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Monthly statistical bulletin



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ISSN 2203-5249

RESEARCH PAPER SERIES, 2015-16 31 OCTOBER 2016

Monthly Statistical Bulletin—October 2016 Statistics and Mapping Section

The Statistics and Mapping Section produces a selection of the latest economic and social statistics in this Monthly Statistical Bulletin which is updated at the beginning of each month.

As a companion to the Bulletin, longer time series of the statistics presented in the publication are available electronically at Monthly Statistical Bulletin e-data (see Historical Data below). These time series are updated throughout each month as new figures are released, but are only available to Senators and Members through the Parliamentary Library’s intranet.

Note: Between issues, many series are updated or revised. An indication of when each series is likely to be updated is included at the foot of each page. Previous months’ publications should be discarded as they may contain statistics which are no longer the most current or which have been revised.

Related publications Electronic links to publications referred to in the text are available on page 43.

Glossary Some economic and social terms may be unfamiliar to readers. Many of these terms are described in the glossary at the end of this publication.

Enquiries and comments Sue Johnson Director, Statistics and Mapping Section Telephone: (02) 6277 2480 or sue.johnson@aph.gov.au

Monthly Statistical Bulletin—October 2016 ii

Key release dates—October 2016 The following are advertised release dates for the statistics that appear in this publication. Australian Bureau of Statistics (ABS) publications are released at 11.30am (Canberra time). Copies of all ABS publications are available from the ABS website at www.abs.gov.au.

Tuesday 4 ABS, Building Approvals, Australia, August 2016, cat. no. 8731.0

Wednesday 5 ABS, Retail Trade, Australia, August 2016, cat. no. 8501.0

Thursday 6 ABS, International Trade in Goods and Services, Australia, August 2016, cat. no. 5368.0

Tuesday 11 ABS, Housing Finance, Australia, August 2016, cat. no. 5609.0 ABS, Building Approvals (Additional Information), Australia, August 2016, cat. no. 8731.0

Friday 14 ABS, Lending Finance, Australia, August 2016, cat. no. 5671.0

Tuesday 18 ABS, Sales of New Motor Vehicles, Australia, September 2016, cat. no. 9314.0

Thursday 20 ABS, Labour Force, Australia, September 2016, cat. no. 6202.0

Wednesday 26 ABS, Consumer Price Index, Australia, September 2016, cat. no. 6401.0

Thursday 27 ABS, International Trade Price Indexes, Australia, September 2016, cat. no. 6457.0

Friday 28 ABS, Producer Price Indexes, Australia, September 2016, cat. no. 6427.0

Historical data Long-term data series for every table which appears in this publication are available electronically to all senators and members. These series are updated as new data are released.

The long-term series, with printable tables and graphs, are contained in Excel workbooks and can be found at: http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/MSB

Monthly Statistical Bulletin—October 2016 iii

Contents Page

Historical data ................................................................................................................................................................. ii

Key release dates ............................................................................................................................................................ ii

Contents .......................................................................................................................................................................... iii

Labour market 1.1 Employment .............................................................................................................................................. 1

1.2 Unemployment .......................................................................................................................................... 2

1.3 Labour force ............................................................................................................................................... 3

1.4 Long-term unemployment ........................................................................................................................ 4

1.5 Youth unemployment ............................................................................................................................... 5

1.6 ANZ job advertisements ............................................................................................................................ 6

1.7 Industrial disputes ..................................................................................................................................... 7

1.8 Jobseekers receiving Newstart Allowance & Youth Allowance (other) .................................................. 8

1.9 Underemployment…………………………………………………………………………………………………………………………. 9 Wages and prices 2.1 Average weekly ordinary time earnings ................................................................................................. 10

2.2 Male total average weekly earnings ....................................................................................................... 11

2.3 Wage price index ..................................................................................................................................... 12

2.4 Consumer price index .............................................................................................................................. 13

2.5 Implicit price deflator for non-farm GDP ................................................................................................ 14

National accounts 3.1 Gross domestic product .......................................................................................................................... 15

3.2 Non-farm gross domestic product .......................................................................................................... 16

3.3 Wages and profits share.......................................................................................................................... 17

3.4 Household debt and household saving ratios ........................................................................................ 18

3.5 Labour productivity ................................................................................................................................. 19

Business conditions 4.1 Turnover of retail establishments ........................................................................................................... 20

