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Friday, April 26, 2024

Latest news: Economy

ACT tops economic charts, but faces business investment decline

Canberra's economy is leading the nation in earnings, employment, and retail growth, but business investment is plummeting, data shows.

Storm clouds loom for economy as rain, floods take toll

The fallout from severe storms in Queensland could lead to consequences for the economy and budget bottom line, Treasurer Jim Chalmers has warned.

COVID-19 costing the Australian economy billions

COVID-19 is costing the Australian economy billions in lost worker productivity and healthcare spending. The pandemic may be moving into the endemic phase but the virus is still wreaking havoc on the health...

Canberra Liberals blame Chief Minister for credit rating downgrade

The ACT's credit rating was downgraded from AAA to AA+ last month - and deficits could be larger and more prolonged than forecast.

Is music at the heart of Canberra’s nighttime economy?

With plans for Canberra to become a destination city, how do we boost our nighttime economy?

Wages to lift 5.75 per cent for lowest paid workers

Millions of low paid workers will enjoy an 5.75 per cent pay boost that will still fall shy of the rising cost of living.

National care economy strategy revealed

Prime Minister Anthony Albanese has vowed to focus on fixing the nation's aged care, disability, veterans services, and early childhood systems.

Economic momentum starting to ebb across all states

Employment growth is easing in the ACT, which is also the only jurisdiction where rents have not been lifted.

Labor says gig worker reforms won’t capture tradies

The employment minister says new rules to bolster protections for gig workers will not apply to contractors and tradies in construction. 

Budget matters amid cost of living crisis across nation

Economic output and similar markers aren't the best measures of wellbeing but momentum is growing to tackle issues that fall between the pages of the budget.

Economic benefit going to rich ‘inequality on steroids’

A disparity between how much of the economic benefits the vast majority of Australians get compared to the top end of town has been described as "inequality on steroids".

ACT tourism economy rebounds post pandemic

The ACT's tourism economy rebounded last year, according to the National Visitor Survey and International Visitor Survey released today by Tourism Research Australia (TRA).

Government urged to prioritise local business in next ACT budget

The ACT’s peak business group has called on the ACT government to invest in major infrastructure projects and to cut red tape to deliver economic benefits ahead of the next ACT Budget.

Australia’s growth prospects still looking downcast

Australia's growth outlook remains subdued as turmoil in the global banking system adds to the pressures already weighing on advanced economies.

RBA minutes, speech scoured for cash rate clues

The minutes from the Reserve Bank of Australia's last board meeting will offer some context for the last cash rate decision and, hopefully for borrowers, further signs the bank is readying for a pause. 

Major surgery prescribed to boost nation’s productivity

Boosting productivity in service industries such as education and health will be central to shoring up Australia's future prosperity.

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