#Economy
Despite hits, Australia’s economy holds ground
Key highlights in Australia's economy: recent CPI, inflation, retail trade, labor force stats; 2023 Intergenerational Report; business and consumer sentiment.
Victoria’s economy has recovered to pre-pandemic levels: report
According to the NAB Monthly Business Survey, business confidence in Victoria was the highest of any state.
U.S. Federal Reserve signals rate hikes in March
U.S. central bank, the Federal Reserve, has decided to maintain its interest rate at the current record low. For now.
What happens when the cash rate goes up?
A policy analogy describes the nation as a farm. The RBA is in charge of irrigation on this farm. What happens when they turn the water off?
US faces highest inflation in almost half a century
Inflation in the US has hit a 40 year high. But, where is inflation coming from, and what does it mean for the US economy?
A significant increase in hospitality jobs available on Supp
The technology platform ‘Supp’ is witnessing a major increase in available jobs for hospitality workers as Australia rebuilds its economy.
VentureCrowd and Uniseed Partnership announced to back ‘home-grown’ innovation
Australian company, VentureCrowd, announces partnership with Uniseed to support Australian research.
Budget 2021’s $1.2 billion digital strategy; myGov & My Health sites overhaul, tax incentives, e-invoicing and more
The Digital Economy Strategy will see a further $800 million added to measures put forth in the 2020 Budget, aiming to make Australia one of the world’s leading digital economies.
New digital platform to drive growth of Aussie agriculture
GrowAG, a new online sharing digital platform, will connect Australian agricultural innovation to the rest of the world.
Australian small business revenue rises above pre-pandemic average as jobs recover
New data from Xero shows that small businesses have recorded a positive revenue growth for nine consecutive months despite snap lockdowns.
Automation: The business essential as Australia’s economy rebuilds
A year into the pandemic, we can clearly see how automation has allowed businesses to not only continue, but in many cases accelerate…
Investment NSW to boost economy and jobs as part of COVID-19 recovery
The NSW Government has today opened its Investment NSW agency, which aims to maximise economic benefits and jobs for NSW.
Increased stress, prioritising diversity and inclusion: New report shows state of HR industry a year on from COVID
Digital Recruiting Company HireVue has published a new study on the effects of the COVID-19 pandemic on Australia’s hiring industry.
Faster global vaccine rollout could boost Australia’s economy by $17bn: KPMG
A new analysis by KPMG has revealed that a faster international rollout of vaccines could boost the Australian economy by $17bn and generate up to 40,000 jobs.
Social and economic costs from COVID-19 to persist long after the pandemic, says World Economic Forum
The World Economic Forum's Global Risks Report 2021 has unveiled an alarming risk outlook of short-term healthcare battles and long-term environmental damage and social fragmentation. "The immediate human and economic cost of COVID-19 is severe. It threatens to scale back years of progress on reducing poverty and inequality and to further weaken social cohesion and […]
‘Print money like it’s going out of style’: Mark Pesce
Mark Pesce is a leading futurist, author, entrepreneur, speaker, podcaster and innovator. He has been at the forefront of the digital revolution for thirty-five years and is a sought-after keynote speaker for major conferences and leadership gatherings. Mark aims to bring clarity, understanding and insight. From virtual reality to education, finance, manufacturing, transportation and communication, Mark gives individuals and […]
Australia facing its worst economic contraction in history
The ABS confirmed Australia’s first recession since 1990 after recording two consecutive quarters of economic decline. After being hammered by the pandemic, bushfires and drought, Australia’s GDP plunged by 7 per cent in the April-June quarter. This follows a 0.3 per cent fall in the previous quarter. The 7 per cent fall is also the […]
Startups and digital transformation will be key to COVID-19 recovery
Vu Tran, co-founder at Go1, talks us through why he thinks startups and digital transformation will be key in the economic recovery from COVID-19 in Australia. It would be an understatement for me to say that COVID-19 has changed the world and indeed the way many of us live. In Australia, though tragic in terms […]
Let’s Talk: Opinion on the government’s stimulus packages
During the crisis, the government has unveiled many stimulus packages to support businesses and sustain the economy, including the JobKeeper payment, the early release of superannuation and the halting of property evictions. In dealing with this highly unprecedented event of a pandemic, the Australian government has had to quickly guide all states and territories through potential economy failure and […]
Stimulus package 2.0: What does the $66 billion package mean?
Yesterday the prime minister Scott Morrison announced a second stimulus package of $66 billion to help the economy survive the impacts of the COVID-19 outbreak. The federal parliament could sit for just one day today to pass the government’s stimulus measures as quickly as possible, before members of parliaments reduce meetings for social distancing purposes. […]
Business confidence gets election bounce
Business confidence continues to be bolstered by the coalition’s election win but NAB’s quarterly survey of companies shows conditions have deteriorated. Business conditions have continued to deteriorate and now sit below average for the first time in five years, NAB’s latest quarterly companies survey shows, but there has also been a post-election jump in confidence. The […]
Ideal jobless rate ‘some time away’: RBA
Reserve Bank of Australia board members agreed back-to-back cash rate cuts were necessary to eat into spare labour market capacity, but a high participation rate and an expanding working age population means it will take “some time” to achieve the ideal jobless rate. Minutes from the RBA’s July 2 meeting show members agreed a consecutive […]
The financial challenges small Aussie businesses are facing
Small business is the engine room of the Australian economy and with the numbers of small businesses growing rapidly, allied to the explosion in the ‘gig’ or ‘sharing’ economy, there are thousands of Aussies confronting the challenge of getting a business off the ground for the first time. So, if you’re a budding entrepreneur, what […]
PM sees tax cut as triumph for boosting economy
The passing of $158 billion worth of personal income tax cuts will provide a much-needed short-term boost to economic growth but economists and business groups are already urging the Morrison government to do more. Prime Minister Scott Morrison hailed his government’s first major victory since the federal election as a win for all Australians. “This […]