4.2 Motor vehicle sales ................................................................................................................................. 21

4.3 Dwelling approvals .................................................................................................................................. 22

4.4 Business investment ................................................................................................................................ 23

4.5 Bankruptcies ............................................................................................................................................ 24

Finance 5.1 Business interest rates ............................................................................................................................ 25

5.2 Housing and cash interest rates ............................................................................................................. 26

5.3 Lending for housing ................................................................................................................................. 27

5.4 Home loan affordability .......................................................................................................................... 28

5.5 Stock exchange indexes .......................................................................................................................... 29

External transactions 6.1 International trade in goods and services .............................................................................................. 30

6.2 Balance on current account .................................................................................................................... 31

6.3 Terms of trade ......................................................................................................................................... 32

6.4 Exchange rates ........................................................................................................................................ 33

6.5 Foreign debt............................................................................................................................................. 34

Demographics 7.1 Population ................................................................................................................................................ 35

7.2 Components of population change ........................................................................................................ 36

7.3 Overseas arrivals—visitors and settlers .................................................................................................. 37

7.4 Health—bulk billing and private health insurance ................................................................................. 38

International comparisons 8.1 Economic growth ..................................................................................................................................... 39

8.2 Consumer prices ...................................................................................................................................... 40

8.3 Unemployment rates .............................................................................................................................. 41

8.4 Long-term interest rates ......................................................................................................................... 42

Related publications—links .................................................................................................................................. 43

Glossary ................................................................................................................................................................. 44

Monthly statistical bulletin

1

1.1 Employment

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Employment to population ratio (a) - per cent July 61.7 61.2 60.7 60.9 61.1

August 61.7 61.1 60.6 61.0 61.0

September 61.6 61.1 60.6 61.1 61.0

October 61.6 61.0 60.6 61.2

November 61.6 60.9 60.6 61.3

December 61.6 60.8 60.6 61.3

January 61.6 60.8 60.7 61.3

February 61.6 60.8 60.7 61.2

March 61.5 60.8 60.8 61.2

April 61.4 60.8 60.8 61.1

May 61.4 60.8 60.8 61.1

June 61.3 60.7 60.9 61.1

Annual average 61.5 60.9 60.7 61.2

Number employed (a) - '000

July 11 352.5 11 456.2 11 530.0 11 744.3 11 948.8

August 11 359.6 11 456.6 11 533.0 11 773.9 11 955.7

September 11 369.3 11 453.5 11 538.4 11 807.0 11 959.5

October 11 382.4 11 448.6 11 548.4 11 838.6

November 11 397.8 11 446.9 11 563.7 11 864.7

December 11 413.7 11 451.0 11 584.8 11 883.6

January 11 427.9 11 461.5 11 610.1 11 894.8

February 11 439.8 11 476.8 11 636.0 11 901.4

March 11 447.7 11 494.0 11 660.1 11 907.6

April 11 451.7 11 510.0 11 681.4 11 916.2

May 11 453.0 11 521.5 11 700.2 11 927.9

June 11 454.3 11 527.3 11 720.1 11 939.6

Annual average 11 412.5 11 475.3 11 608.9 11 866.6

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 17 November 2016

60.0

61.0

62.0

63.0

64.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Employment to Population ratio - per cent What is measured?

The ABS labour force survey provides regular estimates of employed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Generally, a person is considered employed if they worked one or more hours a week for payment or benefit. This includes people who worked without pay in their own, or in a family business. People who were temporarily away from work are still counted as employed. These criteria are consistent with international standards for measuring employment. The employment to population ratio, sometimes referred to as the ‘employment rate’, expresses the number of employed people as a proportion of the civilian population (in the same age group).

Small area estimates of employment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.2 Unemployment

 1.3 Labour force

 1.9 Underemployment  7.1 Population

Related publications  ABS, Characteristics of employment, cat. no. 6333.0  Melbourne Institute, Monthly bulletin

of economic trends

Monthly statistical bulletin

2

1.2 Unemployment

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Unemployment rate (a) - per cent

