Australia's unemployment rate falls to 4.2pc as female participation hits record high — as it happened
Employment increased by nearly 25,000 people, driven by 60,000 full-time jobs, and the number of unemployed people also fell in the month.
The local share market recovered yesterday's losses in early trade, after the S&P 500 notched a new record on Wall Street, as bets on US interest rate cuts rose.
Look back on the day's events and insights from our business reporters on the ABC News markets blog.
Disclaimer: this blog is not intended as investment advice.
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The Australian
40 minutes ago
- The Australian
Treasurer Jim Chalmers flag approvals changes in environmental laws
Treasurer Jim Chalmers says Australians are 'burning cash' waiting for approvals as he takes aim at Australia's sluggish productivity rate ahead of a three-day talkfest in Canberra. Chalmers will next week host an economic reform roundtable in Canberra where boosting productivity and building resilience in Australia's economy and budget will take centre-stage. Speaking with The Guardian, Mr Chalmers said slow approval times by governments and councils had stymied productivity. 'It will be one of the main ways that people think through our regulatory challenges and our challenges around the time it takes to get projects approved,' Chalmers told the Guardian. 'In all the consultation I've been doing – in housing, renewable energy projects – there are too many instances where people are burning cash waiting for approvals to build things that we desperately want people to build.' The treasurer's remarks signal reform to the Environment Protection and Biodiversity Conservation Act is a high priority for the re-elected government. The Albanese government failed to deliver on its promise of reform the country's complex environmental laws its first term. Treasurer Jim Chalmers told The Guardian reform to the country's environmental laws, including the permitting process, could boost productivity. Picture: NewsWire/Martin Ollman. Separately, Mr Chalmers told NewsWire on Friday that Australia's sluggish birthrate meant the country would have to lift productivity to maintain living standards. 'It's not surprising that the birthrate has slowed given the pressures on people, including financial pressures,' he said. 'We want to make it easier for them to make that choice. If they want to have more kids, we want to make it easier for them to do that, and that's what motivates a lot of our changes.' As Australia struggles to boost the economy, and in turn raise wages and living standards, it's contending with a sluggish birthrate of 1.5 births per woman, which is under the 2.1 figure needed to sustain population growth. Boosting productivity will be essential to ensuring that Australia's ageing population can weather economic headwinds, the Treasurer said. 'Now, the reason why the productivity challenge is important to this is because our society is ageing, and over time, there will be fewer workers for every person who's retired,' he said. 'We need to make sure that our economy is as productive as it can be, as strong as it can be to withstand that demographic change, which is going to be big and consequential.'
News.com.au
2 hours ago
- News.com.au
Treasurer Jim Chalmers says too many Aussies are ‘burning cash' waiting for approvals
Treasurer Jim Chalmers says Australians are 'burning cash' waiting for approvals as he takes aim at Australia's sluggish productivity rate ahead of a three-day talkfest in Canberra. Chalmers will next week host an economic reform roundtable in Canberra where boosting productivity and building resilience in Australia's economy and budget will take centre-stage. Speaking with The Guardian, Mr Chalmers said slow approval times by governments and councils had stymied productivity. 'It will be one of the main ways that people think through our regulatory challenges and our challenges around the time it takes to get projects approved,' Chalmers told the Guardian. 'In all the consultation I've been doing – in housing, renewable energy projects – there are too many instances where people are burning cash waiting for approvals to build things that we desperately want people to build.' The treasurer's remarks signal reform to the Environment Protection and Biodiversity Conservation Act is a high priority for the re-elected government. The Albanese government failed to deliver on its promise of reform the country's complex environmental laws its first term. Separately, Mr Chalmers told NewsWire on Friday that Australia's sluggish birthrate meant the country would have to lift productivity to maintain living standards. 'It's not surprising that the birthrate has slowed given the pressures on people, including financial pressures,' he said. 'We want to make it easier for them to make that choice. If they want to have more kids, we want to make it easier for them to do that, and that's what motivates a lot of our changes.' As Australia struggles to boost the economy, and in turn raise wages and living standards, it's contending with a sluggish birthrate of 1.5 births per woman, which is under the 2.1 figure needed to sustain population growth. Boosting productivity will be essential to ensuring that Australia's ageing population can weather economic headwinds, the Treasurer said. 'Now, the reason why the productivity challenge is important to this is because our society is ageing, and over time, there will be fewer workers for every person who's retired,' he said. 'We need to make sure that our economy is as productive as it can be, as strong as it can be to withstand that demographic change, which is going to be big and consequential.'
