Off the Charts // Economics
A picture tells a thousand words and Off the Charts is where you’ll find the charts and graphs that tell the most interesting stories. Across all the areas the Australia Institute covers, we give you the pictures that help you understand what is really going on in the world.
December 2024
Let’s celebrate the new normal of unemployment below 4%
Those arguing that Australia cannot sustain unemployment below 4.5% without rising prices and wages have been found to be completely wrong. And it is time they admitted it.
.Sorry BCA – the data shows businesses like investing in Victoria
Despite what the Business Council of Australia would wish you to believe, Victoria is one of the most popular places to invest in Australia.
.Sorry media, neither Victoria’s budget nor its economy is in bad shape
Victoria’s budget and economy are actually doing well – both the state’s public net worth and overall economy recovered solidly from the pandemic.
.November 2024
The time taken to pay off HECS is worsening the inequality between the states
The increased cost of university degrees has amplified the difference in time it takes to pay off a degree in each state – and can make it more attractive to work elsewhere.
The latest figures show governments can (and should) reduce inflation
Electricity rebates have demonstrated that leaving the fight against inflation should not be just left to the Reserve Bank
.Appointing the former INPEX general manager as the NT interim Territory Coordinator is a terrible move
Gas giant INPEX is notorious for not paying tax and now the NT govt is giving a former exec power to exempt gas projects from environmental regulations
Research shows people living in rural areas have a much lower life expectancy
The closer you live to the city and the richer your post code, the more likely you are to have a longer life.
.October 2024
The Liberal’s plan to boost housing is just a $5bn gift to property developers
The Liberal Party’s announcement this week to spend $5bn on infrastructure over 5 years to “boost home building across Australia” will barely make a difference – except to the profits of property developers.
September 2024
New figures show capital gains now outstrip wages – and yet mostly they go to the rich and untaxed
The latest figures on Australian wealth reveal that inequality is being driven by capital gains that overwhelmingly go to the wealthiest and are mostly untaxed.
.Public spending keeps the economy going as the private sector is hit by rate rises
Fast rising interest rates have slowed the economy so sharply that only government spending is keeping it growing
August 2024
New figures reveal yet again that wage growth is not driving inflation
The growth of wages under enterprise agreements is now as low as it has been for nearly a year.
The rate rises have cost households and businesses billions of dollars
The rate rises over the past 2 years have seen banks taken billion from households and business in increased interest payments.
.July 2024
Superannuation tax concessions are making inequality worse
Superannuation tax concessions were designed to encourage saving, but instead they are being used by the wealthiest to avoid paying tax
June 2024
Wages are clearly not driving inflation as new data shows wage growth is falling
With wage growth already falling, further interest rate rises would only serve to punish workers who are already suffering.
The tax stats show the gender pay remains widespread across almost all occupations
The 2021-22 taxations statistics show that men have a higher average salary in 96% of all occupations
“Sticky inflation” is not Australian workers fault and higher interest rates and lower wages won’t solve it
Australia’s inflation is rising and falling in line with the experience in Canada and the USA despite the RBA not raising rates by as much as did the central banks in those two countries.
It is time to abolish the expensive Fuel Tax Credit that incentivises fossil fuel use.
The OECD has recently called for the end of Australia’s Fuel Tax Credits Scheme, which is growing in cost every year.
Australian public universities are now spending millions on consultants
Figures from Queensland and Victoria reveal that public universities spend over $200m on consultants, while students HECS/HELP debt soar.
May 2024
Teachers pay more tax than the oil and gas industry
Oil and gas companies claim they pay the wages of teachers and other public sector services, but teachers actually pay twice the tax.
No, the budget is not inflationary
For a budget to be inflationary there needs to be actual evidence of surging demand. In this budget we have the opposite
.Gas industry emissions will cost us much more than their so-called economic benefits
The emissions from the gas industry are delivering a devasting cost to our future
The decision to scrap the levy on waste exports means more plastics will end up in landfill
Most plastic Australians use already ends up in landfill and the decision to scrap the levy on waste exports will only make things worse
“Sticky” inflation does not mean more rate rises are needed
The majority of items driving inflation now are not responsive to further rate rises
.April 2024
Federal funding for private schools
In 2024, the Commonwealth Government will spend an estimated $29.1 billion on schools in Australia. More than half of this – $17.8 billion – will go to private schools.
People are starting with much larger HECS/HELP debts than in the past – and it is only going to get worse
Australians in their 20s have HECS/HELP debts more than $10,000 greater in real terms than did people 20 years ago
HECS/HELP indexation is sending those earning less than $65,000 backwards
Ending the indexation of HECS/HELP debts would deliver a truly interest free-loan for students
.Wages growth in enterprise agreements provides no reasons for worry about inflation
Wage growth in enterprise agreements is at a level completely compatible with long-term inflation targets
Investing in a renewable manufacturing industry is vital for Australia’s living standards (and climate)
Australia’s economy is less an advanced economy than it is a petrostate style simple economy. That needs to change
March 2024
Wage growth in private-sector enterprise agreements falls in the last quarter of 2023
The latest figures reveal that wages in the private-sector are not growing out of control – indeed they appear to have peaked.
Sorry, Coles and Woolworths, but high wheat prices are not to blame for your bread prices
At worst at worst, the increase in wheat prices should have caused a 0.75% increase in the price of bread. Instead they soared.
Curated by
Off the Charts is curated by Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work.
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