July 5.2 5.7 6.1 6.1 5.7

August 5.2 5.7 6.2 6.1 5.7

September 5.3 5.7 6.2 6.0 5.6

October 5.3 5.8 6.2 6.0

November 5.3 5.8 6.2 5.9

December 5.4 5.8 6.2 5.8

January 5.4 5.9 6.2 5.8

February 5.5 5.9 6.2 5.8

March 5.5 5.9 6.2 5.8

April 5.6 5.9 6.1 5.8

May 5.6 6.0 6.1 5.7

June 5.7 6.0 6.1 5.7

Annual average 5.4 5.8 6.2 5.9

Number unemployed (a) - '000

July 622.1 689.6 750.1 765.7 720.9

August 627.7 691.1 758.0 764.3 718.2

September 633.3 694.1 763.9 759.9 715.1

October 637.9 699.1 767.6 753.1

November 642.8 704.9 770.1 745.3

December 648.7 710.4 771.7 738.3

January 655.7 714.6 770.9 733.8

February 663.8 717.9 768.1 731.1

March 672.6 721.5 764.6 729.2

April 680.4 725.9 762.9 727.4

May 685.5 732.2 763.3 725.3

June 688.1 740.9 765.0 723.2

Annual average 654.9 711.9 764.7 741.4

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 17 November 2016

5.0

5.5

6.0

6.5

7.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Unemployment rate - per cent

What is measured? The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Generally, a person is considered to be unemployed if they are aged 15 years or over, not employed, are actively looking for work and are available to start work within a defined period.

The unemployment rate is the number of unemployed people expressed as a proportion of the labour force. Small area estimates of unemployment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.1 Employment

 1.3 Labour force  1.4 Long-term unemployment

 1.5 Youth unemployment  1.6 ANZ job advertisements

 1.8 Jobseekers receiving allowances  1.9 Underemployment

 8.3 Unemployment rates

Related publications  ABS, Participation, Job Search and Mobility, cat. no. 6226.0  ABS, Barriers and incentives to labour

force participation, cat. no. 6239.0  Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

3

1.3 Labour force

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Labour force (a) - '000 July 11 974.6 12 145.8 12 280.1 12 510.0 12 669.7

August 11 987.3 12 147.7 12 291.0 12 538.3 12 673.9

September 12 002.5 12 147.7 12 302.3 12 566.9 12 674.7

October 12 020.4 12 147.7 12 316.0 12 591.6

November 12 040.6 12 151.8 12 333.8 12 610.0

December 12 062.3 12 161.4 12 356.4 12 621.9

January 12 083.7 12 176.1 12 381.0 12 628.6

February 12 103.6 12 194.7 12 404.1 12 632.5

March 12 120.3 12 215.5 12 424.7 12 636.8

April 12 132.1 12 235.9 12 444.3 12 643.6

May 12 138.5 12 253.8 12 463.4 12 653.3

June 12 142.5 12 268.2 12 485.1 12 662.8

Annual average 12 067.4 12 187.2 12 373.5 12 608.0

Participation rate (a) - per cent

July 65.1 64.9 64.6 64.9 64.8

August 65.1 64.8 64.6 65.0 64.7

September 65.1 64.8 64.6 65.1 64.7

October 65.1 64.7 64.6 65.1

November 65.1 64.6 64.6 65.1

December 65.1 64.6 64.7 65.1

January 65.1 64.6 64.7 65.0

February 65.1 64.6 64.7 65.0

March 65.1 64.6 64.8 64.9

April 65.1 64.6 64.8 64.9

May 65.0 64.6 64.8 64.8

June 65.0 64.6 64.8 64.8

Annual average 65.1 64.7 64.7 65.0

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 17 November 2016

64.0

64.5

65.0

65.5

66.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Participation rate - per cent What is measured?

The ABS labour force survey provides regular estimates of Australians aged 15 years and over and their labour force status.

People may be employed or unemployed (i.e. in the labour force), or not in the labour force. A person’s status is determined through questions about their experiences during a specific time period. The participation rate measures the size of the labour force and provides an indication of those who are willing and able to work. The rate is the labour force (aged 15 years and over) expressed as a proportion of the civilian population (in the same age group).

