O75 Public Administration

ANZ-Roy Morgan Consumer Confidence down 0.8pts to 82.3, Inflation Expectations remain at lowest since November 2021

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Sep-24

ANZ-Roy Morgan Consumer Confidence was down 0.8pts to 82.3 in the week to 8 September; the index has now spent a record 84 straight weeks below the mark of 85. However, Consumer Confidence is now 4.7 points above the same week a year ago (77.6), and virtually identical to the 2024 weekly average of 81.9. Consumer Confidence was down in NSW, Victoria, Western Australia and South Australia, but up in Queensland. Now 23% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 47% (down 3ppts) say their families are ‘worse off’. Looking forward, 32% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (up 1ppt) expect to be ‘worse off’. Now 9% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 34% (up 1ppt) expect ‘bad times’. Now 20% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 48% (down 1ppt) say now is a ‘bad time to buy’. Meanwhile, Inflation Expectations were stable at a 32-month low of 4.6% this week.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

In August Australian unemployment dropped to 9.1% due to significant increase in part-time jobs

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Sep-24

In August 2024, Australian ‘real’ unemployment fell by 174,000 to 1,423,000 (down 1% to 9.1% of the workforce). Part-time employment increased by 136,000 to 4,901,000 in August, although full-time employment was virtually unchanged at 9,387,000; overall employment for the month increased by 133,000 to 14,288,000. In addition to the unemployed, a further 1.5 million Australians (9.5% of the workforce) were under-employed, i.e. working part-time but looking for more work, down 38,000 from July. In total, 2.92 million Australians (18.6% of the workforce, down 1.2%) were either unemployed or under-employed in August. Roy Morgan’s unemployment figure of 9.1% for August is clearly more than double the ABS estimate of 4.2% for July, but it is approaching the combined ABS unemployment and under-employment figure of 10.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

BHP hits back: we paid for half of all hospitals

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 11-Sep-24

BHP’s Australia president Geraldine Slattery has released a statement which highlights the resources group’s economic contribution. She noted that BHP pays an adjusted tax rate of 32 per cent, which rises to 44 per cent when royalties are taken into account. Slattery added that governments in Australia received a total of $14.5bn from BHP in 2023-24, via taxes, royalties and other payments; she noted that this is about half of the federal government’s annual expenditure on public hospitals. Slattery’s comments follow recent animosity between Minerals Council of Australia CEO Tania Constable and the federal government over the latter’s industrial relations reforms.

CORPORATES
BHP GROUP LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA

Minority nightmare looms for mining best friends

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Original article by Geoff Chambers, Noah Yim
The Australian – Page: 1 & 4 : 11-Sep-24

Opposition leader Peter Dutton will deliver a keynote address at the Minerals Week conference on Wednesday. He will contend that the federal government’s "ideologically-driven" policies on industrial relations, the environment and energy show that it is hostile to primary industries such as mining. Dutton will state that if Labor achieves majority government at the upcoming federal election it will "double down" on its current policy platform; he will also warn that a minority Labor government would see the Greens or the teals hold the balance of power, which would have major implications for the resources sector. Dutton will add that in contrast, a Coalition government would be the best friend that the sector will ever have.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

PM in push for ban on social media for teens

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Original article by Phillip Coorey, Gus McCubbing
The Australian Financial Review – Page: 6 : 10-Sep-24

Prime Minister Anthony Albanese has committed to introducing legislation that would impose a nationwide ban on teenagers using social media and to do so prior to the next election. In announcing the proposed ban, Albanese has taken his inspiration from South Australian Premier Peter Malinauskas, who is seen as the driving force behind the idea. The proposed nationwide ban will draw on the work done for SA by former High Court judge and the legislative structure already developed by South Australia, while Snapchat would be the app most impacted by the proposed ban.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA

‘PM’s war’: The miner explosion

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Original article by Simon Benson
The Australian – Page: 1 & 5 : 10-Sep-24

Minerals Council of Australia CEO Tania Constable has told a mining dinner attended by Prime Minister Anthony Albanese and other senior cabinet ministers that the mining sector wants co-operation and not conflict, but she claimed that conflict is what will result from the federal government’s new workplace laws. She said that the new laws will mean that conflict is coming to every workplace, and that the new laws are one of the ways by which the government is seeking to punish the mining sector for its success, along with raids on mining royalties, the "looming threat of onerous and arbitrary environmental approvals", new regulation and a range of restrictive policies.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Australian politics needs fewer ‘vaguely incompetent men’, Amanda Vanstone says, not gender quotas

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Original article by Karen Middleton
The Guardian – Page: Online : 10-Sep-24

Amanda Vanstone says the best way to get more high-quality women into politics is to have fewer ‘vaguely incompetent men’ in Australian politics, with Vanstone being a former Howard government minister. Opposed to quotas for women in politics, Vanstone was speaking as Labor celebrated the 30th anniversary of its affirmative-action rule that imposed quotas for women, with women making up 52.4 per cent of the current Labor federal caucus.

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AUSTRALIAN LABOR PARTY

‘The enemy within’: Royal commission damns Defence for needless deaths

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Original article by Matthew Knott
The Age – Page: Online : 10-Sep-24

The royal commission into veterans’ suicide released its final report on Monday, making 122 recommendations. The commission found that current and former service personnel were 20 times more likely to die by suicide than in combat, with commissioner Peggy Brown saying it found that the "enemy is often within the Australian Defence Force" rather than an external adversary. The commission’s 122 recommendations include the creation of a national register of suicides among current and former ADF personnel, along with urgent action to stamp out bullying and sexual assault within the armed forces.

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Public sector jobs boom a poor investment

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Original article by Michael Read
The Australian Financial Review – Page: 5 : 10-Sep-24

Treasurer Jim Chalmers has contended that government spending prevented the economy from recording negative growth in the June quarter. Strong jobs growth in the public service over the last year was a key driver of government spending over the quarter. However, analysis of the latest national accounts data shows that productivity in the public service – as well as government-funded sectors such as health and education – fell to 2006 levels during the quarter. IFM Investors’ chief economist Alex Joiner says jobs growth in these ‘non-market sectors’ are fuelling the decline in productivity; he adds that when these sectors are excluded, productivity is quite good.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, IFM INVESTORS PTY LTD

Roy Morgan Poll: Federal voting intention virtually unchanged this week with ALP (51%) marginally ahead of the Coalition (49%)

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Sep-24

If a Federal Election were held now the result would be ‘too close to call’ with the ALP on 51% (up 0.5%) just ahead of the Coalition on 49% (down 0.5%) on a two-party preferred basis, the latest Roy Morgan survey finds. There was a slight movement to the ALP on a two-party preferred result this week; however, the ALP or Coalition would require the support of minor parties and independents to form a minority government. The result again shows the importance of preference flows to determine the overall two-party preferred result. The ALP primary vote decreased 0.5% to 30% while Coalition support increased 0.5% to 36.5%. Support for the Greens increased 1.5% to 14.5% while One Nation was unchanged at 6%. Support for Other Parties dropped 1.5% to 3.5% and support for Independents was unchanged at 9.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY