27 million population figure.

Crikey

Wages are finally on the way up, but there’s a long way to go before workers feel relief

After three brutal years for households, concerns higher wages would drive up inflation and thus interest rates appear overblown

The Guardian - AU

Australia records 4.2% annual wage growth, outstripping inflation for the first time in three years

Treasurer says highest annual growth since 2009 ‘encouraging’ but expresses concern over non-compete clauses for employees

The Guardian - AU

Australia’s gender equality depends on properly tracking how women spend their time

Measuring the amount of unpaid labour done by women in Australia is vital in advancing principles of gender equality.

Crikey

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Indonesia beats NZ as top Aussie tourist destination

Indonesia is Australia's favourite overseas holiday destination, beating New Zealand for the first time since tourism records were kept.

AAP

Inflation numbers key drawcard in data-packed week

The fight against inflation has not yet been won but the December quarter consumer price index is expected to show genuine progress.

AAP

Australia's population tips over 27 million

Australia's population has swollen to more than 27 million and continues to grow by one person every 50 seconds.

AAP

Australia sheds 65,000 jobs in December but unemployment rate remains at 3.9%

ABS figures show a steep drop in the participation rate from a revised record 67.3% in November to 66.8% in December

The Guardian - AU

Neither a pandemic nor interest rate rises: can anything dent the Australian housing market?

The entire political focus over the past 40 years has been to keep house prices from falling, or even abating

The Guardian - AU

Jobs data on agenda as signs point to cooling inflation

Experts will examine job data and spending insights for a better idea of how the Reserve Bank will act when it returns for the first time in 2024.

AAP

'Softer' year ahead as spending and loan growth slow

After a year of surging rental prices and cost-of-living expenses, relief could be on the cards for borrowers with economists raising hopes for a soft landing.

AAP

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The Guardian - AU

Retail figures show we’re desperate for a bargain rather than flush with cash. The RBA should take note

When retail spending surges, the Reserve Bank can be tempted to raise interest rates – but analysing the economy requires an understanding of what is happening in the real world.

The Conversation

As Australian supermarkets are blamed over food costs, French grocer Carrefour targets Pepsi for 'unacceptable' price rises

French supermarket Carrefour has fired a warning shot in a price war with global food brands, dropping PepsiCo products last week because of “unacceptably high” increases.

Newcastle Herald

Grocery giants conveniently slash prices, but will a Senate Inquiry go far enough?

It's almost like there's an inquiry in the air ...

The Canberra Times

Canberra couple welcome Christmas baby, as Azlan roars into world

Azlan will share Australia's second-least-common birthday.

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Crikey

Jobs market is still going strong — strong enough to absorb record migration

Australia’s workforce reached a new record in participation in November, as the jobs market continued to grow.

The Guardian - AU

Work-from-home rates fall but skill shortages may delay full return to Australian offices

Staff may be eager to come back to workplaces out of concern about career progression, expert says

AAP

Promising jobs data fuels hopes of soft landing

Despite a higher-than-expected 61,000 jobs being added to the economy in November, the jobless rate lifted to 3.9 per cent.

Crikey

Labor’s not telling its good news story on spending as the economy struggles

The Australian economy struggled to grow just 0.2% in the September quarter — and Labor’s spending was a key reason why growth didn’t go negative.

The Guardian - AU

Australia’s economic growth slows, reducing chance of another interest rate rise next year

Economy grows more slowly than expected, with consumer spending flat under the pressure of high interest rates

Crikey

What is the actual economic benefit of the Grand Prix?

Consulting firm Ernst & Young claims the 2023 Grand Prix gave Victoria an economic benefit of more than $250 million. But upon closer investigation, the numbers aren’t adding up.

Crikey

Shocking news on inflation: Labor’s policies are actually, well, working

On inflation and wages, Labor promised policies to make things better. Turns out, they actually worked. That won’t stop greedy businesses, though.

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