Related statistics in this bulletin  1.1 Employment

 1.2 Unemployment  1.9 Underemployment

 7.1 Population  7.2 Components of population change

Related publications  ABS, Participation, Job Search and Mobility, cat. no. 6226.0 (see also ABS cat. no. 6206.0)

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

4

1.4 Long-term unemployment

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Ratio (b) - per cent July 18.6 19.2 22.3 23.1 22.9

August 18.9 19.8 22.0 22.8 23.1

September 19.2 20.2 21.9 22.6 23.3

October 19.3 20.6 22.0 22.5

November 19.2 20.9 22.3 22.5

December 18.8 21.1 22.9 22.6

January 18.2 21.4 23.4 22.9

February 17.8 21.7 23.8 23.1

March 17.6 22.0 24.0 23.2

April 17.7 22.4 23.9 23.2

May 18.1 22.6 23.6 23.0

June 18.6 22.6 23.4 22.9

Annual average 18.5 21.2 23.0 22.9

Long-term unemployed (a) (b) - '000 July 115.6 132.5 167.3 176.7 165.3

August 118.5 136.7 166.8 174.4 165.7

September 121.3 140.6 167.0 171.7 166.3

October 123.2 144.1 168.6 169.2

November 123.4 147.2 172.0 167.6

December 121.7 150.2 176.5 167.2

January 119.4 152.8 180.6 167.9

February 117.9 155.6 183.1 169.0

March 118.3 158.9 183.3 169.3

April 120.5 162.4 182.0 168.5

May 124.0 165.5 180.3 166.8

June 128.2 167.1 178.6 165.6

Annual average 121.0 151.1 175.5 169.5

(a) Unemployed for 52 weeks or more. (b) Trend estimates

Update

Source: ABS, Labour force, detailed - electronic delivery , cat. no. 6291.0.55.001 22 December 2016

7.0

12.0

17.0

22.0

27.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Ratio - per cent What is measured?

The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

People who have been unemployed for 52 weeks or more are considered to be long-term unemployed.

The long-term unemployment ratio expresses the number of long-term unemployed people as a proportion of all unemployed people.

When analysing long-term unemployment it is also useful to look at discouraged jobseekers, a group of people not in the labour force. They are people who wanted to work, were available to start work, but were not actively looking for work because they believed they would not find a job.

Related statistics in this bulletin  1.2 Unemployment

 1.3 Labour force

 1.6 ANZ job advertisements

Related publication  Parliamentary Library, Long-term unemployment statistics: a quick guide

 ABS, Participation, job search and mobility, cat. no. 6226.0 (see also ABS cat. no. 6220.0)

Monthly statistical bulletin

5

1.5 Youth unemployment

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Youth unemployment rate (b) - per cent July 11.7 12.1 13.6 13.2 12.8

August 11.7 12.3 13.7 13.0 12.9

September 11.8 12.4 13.8 12.8 12.9

October 11.8 12.5 13.9 12.6

November 11.9 12.5 13.9 12.4

December 12.0 12.4 13.9 12.3

January 12.0 12.4 13.9 12.2

February 12.0 12.5 13.8 12.2

March 11.9 12.8 13.7 12.3

April 11.9 13.0 13.6 12.5

May 11.9 13.2 13.5 12.6

June 12.0 13.4 13.4 12.7

Annual average 11.9 12.6 13.7 12.6

Young unemployed (a) (b) - '000 July 242.8 251.2 281.8 278.5 272.6

August 243.0 254.7 284.8 274.7 273.6

September 243.4 257.1 287.1 270.5 273.7

October 244.4 257.7 289.1 266.3

November 246.1 256.6 290.6 262.5

December 248.1 255.4 291.4 259.6

January 249.0 255.6 290.9 258.0

February 248.5 258.2 289.6 258.2

March 247.2 263.1 287.9 260.1

April 246.1 268.8 286.4 263.4

May 246.1 273.8 284.7 267.2

June 247.9 278.2 282.1 270.4

Annual average 246.0 260.9 287.2 265.8

(a) People classified as unemployed and aged 15 to 24 years. Update

(b) Trend estimates

Source: ABS, Labour force , cat. no. 6202.0

17 November 2016

11.0

12.0

13.0

14.0

15.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Unemployment rate - per cent What is measured?

The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Young unemployed people are those classified as unemployed and aged 15 to 24 years. The youth unemployment rate expresses the number of young unemployed people as a proportion of the youth labour force (in the same age group).

Small area estimates of unemployment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.2 Unemployment

 1.4 Long-term unemployment

 1.6 ANZ job advertisements

 1.8 Jobseekers receiving allowances

 1.9 Underemployment

Related publications  ABS, Participation, Job Search and Mobility, cat. no. 6226.0 (see also ABS cat. no. 6222.0, 6220.0 and

6265.0).

