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Economy
Delta & Omicron show hoarding vaccines hurt advanced economies too
December 28, 2021 02:49 PM AEDT| By Sundeep RadeshHighlights The SARS CoV-2 virus has shown it has an ability to mutate in unvaccinated people The two biggest stumbling blocks to world economies in 2021 have been Delta and Omicron Developed countries could end up spending 49 per cent of the w.....
Will Australian job advertisements continue to recover in 2022?
December 28, 2021 12:08 AM AEDT| By Akanksha Vashishtl> During the initial wave of COVID-19, job openings plunged considerably, prompting a dramatic loss in labour market activity. Fast forward to the end of 2021; a lot has changed, with job openings showing an extravagant recovery. Though the growt...
How can the government support the Omicron-affected sectors?
December 27, 2021 02:24 PM AEDT| By Suhita PoddarHighlights Concerns related to the Omicron variant and ensued restrictions have severely impacted various sectors, such as hospitality, travel, and retail, just ahead of the festive season. The hospitality sector received a £1 billion eme.....
What to expect from the Australian economy in 2022?
December 27, 2021 12:34 AM AEDT| By Akanksha VashishtHighlights The pandemic woes have created a highly volatile environment for the economy wherein uncertainty dominates all predicted forecasts. In the mid-year economic and fiscal update, treasurer Josh Frydenberg gave announced forecasts for th.....
What to expect from Australian banking sector in 2022?
December 24, 2021 07:49 PM AEDT| By Akanksha VashishtHighlights Premier banking institutions have reported remarkable earnings during the financial year 2021 gaining strong momentum for 2022. Owing to the increased awareness about these concerns, the financial sector is in for a period of enhance.....
Has the pandemic added to supply chain disruptions?
December 23, 2021 06:52 PM AEDT| By Akanksha VashishtHighlights The lack of immigrants and shipping bottlenecks presented obstructions in economic activity during the pandemic. Pent-up demand created pressure on reduced supply, leading to higher freight costs and large delays in shipping. Busine.....
What factors led to a slow growth of UK’s GDP in the third quarter?
December 23, 2021 01:12 AM AEDT| By Sreenivas D AjankarDuring the third quarter of 2021, the British economy witnessed a slower recovery than the earlier estimate. The Office for National Statistics (ONS) revised the gross domestic product growth rate for the UK economy to 1.1% from the previous estima.....
How Brexit has affected UK in last one year
December 22, 2021 09:04 PM AEDT| By Rishika RainaIt has been a year since Britain has left the European Union (EU), and its impact on the economy is still not clear. When Covid-19 hit the world at the same time as Brexit, the UK saw more than expected tougher situation. While some big firms have .....
How did Australia’s regional property market fare during the COVID-19 pandemic?
December 22, 2021 07:26 PM AEDT| By Akanksha VashishtAustralia’s housing price boom has quickly outpaced price rise in any other sector within the country. While it became increasingly difficult to find a house in capital cities like Sydney and Melbourne amid sky-high prices, prices were also s.....
Will the Omicron variant derail Australia’s labour market recovery?
December 22, 2021 05:14 PM AEDT| By Akanksha VashishtHighlights The labour market seems to be ending the year on a positive note as overall employment reaches a record high and payroll jobs inch up. As per the RBA, the behaviour of wages remains largely unpredictable. The Australian Chambe.....
Australia sees a sharp rebound in payroll jobs in November
December 22, 2021 01:38 PM AEDT| By DaminiHighlights As per ABS, payroll jobs increased by 0.3 per cent in the fortnight up to 27 November 2021. The labour market bore the brunt of the pandemic-induced lockdowns prior to November. Part-time jobs declined more than full-time jobs durin.....
Will the RBA tighten monetary policy anytime soon?
December 21, 2021 08:09 PM AEDT| By Akanksha VashishtHighlights The Reserve Bank of Australia (RBA) seems optimistic that quantitative easing could come to an end in 2022. Due to changing headwinds, a clearer viewpoint on policy action could be expected in February 2022. The central bank does no.....
World Inequality Report 2022
December 19, 2021 12:10 AM AEDT| By Toshiva JainWe are residing in the hyper-capitalist world. Here, who earns more, owns more assets; and thus, lives a more comfortable life. We as a society have collectively chosen this kind of living, discarded the barter system and now sustained on the legal.....
Is the sun shining again on the battered Australian travel sector?
December 17, 2021 01:52 PM AEDT| By DaminiHighlights Australia has recently decided to move ahead with the next stage of its border reopening. Qantas has planned to soon extend the airline’s services to offer Aussie’s only direct flights to continental Europe. Australian t.....
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Bank of England hikes interest rates for first time in pandemic era
December 17, 2021 01:15 AM AEDT| By AbhijeetThe Bank of England, on Thursday, 16 December, in its terminal Monetary Policy Committee (MPC) meeting for 2021, raised the key lending rates by 15 basis points, surprising everyone as it is the first major central bank to raise the interest rates .....
What does Frydenberg’s MYEFO say on the Australian economy?
December 16, 2021 04:56 PM AEDT| By Sukriti NairHighlights Mid-Year Economic and Fiscal Outlook (MYEFO) is out today. Treasury updates on million new jobs and wage rate forecasts. The Mid-Year Economic and Fiscal Outlook (MYEFO) revealed a recovery from COVID-19 recession. The MYEFO bud.....
Australia’s housing market strength reflecting in household wealth
December 16, 2021 04:32 PM AEDT| By DaminiHighlights Australia’s total household wealth surged by 4.4 per cent in the September 2021 quarter. The uptick in household wealth was primarily driven by a rise in residential property prices. Australia records the highest annual sales .....
Easing lockdown restrictions bring improving employment conditions for Australia
December 16, 2021 02:22 PM AEDT| By Akanksha VashishtHighlights The latest data from the ABS suggests an improvement in labour market recovery in November. As businesses resumed operations in a slowly opening economy, the labour market recorded an increase in employment numbers. Slowly rising wa.....
Apple becomes world's first $3 trillion market cap company
December 15, 2021 04:16 AM AEDT| By Rupam RoyApple crossed the market capitalization of US$3 trillion Tuesday, December 14, after an astonishing run over the past decade, marking itself as the world's most valuable company. The iPhone manufacturer hit US$3 trillion from US$2 trillion in market...
How COVID-19 pandemic impacted working arrangements in labour market
December 14, 2021 07:58 PM AEDT| By Akanksha VashishtHighlights The work from home setup has considerably increased over the past year as the businesses redefine working arrangements. Employee earnings have risen, though many jobs have been lost in the casual labour market segment. The los.....
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