Monthly Archives: February 2012

Sovereign Wealth Fund not a priority

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

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

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Resources sector jobs multiplier

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

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

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

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

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A remarkable Queenslander commits political suicide

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

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

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

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

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