ONLY CHARTS #216
Aus public demand growth, Aus workers on reduced hours, Aus labour market outcomes for migrants, Euro area wages growth
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1. Government spending has risen to 28% of nominal GDP in Australia. BUT has accounted for more than HALF of real GDP GROWTH since mid-2015, and nearly two-thirds since mid-2018.
Since mid-2015, Victoria accounted for 34% of the total state & local government contribution to GDP growth compared with just 26% for New South Wales and 21% for Queensland.
2. The share of workers in Australia on reduced hours for economic reasons in October remained well below the pre-pandemic average, and has shown no sign of increasing.
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