Poppy Johnston

Retailers may have logged a better-than-expected month of sales but consumers are still hurting, with much of May's turnover boost fuelled by early and heavy discounting before the end of the financial year.

Australian manufacturers have notched up a better few months for new orders and tax cuts should help household incomes recover and underpin healthier demand for goods.

Demand for employees with generative artificial intelligence skills peaked the year ChatGPT was launched and has tapered off in the past two years, amid hype and concern over the impact of the technology.

Australia is not expected to fall into a recession, Treasurer Jim Chalmers has assured, even as interest rate hikes slow the economy to a crawl.

Australia's lowest-paid workers shouldn't be blamed for inflation, the employment minister said, after the industrial umpire announced a bump to the minimum wage.

Money lost to scams is tracking in the right direction even as fraudsters prey on the cost of living crisis to target people looking for side hustles.

While the federal government says its budget will lower inflation, analysts counter that broad cost of living relief, such as energy rebates and tax cuts, could make things worse.

Treasurer Chalmers announced new resources will be added to screen foreign investment proposals that may pose a national security risk, while allowing low-risk foreign investments to be fast-tracked.

"As we put together next month's budget, small businesses and families will again be front and centre in our thinking," Prime Minister Anthony Albanese said.

Small businesses could be forced to shutter if Australians on minimum and award wages receive a pay rise, the opposition has warned.

Federal treasurer Jim Chalmers is still angling for a second surplus but warns softening commodity prices and the weakening jobs market could ruin the upside surprise.

Fighting inflation won't be the sole focus of the upcoming federal budget, the treasurer has declared, warning the slowing national economy can't be ignored.