The Advertiser
2 hours ago
- The Advertiser
Workers call for support, training as AI 'irresistible'
Workers are calling for support to adapt to the adoption of artificial intelligence, with most saying they have not been offered training despite its increasing use. The Australian Services Union says surveyed white-collar workers are willing to adapt to using the technology but have been left with little guidance on how to navigate the change. More than 80 per cent of workers reported not having been offered any AI training or consultation on its use at work, despite almost 50 per cent of workplaces introducing these tools. Less than 35 per cent of workplaces have a formal policy guiding the technology's use, according to the research findings. The union's national secretary Emeline Gaske says artificial intelligence offers huge productivity opportunities to drive new jobs but the benefits need to extend beyond company profits. "Unions can't resist AI anymore than we could've resisted the internet," Ms Gaske said. "But it must come with an industry adjustment package that starts with workforce training." The call for more support and consultation comes ahead of a productivity roundtable in Canberra from Tuesday, with AI likely to be extensively discussed. The three-day summit, led by Treasurer Jim Chalmers and other ministers, will focus on boosting productivity in the economy, building resilience and strengthening the budget. It could lead to investigating the use of AI to streamline environmental measures and boost housing approvals, according to reported Treasury advice leaked to ABC News. More than 30,000 vocational education teachers could be trained to use AI under a recently announced year-long trial involving US tech giant Microsoft and Australia's Future Skills Organisation. The organisation has similarly noted the rate of white-collar workers using AI is more than double the rate of those who have been trained to do so. Ms Gaske says workers need to share in the benefits of AI, such as through shorter working weeks to give workers time back from productivity improvements, and has called for further consultation. "We have a willing and capable workforce but they need to be brought into the conversation," she said. "By investing in training, guaranteeing workers a say, and ensuring the gains are shared, we can boost productivity and improve the quality of jobs right across the economy." One surveyed worker reported widespread fear of the technology. "But if the right guidelines are in place I think it could be very useful," they said. Workers are calling for support to adapt to the adoption of artificial intelligence, with most saying they have not been offered training despite its increasing use. The Australian Services Union says surveyed white-collar workers are willing to adapt to using the technology but have been left with little guidance on how to navigate the change. More than 80 per cent of workers reported not having been offered any AI training or consultation on its use at work, despite almost 50 per cent of workplaces introducing these tools. Less than 35 per cent of workplaces have a formal policy guiding the technology's use, according to the research findings. The union's national secretary Emeline Gaske says artificial intelligence offers huge productivity opportunities to drive new jobs but the benefits need to extend beyond company profits. "Unions can't resist AI anymore than we could've resisted the internet," Ms Gaske said. "But it must come with an industry adjustment package that starts with workforce training." The call for more support and consultation comes ahead of a productivity roundtable in Canberra from Tuesday, with AI likely to be extensively discussed. The three-day summit, led by Treasurer Jim Chalmers and other ministers, will focus on boosting productivity in the economy, building resilience and strengthening the budget. It could lead to investigating the use of AI to streamline environmental measures and boost housing approvals, according to reported Treasury advice leaked to ABC News. More than 30,000 vocational education teachers could be trained to use AI under a recently announced year-long trial involving US tech giant Microsoft and Australia's Future Skills Organisation. The organisation has similarly noted the rate of white-collar workers using AI is more than double the rate of those who have been trained to do so. Ms Gaske says workers need to share in the benefits of AI, such as through shorter working weeks to give workers time back from productivity improvements, and has called for further consultation. "We have a willing and capable workforce but they need to be brought into the conversation," she said. "By investing in training, guaranteeing workers a say, and ensuring the gains are shared, we can boost productivity and improve the quality of jobs right across the economy." One surveyed worker reported widespread fear of the technology. "But if the right guidelines are in