Australia’s Gender Pay Gap Persists

The national gender pay gap among private companies currently sits at 21.1 per cent. While it has improved slightly over the past year, women still earn $28,425 less than men on average. The gap is even wider for women in their late 50s who typically earn $53,000 less per year…

Australian Labour Market Holds Steady

Full-time jobs increased by 9,700 while part-time positions were up 6,200. The pace of job growth slowed compared to previous months where increases averaged 0.3 per cent/month. The figures suggest that the Reserve Bank of Australia (RBA) may have overestimated their earlier forecast of 4.3 per cent by the end…

Australian Dollar Falls Amid Global Uncertainty

This downturn comes as markets react to the potential for a Donald Trump presidency and the associated risks of increased tariffs on China. Just weeks prior, the Aussie dollar was at an 18-month peak, trading close to US70 cents. However, a combination of geopolitical tensions and economic forecasts has prompted…

Australians Delaying Retirement Due to Mortgages

This trend has become particularly pronounced among those aged 55 to 64, a demographic that has seen homeownership without a mortgage nearly halved over the past two decades. Many are facing the harsh reality of continuing to work well into their late sixties, driven largely by substantial mortgage debts. Linda…

Australian Startup Investments Decline

According to the latest report from Cut Through Venture, investments plummeted from $1.5 billion in the June quarter to $695 million. This downturn has been largely attributed to a lack of transactions exceeding $100 million, with capital raises above $50 million also reaching multi-year lows. In response to these challenges,…

Australian Government to Tackle Shrinkflation

This phenomenon occurs when brands reduce the quantity of a product while maintaining the same price, often in the hope that shoppers won’t notice the subtle changes. Major retailers have faced scrutiny from the competition watchdog for alleged deceptive pricing practices, leading to discussions about zoning law reforms and a…

Report Shows Australians’ Distrust in Supermarkets

This report marks the midpoint of a comprehensive year-long investigation initiated by Prime Minister Anthony Albanese in January, aimed at assessing the market power of these retail giants and any barriers new competitors may face. As part of its inquiry, the ACCC engaged with over 21,000 customers, who expressed rising…

Australia Employment Holds Amid Economic Changes

The latest data from the Australian Bureau of Statistics (ABS) indicates that the number of employed rose by 47,500, while the unemployed population declined by 10,500 in seasonally adjusted terms. This consistent rate of 4.1 per cent in trend terms has been maintained for three consecutive months. Reserve Bank officials…

RBA’s Inflation Struggle Amid Rising Unemployment

According to the RBA’s chief economist, Sarah Hunter, while unemployment is projected to rise further, it is not yet sufficient to curb persistent inflationary pressures. Recent data reveals that unemployment has climbed to 4.2 per cent as of July, a notable increase from the 3.5 per cent recorded a year…