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Economy news

Want to know what’s happening with the Australian economy? We’ve got it covered.

We guarantee the most up-to-date new stories about the economic climate, issues and so on, which are written by local and international reporters exclusively for you.

Australia Retail Sales Rise

22 June 2020 In: Economy, General

Australia retail turnover rose 16.3 per cent in May 2020, the biggest such increase in almost 40 years. It is the largest seasonally adjusted rise ever published in the 38 years of the ABS Retail Trade survey, following the largest ever fall of 17.7 per cent in April 2020. Turnover rose 5.3 per cent when compared to May 2019. These figures show rises in every industry. In percentage terms, the rises are particularly strong in…

Australia population growth

21 June 2020 In: Economy, Family, General

Australia population growth increased by 1.4 per cent during the year ending 31 December 2019, according to the Australian Bureau of Statistics. ABS Demography Director Lauren Ford said: “The population at 31 December 2019 was 25.5 million people, following an annual increase of 349,800 people.” Natural increase accounted for 39.8 per cent of annual population growth, while net overseas migration accounted for the remaining 60.2 per cent. There were 305,800 births and 166,700 deaths registered…

Australia Jobs in May

20 June 2020 In: Jobs, Economy, General

Australia Jobs were lost in May as employment decreased by 227,700 people between April and May, according to the Australian Bureau of Statistics. The drop in employment, of close to a quarter of a million people, added to the 600,000 in April, brings the total fall to 835,000 people since March. In two months, the percentage of people aged 15 and over employed in Australia decreased from around 62.5 per cent to around 58.7 per…

Australia Property Prices Rise

17 June 2020 In: Property, Finance, Economy, General

Australia Property Prices rose 1.6 per cent in March quarter 2020, according to the Australian Bureau of Statistics. All capital cities recorded a rise in residential property prices in the March quarter 2020, with Australia’s two largest cities, Sydney (+1.9 per cent) and Melbourne (+2.1 per cent), continuing to lead the rises. House prices rose 2.6 per cent in Sydney and 2.3 per cent in Melbourne, while attached dwelling prices rose 1.5 per cent in…

Australia Jobs by State

17 June 2020 In: Jobs, Economy, General

Australia Jobs by State: Since the week ending 14 March 2020 (the week Australia recorded its 100th confirmed COVID-19 case) the largest changes in Australia Jobs were: Payroll jobs: Tasmania decreased by 9.5% and Victoria decreased by 9.0% Total wages: Western Australia decreased by 10.7% and Tasmania decreased by 10.2% Between the week ending 23 May 2020 and the week ending 30 May 2020, the largest changes in Australia Jobs were: Payroll jobs: Northern Territory…

Australia Jobs Increase

11 June 2020 In: Jobs, Economy, General

Australia Jobs may have been impacted by COVID-19 in the past three months but over past 12 months employment has increased. According to the Australian Bureau of Statistics the number of filled jobs grew 1.7% through the year in seasonally adjusted terms. Biggest rise in jobs occurred in the following sectors: Health care and social assistance Retail trade Professional, scientific and technical services Construction Education and training Impact of the COVID-19 emergency has been felt…

Australia Economy Growth

10 June 2020 In: Jobs, Economy, General

Australia economy: the country is coming out of the crisis in better shape than expected and unemployment is unlikely to hit double figures. That’s the view of analysts and government ministers down under following a review of the ongoing COVID-19 situation. ”Australia seems to have avoided the expected cycle of destruction and economic growth could soon start to accelerate. Australia is still the ‘lucky country’”, says Darrell Todd, ceo of thinkingAustralia. For the first time,…

COVID-19 Hits Cash

10 June 2020 In: Finance, Technology, Economy, General

COVID-19 has accelerated Australia’s move to a cashless society. The Coronavirus emergency has changed, possibly forever, the key ways in which Australians handle money. The lockdown restrictions have seen consumers shun cash with phone and card taps now dominating checkouts. COVID-19 Hits Cash Digital payments have also been propelled by a big increase in online buying and home-delivered groceries and meals. In just 10 weeks Australia has undergone a digital banking revolution that bank chiefs…

Tasmania Jobs Boost

09 June 2020 In: Jobs, Tasmania, Economy, General

Tasmania Jobs Boost: A government incentive to boost the economy of Tasmania will see a massive construction boom in the next couple of years. The Tasmania government has announced plans to spend $3.1 billion on infrastructure to stimulate its economy over the next two years. The program of works is designed to immediately stimulate the economy, boost private investment, and give Tasmanian businesses and workers certainty, said Michael Ferguson, Minister for Infrastructure and Transport. The…

Online Retail Boost

09 June 2020 In: Finance, Economy, General

Online Retail sales across Australia rose to $2,703m in April making up 11.1% of total retail sales. The figures show an almost 5% increase in online retail purchases during the month. In March 2020, online retailing made up 7.1% of total retail sales. In original terms, online sales rose 26.4% in April, following a rise of 23.5% in March 2020. Rises were seen in the online sales of both pure-play and multi channel retailers. Online…

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