Economy Archives - SmartCompany

The state topping the economic charts in Australia, again

Jacob Shteyman — Mon, 29 Jul 2024 00:47:20 +0000

More traditionally regarded for the quality of its wine and festivals, this state has once again been recognised as an economic powerhouse for its robust jobs market and strong building activity.

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Workplace justice visa introduced to help migrant workers report employer misconduct

Laurie Berg — Mon, 29 Jul 2024 00:17:00 +0000

A new short-term “workplace justice visa” will allow migrant workers to stay and work in Australia for six months while they pursue a labour claim.

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ACCI survey finds nearly half of small businesses considered closing in past 12 months

David Adams — Mon, 22 Jul 2024 02:33:35 +0000

Almost half of small business operators have considered closing or leaving in the past twelve months, with the percentage even higher outside Australia's capital cities, according to damning new survey data from the Australian Chamber of Commerce and Industry.

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Australia’s real wages are 4.8% lower than pre-pandemic levels

John Buchanan — Thu, 11 Jul 2024 00:59:54 +0000

Australia is now in the same league as Lithuania, Estonia and Hungary when it comes to cutting real pay, according to a new OECD report. These are the only countries where cuts in real pay – pay adjusted for inflation – have been more severe for low-paid workers than those on higher salaries.

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Government should spend 50% of contracting budget on local firms: Unions NSW

Alex Mitchell — Wed, 03 Jul 2024 00:11:08 +0000

Local businesses should get preferential treatment when bidding for government contracts, NSW's peak union body will tell a parliamentary inquiry.

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Headline inflation grows to 4%, raising the spectre of another RBA rate hike

Isaac Gross — Thu, 27 Jun 2024 02:23:38 +0000

The upward turn suggests the Reserve Bank will have to revisit the case for an interest rate hike when it meets next in early August.

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A third of Australian businesses spend nothing on innovation: ABS data

Melissa Coade — Fri, 21 Jun 2024 00:16:50 +0000

Australian business innovation has dropped six percentage points compared to the last recorded measure, according to new data from 2021-23 released by the Australian Bureau of Statistics.

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New procurement rules to give SMEs better access to $70 billion in government contracts

Julian Bajkowski — Mon, 17 Jun 2024 23:32:48 +0000

The rules could, in theory, allow agencies to choose more Australian, home-grown and First Nations suppliers by factoring benefits like local job creation and sustainment.

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Bosses pocket 14% higher salaries as workers battle cost of living pressures

Andrew Brown — Wed, 12 Jun 2024 00:23:10 +0000

The survey of 1089 companies found the average fixed remuneration of a chief executive of an ASX 200 listed company was $1.37 million in 2023-24, up from $1.14 million in 2022-23.

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Seven graphs that show Australian economic growth is “very weak”

John Hawkins — Thu, 06 Jun 2024 23:27:36 +0000

Australia’s annual rate of economic growth – 1.1% – is the worst outside of the pandemic since the early 1990s “recession we had to have”.

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