December 2023
The Wellbeing Framework’s metric of greenhouse gas emissions is the same one used by past climate-change denying governments
The most important issue for Australians’ wellbeing is to reduce greenhouse gas emissions and yet the government is not being honest about its progress in the the Wellbeing Framework.
GDP figures are out, and it’s not good
GDP figures out this week show that while Australia is clinging to slight economic growth, under the surface a recession is already being seen. Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. In Dollars & Sense, each week, Greg Jericho
November 2023
Reserve Bank Governor says…go to the dentist less?!
Last week Reserve Bank Governor Michele Bullock told us to think twice about going to the dentist or the hairdresser, lest we contribute to inflation. Greg explains why, frankly, this is a load of Bullock. Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics
Stage 3 Better – Revenue Summit 2023
Presented to the Australia Institute’s Revenue Summit 2023, Greg Jericho’s address, “Stage 3 Better” outlines an exciting opportunity for the government to gain electoral ground and deliver better, fairer tax cuts for more Australians.
The Economy’s Growing, but Households are Poorer
Economic data can tell us a lot about what’s happening in the economy and society, but it’s easy to get lost in data. Introducing the Australia Institute’s brand new podcast, Dollars & Sense, with Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian
Introducing Dollars & Sense with Greg Jericho
Economic data can tell us a lot about what’s happening in society and the economy. Introducing the Autralia Institute’s brand new podcast, Dollars & Sense, with Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. In Dollars & Sense, each week, Greg Jericho will
Introducing Dollars & Sense with Greg Jericho
Economic data can tell us a lot about what’s happening in society and the economy. Welcome to the Autralia Institute’s brand new podcast, Dollars & Sense, with Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. In Dollars & Sense, each week,
With costs rising for public infrastructure, the government needs to stop approving coal and gas mines
In a tight labour market, approving new coal and gas mines is not just bad for the climate, it also raises the cost of public infrastructure projects.
After two years of profit-led inflation, workers deserve the pay rises they are getting
The wage rises for low-paid workers on awards and those working in aged care helped drive the strong wage growth.
Real wages to take over a decade to recover
The RBA now expects real wages to grow much slower than they were predicting in August, and it means it will take many more years to recover what has been lost in the past three.
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The Government needs to act on Stage 3 as the RBA warns about wealthy households spending
The RBA made it clear one group continues to do well, and continue to spend – and they are also the ones who are about to get a massive tax cut.
Real wage falls and rate rises make for a double whammy
When you combine the increase in interest rates and falling real wages, you get a picture of households being hit two ways.
Enterprise agreements deliver strong wage growth – which is why employers hate them
Enterprise agreements lodged in the past 3 months have helped recover some lost income for workers.
When the prices of necessities are rising fast, the RBA does not need to hit households with another rate rise
Cost of living rose by more than inflation because of interest rate rises. Another rate rise would only cause more unnecessary pain.
October 2023
The Reserve Bank should not raise rates on Melbourne Cup Day
Inflation is being driven by things unaffected by interest rate, so there is no reason for the RBA to raise rates in November
Most Australians want Stage 3 scrapped or overhauled
More than two-thirds of Australians want the government to overhaul Stage 3 tax cuts or scrap them altogether, according to new research from the Australia Institute. When asked whether the government should repeal the Stage 3 cuts, 37% support the idea and 24% oppose it. A significant number of people – 39% – remain unsure
Australia is an energy super power, we need to use that power for good
Australia is already an energy superpower, but our governments have lacked the courage to use that power to reduce greenhouse gas emissions
The latest report from the IMF highlights the need for full-employment to be the aim of the government and the Reserve Bank
If the economy grows as slowly as the IMF predicts it will for the next 2 years, Australia will be lucky to avoid a recession.
Enterprise agreements showing the value of bargaining
Enterprise agreements are now delivering strong wage growth and good outcomes for workers.
..Stage 3 Better: A way for the government to deliver better, fairer tax cuts and save money
The Stage 3 tax cuts cost too much, deliver little benefit to those who need it, and leave Australia less fair. We propose 4 ways to make Stage 3 Better
September 2023
Latest figures show workers continue to be the victims, not causes of inflation
The latest data of enterprise agreements shows just how necessary were the changes to the bargaining system made last year, as the number of workers covered by EBA’s remains low.
......Inflation remains headed in the right direction despite higher oil prices
Increases in the prices of commodities like oil and gas are not a reason for the RBA to raise interest rates next week
Enterprise agreements are showing very pleasing signs of strong wage growth
Strong wage growth from enterprise agreements shows the importance of the government’s reforms.
Opening statement to the ACTU Price Gouging Inquiry
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
Starting to see some signs of stronger wage growth from enterprise agreements
Some recent strong wage growth in enterprise agreements bodes well for workers
A record number of Australians are now working more than one job to make ends meet
In the past year the number of people working more than one job has risen 7%.
The government’s measure of “well-being” just plummeted
The three months to June saw one the biggest ever falls in the government’s measure of well-being.
The weak economy shows the Reserve Bank is not threading the needle
We have now had two consecutive quarters of GDP per capita falling – hardly the soft landing the RBA wants.
August 2023
Australia’s emissions are rising at a time they need to fall quickly
The latest quarterly greenhouse gas emissions survey shows that Australia is heading in the wrong direction – and that needs calling out.
Enterprise agreements data shows wage growth remains steady despite some solid increases
The average wage growth in enterprise agreements shows that workers continue to see their real wages fall.
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