Unemployment rate falls to 5.5pc as full-time job creation continues to boom

"Australia's unemployment rate has tumbled to 5.5 per cent as another 42,200 jobs were created in May. In seasonally adjusted terms, the number of full time jobs rose by 52,000, while part time employment fell by 10,000. It is the eighth consecutive month full time employment has risen, with 124,000 full time jobs created since … Continue reading Unemployment rate falls to 5.5pc as full-time job creation continues to boom

PM moves to quell backbench over clean target

Under a CLEAN ENERGY TARGET proposed by the Finkel review of the Electricity sector, Australian's could save about $90 a year, or up to $1000 on their electricity bills over a decade to 2030.  However amidst Government Conservative backbench outcry, at a Council of Australian Governments meeting, Prime Minister Malcolm Turnbull promised a CET was "no … Continue reading PM moves to quell backbench over clean target

Could the US exit from the Paris climate deal actually be a win for the environment?

Some climate advocates are saying the United States' withdrawal from the Paris climate change agreement could actually be a good thing, and will drive international resolve to limit global warming. Luke Kemp, climate and environmental policy lecturer at the Australian National University, called America's participation in the deal "purely symbolic." "There could be other opportunities, other countries such as … Continue reading Could the US exit from the Paris climate deal actually be a win for the environment?

Inflation driven up by higher fuel and health costs in the first quarter

"Australia's inflation rate has edged up in the first three months this year, driven by higher fuel and health costs. Headline inflation rose by 0.5 per cent over the first quarter to an annualised rate of 2.1 per cent. Underlying inflation — the measure most keenly observed by the Reserve Bank, which strips out volatile … Continue reading Inflation driven up by higher fuel and health costs in the first quarter

Australia’s ‘mojo back’ RBA at bay

The release of the national accounts by the Australian Bureau of Statistics on Wednesday saw gross domestic product grow 2.4% in 2016, the strongest result in four years, after strong surges in the mining, agriculture, forestry and fishing industries The Bank of Melbourne's chief economist, Besa Deda, said the expansion looked set to continue throughout … Continue reading Australia’s ‘mojo back’ RBA at bay

Hug a farmer, they’ve saved our bacon

Agricultural growth surged by an extraordinary 27.6 per cent in 2016, the latest Australian Bureau of Statistics national accounts have revealed, following a record harvest in every state. While agriculture enjoyed leaps in growth, the traditional driver of the Australian economy ­ mining ­ grew by just 4.6 per cent. Retail struggled, and manufacturing and … Continue reading Hug a farmer, they’ve saved our bacon

Wellbeing Index reveals life got better for Australians in 2016

3rd March 2017 Wellbeing Index reveals life got better for Australians in 2016   Australia's collective well  being grew more than twice the rate of the economy last year. The Fairfax-Laternal Economics well-being index which provides a broader measure of national welfare than economic figures-rose 5.8% in 2016. That compares with the annual GDP growth … Continue reading Wellbeing Index reveals life got better for Australians in 2016

Extreme heatwave days already hitting poorer nations more than rich

5th March 2017 Extreme heatwave days already hitting poorer nations more than rich   "Everyone's spoken for years about how poor countries are going to suffer more-or are suffering more-and I couldn't find one figure actually showing this," Nicholas Herold at the Climate Change Research Centre at the Universty of NSW said.than richer ones since … Continue reading Extreme heatwave days already hitting poorer nations more than rich