Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
Advertisement
Policy

Economy

Today

With unemployment at a 48-year low of 3.5 per cent, and with the number of jobseekers level pegging the number of job vacancies.

Migration the right fix for worker shortages

Increasing immigration is not a substitute for training more Australians. But it’s what is needed now to alleviate the crippling migrant-deprived tightness of the labour market.

  • 1 hr ago
  • The AFR View
Italian Prime Minister Mario Draghi had his resignation rejected by the Italian president.

Italy enters crunch week with Draghi’s government on the brink

Prime Minister Mario Draghi is under mounting pressure to reverse his pledge to resign as soon as this week to avoid throwing Italy into chaos.

  • Chiara Albanese and Tommaso Ebhardt
Australian prime minister Anthony Albanese and Treasurer Jim Chalmers meet with Treasury Secretary Steven Kennedy at Parliament House in Canberra.

How should we judge Albanese Labor on the economy?

By the next election, Australians should know whether Labor is a safe pair of hands. But what would it take to deliver a truly superior economic performance?

  • Richard Holden
Four in five workers believe their performance and in-demand skills warrant pay rises of more than 3 per cent.

Explainer: Are workers getting their fair share of profits?

Comparing total profits and wages over the past two decades reveals a stark divergence between the two, particularly since 2016. But the gap between profits and wages is not quite the full story.

  • Updated
  • Ronald Mizen
Food shopping in Madrid. The ECB has underestimated inflation for the first quarter by a whopping 2 percentage points.

50 is the new 25. How central banks globally are raising rates

Analysts point to signs of a ‘reverse currency war’ as policymakers try to stem imported inflation.

  • Valentina Romei and Tommy Stubbington
Advertisement
Chris Patten says he had hoped Hong Kong would change China rather than the other way around.

Let’s speak facts about China

Striking deals nothing but an idle fantasy; View from the summit: 2020 vision paid off; Mistakes all round in pandemic response; The snag with putting up the price of sausages.

Yesterday

Calls for budget savings to offset COVID-19 payments

Anthony Albanese’s decision to restore the $750 pandemic leave payment before a spike in COVID-19 omicron cases should be offset by budget savings, says economist Chris Richardson.

  • Ronald Mizen
Treasurer Jim Chalmers with RBA governor Philip Lowe and Reserve Bank of India governor Shaktikanta Das.

Never a more important time for the G20

The grouping formed after the Asian financial crisis is now helping the region and global economy navigate the narrow and rocky path out of the pandemic.

  • Sri Mulyani and Jim Chalmers

These three immigration solutions could ease worker shortages

Now is the time for the government to act by extending foreign workers’ visas, encouraging international students to return and motiving skilled migrants to call Australia home.

  • Paul Guerra and Daniel Hunter
Joseph E. Stiglitz, the Nobel laureate economist, at Columbia University in New York.

How a Nobel laureate ruffled a few feathers in Australia

Joseph Stiglitz has never been afraid of expressing heterodox views about economics that leave mainstream thinkers perplexed – his trip here is no different.

  • Ronald Mizen
International Monetary Fund managing director Kristalina Georgieva with Saudi Arabia’s Finance Minister Mohammed al-Jadaan at the G20 meeting in Bali.

‘Shock after shock after shock’: IMF will cut growth outlook

The International Monetary Fund’s director for strategy and policy says surging prices, the pandemic and China’s slowdown are making things difficult for policymakers.

  • Yudith Ho and Michelle Jamrisko
There is light at the end of the tunnel for the US economy.

Why this expert says everyone is wrong about a US recession

Mark Zandi says people have never been so pessimistic about the US economy in his 30 years of forecasting. He explains why they are wrong.

  • Michael P. Regan and Vildana Hajric

This Month

Australian Treasurer Jim Chalmers, left, confers with Singaporean Finance Minister Lawrence Wong during their bilateral meeting on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia

Chalmers takes Pacific focus in G20 speech

Treasurer Jim Chalmers has made special mention of Australia’s Pacific neighbours in an address to global finance ministers highlighting the threat of climate change.

  • Nick Gibbs
Sri Mulyani Indrawati, Indonesia's minister of finance, speaks during an interview in Jakarta, Indonesia, on Friday, Aug. 19, 2016. By 2018, Indonesia, Singapore and other countries are due to adopt Organisation for Economic Cooperation and Development reporting requirements to tell each other about their nationals holding assets abroad. Photographer: Dimas Ardian/Bloomberg

G20 finance meeting expected to conclude without communique: sources

Finance ministers and central bankers from the Group of 20 major economies are expected to conclude without a formal communique, as Russia’s war in Ukraine continues to divide the group, sources said.

  • Andrea Shalal and Fransiska Nangoy
CBA tips two more double “business as usual” interest rate rises in August and Septemner.

Brace for two more back-to-back 0.5pc rate rises: CBA

The country’s largest lender is tipping the Reserve Bank will push the official interest rate to 2.6 per cent by year’s end.

  • Ronald Mizen
Advertisement
Prime Minister Anthony Albanese is facing a very challenging set of economic circumstances.

Why the jobs boom is cold comfort for mortgage holders

Australia’s labour market is running white-hot. But with employment success comes pressure to raise interest rates, and the country is also facing a skills crisis.

  • Ronald Mizen
Treasurer Jim Chalmers with Reserve Bank governor Philip Lowe and Reserve Bank of India governor Shaktikanta Das at the G20 meeting.

Chalmers lashes Russia’s ‘illegal and immoral aggression’ at G20

Addressing a G20 meeting of finance ministers and central bank governors in Bali, Dr Chalmers said Russia’s invasion of Ukraine was a major obstacle to the group’s goals.

  • Ronald Mizen
Former NSW Deputy Premier John Barilaro.

NSW’s ICAC may already be tapping ministerial phones

A retired judge wants the feared anti-corruption agency to investigate a former deputy premier’s job offer, but ministers think it may have already begun.

  • Aaron Patrick
Industrial output rose 3.9 per cent in June from a year earlier, up from May’s increase of 0.7 per cent.

China’s growth slows sharply as COVID-19 policy takes a toll

Beijing’s economic growth plunged to 0.4 per cent over a year earlier in the latest quarter, after Shanghai and other cities were shut down to fight COVID-19.

  • Updated
  • Malcolm Scott
Workers at Sydney Football Stadium.

Roaring jobs to spur interest rate rises

Stunning June jobs data all but guarantees the Reserve Bank of Australia will lift the official interest rate by 0.5 percentage points for a third straight month to 1.85 per cent in August, with some economists even tipping a 0.75 percentage point increase.

  • Updated
  • Ronald Mizen