Monthly Archives: February 2012

Sovereign Wealth Fund not a priority

Posted on February 29, 2012 by Gene Tunny

Former ANU economics professor and now Federal Labor MP Andrew Leigh spoke yesterday on the arguments for and against a Sovereign Wealth Fund for Australia (Wrong time for a Sovereign Wealth Fund). Andrew concluded: …in the current economic environment it … Continue reading →

Posted in Budget | 1 Comment

Treasury will find diversity target hard to meet

Posted on February 28, 2012 by Gene Tunny

Treasury Secretary Dr Martin Parkinson gave a speech in Canberra today setting out Treasury’s agenda to increase the diversity in its ranks, which is an admirable goal given line agencies joke they can tell Treasury officers by their dark suits … Continue reading →

Posted in Labour market | Leave a comment

Resources sector jobs multiplier

Posted on February 25, 2012 by Gene Tunny

Following my post last week on the Brisbane Economic Development Plan, an informed reader suggested that the source of the eyebrow-raising resources sector jobs multiplier of 19 may have been the Queensland Resources Council-sponsored study of the sector’s economic contribution … Continue reading →

Posted in Brisbane, Labour market, Mining | 2 Comments

Qld much more costly to run than other States

Posted on February 25, 2012 by Gene Tunny

The Commonwealth Grants Commission announced yesterday that Queensland’s share of GST revenue will increase from around 19% in 2011-12 to 20% in 2012-13, largely reflecting increased costs due to natural disasters (see 2012 Update Report). In addition to its update … Continue reading →

Posted in Budget, Cyclones, Floods, Tax | Leave a comment

Qld Treasury expects recovery in interstate migration and building industry

Posted on February 24, 2012 by Gene Tunny

Queenslanders can expect the State’s sluggish building industry and interstate migration to rebound this year, according to Queensland Treasury’s Office of Economic and Statistical Research (OESR). In its latest Queensland Economic Review, OESR notes: …a number of factors should support … Continue reading →

Posted in Macroeconomy, Migration | 1 Comment

Public sector starts to show wage restraint

Posted on February 22, 2012 by Gene Tunny

Given the budgetary challenges facing State Governments across Australia, it was good to see signs of public sector wage restraint in the latest ABS Labour Price Index data. This chart for Queensland shows private sector wages are now growing slightly … Continue reading →

Posted in Labour market | Leave a comment

A remarkable Queenslander commits political suicide

Posted on February 22, 2012 by Gene Tunny

No one can deny Kevin Rudd’s exceptional intelligence and star quality, but he has no way back from his resignation as Foreign Minister today, particularly after some of the Labor Party’s most powerful people – Swan, Crean and Burke – … Continue reading →

Posted in Uncategorized | Leave a comment

The 4% unemployment rate target – achievability vs sustainability

Posted on February 21, 2012 by Gene Tunny

There is a good post at Loose Change on the sustainability of the Opposition’s 4% unemployment rate commitment, which links to my previous post showing that the commitment is feasible, in an arithmetic sense at least. On its sustainability, my … Continue reading →

Posted in Labour market, Macroeconomy | 3 Comments

Qld business investment grew at nearly 15% per quarter in mid-2011

Posted on February 17, 2012 by Gene Tunny

OESR’s State Accounts for September 2011, which were released today, contain this chart showing the massive growth in business investment (primarily resources sector related) in the June and September quarters of last year: The massive level of investment occurring across … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

Qantas sheds 500 jobs, but economy gained 46,400 jobs in January

Posted on February 16, 2012 by Gene Tunny

A colleague of mine thinks it says something about the quality of economic journalism in this country that Qantas shedding 500 jobs overshadowed the excellent ABS employment data released today, as shown by this screen shot from the Age website … Continue reading →

Posted in Labour market | Leave a comment