Each morning we post a selection of our favourite news stories from the day’s news. These posts also give you a chance to see how we can summarise news for you.
Overall Australian unemployment and under-employment at almost 3.3 million in April; Real Unemployment at 1.63 million
Original article by Roy Morgan
Market Research Update – Page: Online : 13-May-26
In April 2026, Australian ‘real’ unemployment fell 58,000 to 1,635,000 (10.1% of the workforce, down 0.4%), and under-employment dropped 48,000 to 1,639,000 (down 0.2% to 10.2%). In total, 3.27 million Australians (20.3% of the workforce) were either unemployed or under-employed in April. Roy Morgan estimates the overall workforce size (which adds together the employed and unemployed) at just under 16.1 million in April (16,091,000 to be exact, down 94,000 on a month ago, and representing 68.8% of Australians aged 14+). Employment was down 36,000 to 14,456,000; this was driven by a sharp fall in full-time employment (down 225,000 to 9,145,000), although part-time employment rose 189,000 to a record high of 5,311,000. Overall employment represents 61.8% of Australians aged 14+. The April Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross section of people aged 14+.
CORPORATES
ROY MORGAN LIMITED
Roy Morgan New Zealand Poll: Support for National-led Government and Labour-led Opposition remains tied in April
Original article by Roy Morgan
Market Research Update – Page: Online : 13-May-26
Roy Morgan’s New Zealand Poll for April 2026 shows the National-led Government (National, ACT & NZ First) unchanged on 47.5%, and effectively tied with the Labour-Greens-Maori Party Parliamentary Opposition on 48% (also unchanged). Amongst the Government support for National fell 1% to 25.5% (its lowest level of support since National was elected to Government in late 2023), support for NZ First was up 0.5% to 11.5% (its highest level of support since being elected to Government), and support for ACT increased by 0.5% to 10.5%. For the Parliamentary Opposition, support for Labour was unchanged on 34%, support for the Greens was unchanged on 11%, and support for the Maori Party was unchanged on 3%. A further 4.5% (unchanged) of electors supported a minor party outside Parliament. The survey results for April would lead to the National-led Government winning 60 seats (down eight seats from the election) and the Labour-led Parliamentary Opposition would win 60 seats (up five seats). This latest New Zealand Roy Morgan Poll on voting intention was conducted by telephone – both landline and mobile – with a New Zealand-wide cross-section of 887 electors from 30 March to 26 April. Meanwhile, the Roy Morgan Government Confidence Rating dropped 2.5 points to 75.5 in April.
CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, NATIONAL PARTY OF NEW ZEALAND, ACT NEW ZEALAND, NEW ZEALAND FIRST PARTY, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, THE MAORI PARTY
Workers pay as income taxes hit a 30-year high
Original article by Michael Read
The Australian Financial Review – Page: B5 : 13-May-26
The federal government’s budget includes a new and permanent income tax break for wage and salary earners. The Working Australians Tax Offset will be worth up to $250 per annum and is slated to cost about $3bn in its first full year of operation; an estimated 13.3 million workers will be entitled to the tax offset, although it will not be available until they submit tax returns for the 2027-28 financial year. Meanwhile, the budget papers show that government revenue from individuals’ income tax is forecast to exceed $382bn in 2027-28; this equates to 52 per cent of the total tax take, and it is expected to rise to 54.5 per cent by 2029-30.
CORPORATES
Youth boon in anti-Boomer push
Original article by Grace Lagan, Isabella Freeland, Andrew Hobbs
The Australian Financial Review – Page: B9 : 13-May-26
The federal government has used its 2026 budget to announce that it will scrap negative gearing on established properties from July 2027, although the move does not apply to existing investments in such properties, or to investments in new properties. It is one of a number of tax policies announced that are seemingly aimed at making it easier for members of Generation Z to get into the property market in what has been labelled an anti-Boomer budget. However, some Gen Z members are of the view that they will struggle to save enough for a house deposit, due to the cost of living and the rising cost of houses.
CORPORATES
ANZ-Roy Morgan Consumer Confidence dropped 3.1pts to 64.1 after the Reserve Bank raised interest rates by +0.25%
Original article by Roy Morgan
Market Research Update – Page: Online : 13-May-26
ANZ-Roy Morgan Consumer Confidence fell 3.1pts to 64.1 in the week to 10 May; this is the fourth-lowest Consumer Confidence reading in the history of the index stretching back to 1972. Consumer Confidence is now 20.3pts lower than a year ago (87.5), and 5.1pts below the 2026 weekly average of 72.3. Analysis by State shows that Consumer Confidence dropped in New South Wales, Victoria, Queensland and South Australia, but increased slightly in Western Australia. Now just 14% of Australians (down 2ppt) say their families are ‘better off’ financially than this time last year, while 56% (up 2ppts) say their families are ‘worse off’. Looking forward, 19% (down 1ppt) of respondents expect their family to be ‘better off’ financially this time next year, while 45% (up 2ppts) expect to be ‘worse off’. Only 4% (down 1ppt) of respondents expect ‘good times’ for the Australian economy over the next 12 months, while 48% (unchanged) expect ‘bad times’. Meanwhile, just 13% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 53% (up 2ppts) say now is a ‘bad time to buy’.
CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ
Treasury warns of inflation at 7.25pc
Original article by Matthew Cranston
The Australian – Page: 4 : 13-May-26
The budget papers show that the Treasury’s base case is that the inflation rate will ease to 2.5 per cent in 2027, after peaking at a forecast five per cent in mid-2026. This is based on expectations that the price of crude oil will fall; however, the Treasury’s worst-case scenario modelling suggests that inflation will rise above seven per cent if a protracted war in the Middle East results in the crude oil price rising above $US200 a barrel in the September quarter. This would in turn reduce real GDP growth by 0.5 per cent over the next two financial years and result in an official unemployment rate of nearly five per cent in 2027-28.
CORPORATES
AUSTRALIA. DEPT OF THE TREASURY
Fortescue to pay $150m native title bill
Original article by Mark Wembridge
The Australian Financial Review – Page: 12 & 16 : 13-May-26
Federal Court judge Stephen Burley ruled on Tuesday that Fortescue must pay $150 million to the Yindjibarndi Aboriginal Corporation in what is the the largest native title compensation order in Australian history. The ruling relates to Fortescue’s Solomon iron ore mining hub in Western Australia’s Pilbara region, with the Corporation claiming that Fortescue has worked the Solomon hub since 2013 without permission or agreement with it. The Corporation had been seeking $1.8 billion, while Fortescue said in a statement that "it accepts that the Yindjibarndi people are entitled to compensation".
CORPORATES
FEDERAL COURT OF AUSTRALIA, FORTESCUE LIMITED – ASX FMG, YINDJIBARNDI ABORIGINAL CORPORATION
Give us a break plea amid soaring costs for farmers
Original article by Matthew Denholm
The Australian – Page: 11 : 13-May-26
Western Australian crop grower and cattle and sheep farmer Simon Wallwork has called for farmers to get priority when it comes to access to fuel and fertiliser supplies. With farmers struggling to cope with the high cost of fuel and fertiliser as a result of the Middle East conflict, which has also restricted supplies of fuel and fertiliser, Wallwork also says an increase to the on-farm diesel tax rebate or similar support was needed, as well as well as help to pay for increased fertiliser costs. He also wants CGT concessions that apply when farms are transferred from one generation to the next to be retained, as well as protection for family trusts
CORPORATES
Rinehart’s Hancock Prospecting launches appeal on royalties
Original article by Jesinta Burton, Tom Rabe
The Australian Financial Review – Page: Online : 13-May-26
Hancock Prospecting will appeal a Western Australian Supreme Court ruling that it must pay hundreds of millions of dollars in royalties to Wright Prospecting and DFD Rhodes. The ruling relates to royalties from Hancock’s Hope Downs iron ore operations, with Wright Prospecting being the family company of Peter Wright, the business partner of Lang Hancock, Gina Rinehart’s late father, while DFD Rhodes is the family company of late Pilbara pioneer Don Rhodes. The dispute between Hancock Prospecting and the two other companies relates to decades-old agreements signed by Hancock, while it is understood that the ruling has been challenged on multiple grounds.
CORPORATES
HANCOCK PROSPECTING PTY LTD, SUPREME COURT OF WESTERN AUSTRALIA, WRIGHT PROSPECTING PTY LTD, DFD RHODES PTY LTD
$77bn tax grab
Original article by Greg Brown
The Australian – Page: 1 & 11 : 13-May-26
The federal government’s budget papers show that the nation’s gross debt is set to exceed $1 trillion in 2026-27, while it is forecast to peak at 35.8 per cent of GDP in 2028-29. Net debt is in turn forecast to top $616bn by mid-2027, while the budget includes net tax increases totalling $77bn. Meanwhile, the government is set to post deficits for the next decade and will not deliver a balanced budget until 2034-35, although the latter is based on expectations of higher tax revenue and projected savings from NDIS reforms. The budget also includes a productivity package for the business sector; amongst other things, the instant asset write-off will become a permanent feature of the tax system, while the loss carry back tax offset will be reinstated; however, the government now expects its productivity growth target of 1.2 per cent to be achieved three years later than expected.
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