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| | | ... was widely expected, the RBA was quick to diffuse any hopes of a quick cutting cycle. "A range of indicators suggest that labour market conditions remain tight and, in fact, tightened a little further in late 2024," RBA governor Michele Bullock said. ... |
| | | | ... the number of dwellings completed per hour by housing construction workers has declined by 53% since 1995. Conversely, labour productivity in the broader economy increased by 49% over the same period. "To put this 'productivity gap' in perspective ... |
| | | | ... Economics associate director and lead author Sheraan Underwood said. "At the same time, operating costs continue to increase. Labour costs are above their long-run average and are expected to remain so through 2025, while non-labour costs such as energy ... |
| | | | ... policy". Powell also flagged that while the central bank wants to see inflation decelerate more, he did not want to see the labour market "cool off" more. Chalmers said Australia was not having to play the same balancing act. "Many countries around the ... |
| | | | Australia's labour market has remained strong in the December 2024 read, according to the Australian Bureau of Statistics (ABS). The seasonally adjusted unemployment rate rose by 0.1 percentage point to 4% in December. "With employment rising by 56,000 ... |
| | | | ... federal election. "Moreover, a significant factor contributing to the stickiness of inflation in Australia is stagnant labour productivity growth, which has left the economy still operating near its capacity despite softening demand," Feng said. However ... |
| | | | ... predicated on the requirement that a rate cut was supported by data. "We do not see current data as supportive of that. The labour market in particular has proven resistant to disinflation measures, with the most recent data showing unemployment has ... |
| | | | ... Productivity Commission to declare revitalising productivity growth as a national priority. September quarter figures showed labour productivity has fallen 0.8% through the year, affecting both the market and non-market (government-dominated) sectors. ... |
| | | | ... and the net zero transformation. "Weak productivity has been a feature of our economy for some time, with average annual labour productivity growth in Australia over the decade to 2020 falling to the lowest level in 60 years," Chalmers said. "Australia's ... |
| | | | ... 36,000 people and the number of unemployed decreasing by 27,000 people, the unemployment rate fell to 3.9%," ABS head of labour statistics David Taylor said. "In November we saw a higher than usual number of people moving into employment who were unemployed ... |
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