MacroBusiness

MacroBusiness is Australia’s top blog focusing on business and investment topics. Its goal is to connect the gap between the Australian business media and the actual economic situation. The existence of this gap, without the need for strict control, highlights the influence of vested interests, monopolies, ineffective governance, narrow-minded ideologies, and a longstanding culture of populism. As a result, our leaders can make significant economic and business mistakes without facing proper accountability, often being judged by unsuitable standards.

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Aussie renter fights back!

3 weeks ago | macrobusiness.com.au | Leith van Onselen

For years, Macro Business has sounded the alarm about Australia’s immigration-driven housing crisis. The data is indisputable. Australia’s rental affordability has plummeted to a record low, with households forced to devote a record portion of their income to rent a home. AdvertisementRents have risen about 50% nationwide since the pandemic’s beginning, driving the rental affordability collapse.
Easter long weekend links and media appearances

3 weeks ago | macrobusiness.com.au | Leith van Onselen

International Reading:Stock Market Plummets as Fed Chair Powell Gives Dire Warning: Donald Trump’s policies are about to destroy the economy.
Aussie housing market stalls awaiting rate cuts

3 weeks ago | macrobusiness.com.au | Leith van Onselen

CoreLogic released its final auction results for last weekend. The clearance rate was just 59.9% nationally, the second time in three weeks it has been below 60%. The following chart plots the monthly average final auction clearance rate across the major markets. AdvertisementAs you can see, the decline in the national final clearance rate has been driven by Sydney, with Melbourne’s falling by a smaller amount.
Labor's university bias will worsen skills shortages

4 weeks ago | macrobusiness.com.au | Leith van Onselen

The Albanese government’s Australian Universities Accord Final Report set a target of 55% of young Australians having a university degree by 2050. The report states that to meet its 55% university attainment target, “the system will need to more than double the number of Commonwealth-supported students in universities from 860,000 currently to 1.8 million by 2050”. MacroBusiness has always argued that too many young Australians are studying at university instead of TAFE and vocational education.
Aussie rental affordability hits fresh low

4 weeks ago | macrobusiness.com.au | Leith van Onselen

At the end of 2024, CoreLogic reported that rental affordability hit a record low, with the median-income household required to spend 33% of their income to rent the median home. Last month’s rental affordability report from PropTrack also showed that households at the end of 2024 could afford to rent the smallest share of advertised rentals since at least 2008, when its records began.
Job market leaves door open for rate cuts

4 weeks ago | macrobusiness.com.au | Leith van Onselen

The Australian Bureau of Statistics (ABS) released its March labour force report, which was steady as she goes. There were 32,230 jobs created over the month, below economists’ expectations of a 40,000 increase. The national unemployment rate remained fairly steady at 4.1% thanks to a slight increase in the participation rate. The underemployment rate was also flat. AdvertisementHowever, the number of hours worked fell by 0.3% and it has been falling for three consecutive months.
Posh Teal MP gaslights on housing, environment

4 weeks ago | macrobusiness.com.au | Leith van Onselen

Is there a bigger gaslighter in Australian politics than Teals MP for Wentworth, Allegra Spender? The self-styled climate crusader inherited a luxury Woollahra mega-mansion worth tens of millions of dollars:She has also owns a lovely weekender at Pittwater:AdvertisementThe full text of this article is available to MacroBusiness subscribers$1 for your first month, then:Cancel at any time through our billing provider, StripeLeith van Onselen is Chief Economist at the MB Fund and MB Super.
Victorians 'snookered' by 'railway to nowhere'

4 weeks ago | macrobusiness.com.au | Leith van Onselen

It is sounding like Groundhog Day for Victorians. When Labor came to government in Victoria in 2014, it immediately cancelled the East-West Link project, which cost taxpayers $1.1 billion in compensation. Last year, Labor cancelled the Commonwealth Games, which cost Victorian taxpayers $600 million in compensation.
Australia's job market 'structurally weak'

4 weeks ago | macrobusiness.com.au | Leith van Onselen

Seek released its latest employment report for Australia, which suggests the job market is deteriorating. The number of jobs advertised on Seek fell by 3.0% in March and was 12.8% lower year-over-year. Ad volumes declined in every state and territory. The full text of this article is available to MacroBusiness subscribers$1 for your first month, then:Cancel at any time through our billing provider, StripeLeith van Onselen is Chief Economist at the MB Fund and MB Super.
Australian dollar surges back to life

4 weeks ago | macrobusiness.com.au | Leith van Onselen

The Australian dollar has rallied strongly against the US dollar after hitting a two-year low following the announcement of President Trump’s “Liberation Day” tariffs. The Australian dollar has rebounded to 0.64 US cents, effectively returning to its pre-tariff announcement level. The rebound partly reflects weakness in the US dollar against all currencies as the Greenback flirted with two year lows, and investors favoured other havens.