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The Latest Breaking News from Callam Pickering

‘Highly probable’: RBA tipped to hike interest rates in June after wage data

Economists are predicting another interest rates hike after wage growth rose in the March quarter, with risks around low productivity growth.

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‘Resilient’ jobs market foreshadows more interest rate hikes, economists say

Australia’s jobs market showed little signs of slowing in March despite almost a year of interest rate hikes, economists said.

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50-50: RBA mulls rate hike as retail sales slow

Australians are spending less time at the shops as sky high inflation and rapidly rising interest rates eat into retail sales.

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Household wealth sinks by $57 billion while consumer confidence takes a dive

Australians are expected to spend less on big ticket items like cars and furniture as household wealth plunges amid sky high inflation.

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‘Inflation has peaked’: RBA hikes interest rates again and signals more as economy slows

The Reserve Bank has raised interest rates for the 10th straight meeting in a row and continues to flag more hikes in a bid to curb inflation.

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Economists back tourists and international students to keep Australia out of recession

Sharp interest rate hikes are putting families under pressure, slowing economic growth, but a tourism rebound is providing recession optimism.

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Walking the ‘narrow path’: Will Australia avoid a recession in 2023 as Jim Chalmers predicts?

Treasurer Jim Chalmers isn't predicting a recession in 2023, but experts say the risk is rising as consumer spending slows.

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The jobs market posted its best year in decades, but wages haven’t kept up

Australia’s jobs market has finished 2022 in a remarkably strong position, but there's a mystery underneath that's hurting most workers.

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‘Mighty’ shoppers drive the economy as millions splurge before Christmas

The strength of consumers spending right now has many economists scratching their heads ahead of Christmas but a "reckoning" looms.

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‘Wouldn’t want to trade’: Why Australia’s inflation battle pales in comparison to global woes

Times are tough in Australia right now, but Reserve Bank boss Philip Lowe doesn’t think you’d want to be anywhere else.

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Smarter Australia: Census reveals sectors with massive growth

Australia is rapidly transforming into a highly qualified nation where vast numbers are taking jobs in fields like cybersecurity.

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Christmas chaos looms as businesses face severe worker shortages

Australians are being warned to expect longer queues at restaurants and shopping hubs over the Christmas holidays as businesses struggle.

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‘Not a pretty picture’: Labour shortage pinch this Christmas

Australia's worsening hospitality labour shortage is sparking fears the Christmas rush could be the final straw for remaining workers.

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Economists discount unemployment rise amid ‘bright’ jobs outlook

Australia's unemployment rate ticked up for the first time in 10 months as more Australians looking for work offset a solid rise in jobs.

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Consumers drive the economy by spending savings, but inflation is set to hit hard

A massive number of Australians spending their lockdown savings on holidays and eating out drove above-trend economic growth over the June quarter.

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‘Deeply negative’: Real wages plunge at fastest rate on record before jobs summit

Australian households are suffering under the sharpest decline in real wages on record as “sluggish” purchasing powercontinues to lag soaring prices.

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‘Inflation spiral’: Price rises broaden as households face supermarket squeeze

Households are being squeezed at the petrol pump and increasingly at the supermarket as Australia's cost-of-living crisis continues to worsen.

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‘Dangerous’: ATO hands out $5.7 billion in tax refunds in July as inflation soars

The federal government has paid out $5.7 billion in tax refunds to households in July amid warnings the stimulus will worsen soaring inflation.

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‘Secret weapon’: Female jobs boom drives COVID recovery as unemployment rate falls

Women have emerged as a “secret weapon” driving Australia’s world leading COVID recovery, with a huge rise in female jobs easing labour shortages.

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‘A taste of what’s to come’: Home owners slugged with second rate hike

Home owners could see their monthly mortgage bills rise by hundreds of dollars in coming weeks after a second RBA rate hike in as many months.

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‘Devastating’: Households suffer biggest real pay cut since 2001

Australian households are suffering the worst cost-of-living squeeze in more than two decades, with real wages falling at the fastest pace since 2001.

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‘Desperate’: Record number of Australians take on multiple jobs

Australians are taking on multiple jobs in record numbers as a lack of well-paid, full-time work forces employees to juggle several roles to make ends meet.

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No need to apply: New graduates find a wealth of job offers waiting for them

The pandemic changed the face of the Australian workforce, but university graduates are being flooded with offers – without having to apply for jobs.

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‘Slightly elevated’: New data shows Australia’s Great Resignation is a myth – at least so far

The latest ABS data suggests the great resignation is actually a big fizzer in Australia, with the number of workers leaving their jobs only up slightly.

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Mortgage rates to rise sooner as inflation surge derails RBA plans: Economists

Australians may face higher mortgage rates sooner than expected as economists warn soaring prices for essentials put the Reserve Bank under pressure. %

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