/ 22 March 2024

We come from a land down under


New data from the Bureau of Stats shows that our population ticked up to nearly 27 million people in the September 2023 quarter. In context, it’s a record increase of about 2.5%, equating to the population growing by about 659,800 people in the 12 months to September. Reports say part of it comes down to a “natural” population lift, but the vast majority – 548,000 people – were migrants moving to Australia. The Bureau’s head of demography Beidar Cho says the new arrivals are “predominantly on a temporary visa for work or study”. And speaking of work… The latest employment data was a shock to many yesterday, with 116,500 new jobs added in February, causing the unemployment rate to fall from 4.1% to 3.7%. That’s added to speculation that the Reserve Bank will continue to hold off on cutting interest rates

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