@IndyMediaAus
Mainstream media sucks bigly. The LNP had no intention of doing anything to improve the economic position. They only ever fleece the treasury to grease the palms of their donor mates.
“The sad reality is that, as in Whitlam’s era, newsrooms are refusing to report Labor’s economy fairly. So here is an attempt to redress this. This is not complete, so updates may follow.
“These lists compare published outcomes at the time of the 2022 May Election with the latest available data.
Note: Itemsasterisked (*) are at all-time highs.
Big picture (macroeconomic indicators)
Quarterly inflation — 6.14% then, 2.42% now.
Workers gainfully employed — 13,448,200 then, 14,634,300* now.
Total labour force — 13,986,400 then, 15,261,800* now.
Annual business investment (volume, non-mining) — $109.2 billion then, $126.6* now.
Total corporate gross profits in the last year — $478.3 billion then, $520.0 billion now.
Construction work (volumes) for the last year — $255.0 billion then, $291.1 billion now.
Private sector engineering construction, annual — $63.0 billion then, $73.2 billion now.
Last budget outcome (mid-year 2024/25) — $134.2 billion deficit then, $15.8 billion surplus now.
Budget outcome prior to mid-year — $85.3 billion deficit then, $22.1 billion surplus now.
Net debt to GDP — 22.1% then, 18.4% now.
Gross debt to GDP — 39.2%* then, 33.9% now.
ASX all ordinaries — 7,391 index points then, 8,178 now.
Employees’ share of national income: 49.3% then, 53.8% now. (See chart, below.)
Workforce outcomes
Jobless rate — 3.85% then, 4.11% now.
Job participation rate — 66.22% then, 67.32%* now.
Workers jobless for more than one year — 199,400 then, 122,600 now.
Average weekly earnings — $1,280.30 then, $1,510.90* now.
Employment to population ratio — 63.67% then, 64.55%* now. (See chart below.)
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. Where is the strategy to industrialise the housing Industry to drive down costs and increase quality? <