place I think it could be very useful," they said. Workers are calling for support to adapt to the adoption of artificial intelligence, with most saying they have not been offered training despite its increasing use. The Australian Services Union says surveyed white-collar workers are willing to adapt to using the technology but have been left with little guidance on how to navigate the change. More than 80 per cent of workers reported not having been offered any AI training or consultation on its use at work, despite almost 50 per cent of workplaces introducing these tools. Less than 35 per cent of workplaces have a formal policy guiding the technology's use, according to the research findings. The union's national secretary Emeline Gaske says artificial intelligence offers huge productivity opportunities to drive new jobs but the benefits need to extend beyond company profits. "Unions can't resist AI anymore than we could've resisted the internet," Ms Gaske said. "But it must come with an industry adjustment package that starts with workforce training." The call for more support and consultation comes ahead of a productivity roundtable in Canberra from Tuesday, with AI likely to be extensively discussed. The three-day summit, led by Treasurer Jim Chalmers and other ministers, will focus on boosting productivity in the economy, building resilience and strengthening the budget. It could lead to investigating the use of AI to streamline environmental measures and boost housing approvals, according to reported Treasury advice leaked to ABC News. More than 30,000 vocational education teachers could be trained to use AI under a recently announced year-long trial involving US tech giant Microsoft and Australia's Future Skills Organisation. The organisation has similarly noted the rate of white-collar workers using AI is more than double the rate of those who have been trained to do so. Ms Gaske says workers need to share in the benefits of AI, such as through shorter working weeks to give workers time back from productivity improvements, and has called for further consultation. "We have a willing and capable workforce but they need to be brought into the conversation," she said. "By investing in training, guaranteeing workers a say, and ensuring the gains are shared, we can boost productivity and improve the quality of jobs right across the economy." One surveyed worker reported widespread fear of the technology. "But if the right guidelines are in place I think it could be very useful," they said. Workers are calling for support to adapt to the adoption of artificial intelligence, with most saying they have not been offered training despite its increasing use. The Australian Services Union says surveyed white-collar workers are willing to adapt to using the technology but have been left with little guidance on how to navigate the change. More than 80 per cent of workers reported not having been offered any AI training or consultation on its use at work, despite almost 50 per cent of workplaces introducing these tools. Less than 35 per cent of workplaces have a formal policy guiding the technology's use, according to the research findings. The union's national secretary Emeline Gaske says artificial intelligence offers huge productivity opportunities to drive new jobs but the benefits need to extend beyond company profits. "Unions can't resist AI anymore than we could've resisted the internet," Ms Gaske said. "But it must come with an industry adjustment package that starts with workforce training." The call for more support and consultation comes ahead of a productivity roundtable in Canberra from Tuesday, with AI likely to be extensively discussed. The three-day summit, led by Treasurer Jim Chalmers and other ministers, will focus on boosting productivity in the economy, building resilience and strengthening the budget. It could lead to investigating the use of AI to streamline environmental measures and boost housing approvals, according to reported Treasury advice leaked to ABC News. More than 30,000 vocational education teachers could be trained to use AI under a recently announced year-long trial involving US tech giant Microsoft and Australia's Future Skills Organisation. The organisation has similarly noted the rate of white-collar workers using AI is more than double the rate of those who have been trained to do so. Ms Gaske says workers need to share in the benefits of AI, such as through shorter working weeks to give workers time back from productivity improvements, and has called for further consultation. "We have a willing and capable workforce but they need to be brought into the conversation," she said. "By investing in training, guaranteeing workers a say, and ensuring the gains are shared, we can boost productivity and improve the quality of jobs right across the economy." One surveyed worker reported widespread fear of the technology. "But if the right guidelines are in place I think it could be very useful," they said.