 ABS, Barriers and incentives to labour force participation, cat. no. 6239.0

 ABS, Education and work, cat. no. 6227.0

Monthly statistical bulletin

6

1.6 ANZ job advertisements

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Advertisements (a) (b) - number July 157 066 128 479 133 943 148 133 158 526

August 153 453 127 463 135 036 150 001 159 214

September 149 400 126 761 136 441 151 880 159 735

October 145 384 126 294 137 820 153 539

November 141 877 126 346 139 006 154 729

December 139 201 126 962 140 012 155 291

January 137 342 127 969 141 092 155 455

February 136 014 129 133 142 166 155 474

March 134 768 130 285 143 122 155 667

April 133 277 131 359 144 035 156 179

May 131 560 132 291 145 091 156 909

June 129 860 133 088 146 461 157 739

Annual average 140 767 128 869 140 352 154 250

Annual change (b) - per cent July -9.1 -18.2 4.3 10.6 7.0

August -10.6 -16.9 5.9 11.1 6.1

September -12.3 -15.2 7.6 11.3 5.2

October -14.0 -13.1 9.1 11.4

November -15.4 -10.9 10.0 11.3

December -16.4 -8.8 10.3 10.9

January -17.1 -6.8 10.3 10.2

February -17.5 -5.1 10.1 9.4

March -17.9 -3.3 9.9 8.8

April -18.4 -1.4 9.6 8.4

May -18.8 0.6 9.7 8.1

June -18.8 2.5 10.0 7.7

Annual average -15.5 -8.1 8.9 9.9

(a) Average total number of newspaper and internet job advertisements per week. Update (b) Trend estimates

Source: ANZ Banking Group, Job advertisements series

7 November 2016

100 000

120 000

140 000

160 000

180 000

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Total number What is measured?

The ANZ job advertisement series measures the average weekly number of job advertisements in major metropolitan newspapers and on the internet. These figures are available monthly since January 1975 for newspapers and since July 1999 for the internet. Note: ANZ job advertisements data are revised monthly.

Related statistics in this bulletin  1.1 Employment  1.2 Unemployment  1.3 Labour force  1.4 Long-term unemployment  1.8 Jobseekers receiving allowances  1.9 Underemployment

Related publications  ABS, Job vacancies, cat. no. 6354.0

Monthly statistical bulletin

7

1.7 Industrial disputes

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Working days lost - '000 September 110.0 23.0 24.6 29.1

December 25.7 36.1 16.9 19.1

March 52.1 9.7 20.4 27.9

June 19.8 20.2 14.8 24.5

Annual (a) 207.6 88.9 76.8 100.7

Working days lost per '000 employees September 10.8 2.2 2.4 2.8

December 2.5 3.5 1.6 1.8

March 5.0 0.9 1.9 2.6

June 1.9 1.9 1.4 2.3

Update

(a) 12 months ended June.

Source: ABS, Industrial disputes , cat. no. 6321.0.55.001

1 December 2016

0

3

6

9

12

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Days lost per '000 employees What is measured?

The ABS provides industrial disputes data for all disputes where ten or more working days were lost. Disputes where fewer working days were lost are excluded.

To be included, industrial disputes must be unauthorised stop work meetings; general strikes; sympathetic strikes; political or protest strikes; rotating or revolving strikes; unofficial strikes; or work stoppages initiated by employers.

Work-to-rules, go-slows and bans such as overtime bans are excluded.

Related publications  ABS, Characteristics of employment, cat. no. 6333.0 (see also ABS cat. no. 6310.0)

Monthly statistical bulletin

8

1.8 Jobseekers receiving allowances

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Jobseeker allowance recipients (a) - '000 July 339.3 411.5 413.9 479.7 509.8

August 330.8 394.0 403.0 530.6 497.5

September 330.4 384.5 399.3 526.7

October 332.9 384.0 398.8 514.9

November 335.4 385.2 397.2 509.1

December 349.8 406.7 421.2 531.4

January 404.6 428.2 437.7 550.0

February 405.7 425.6 440.0 542.7

March 385.1 417.5 431.1 542.8

April 394.9 415.5 435.9 530.1

May 400.5 417.6 430.3 517.7

June 406.8 417.3 441.4 511.2

Annual average 368.0 407.3 420.8 523.9

Annual change - per cent July .. 21.3 0.6 .. 6.3

August .. 19.1 2.3 .. -6.2

September .. 16.4 3.9 ..

October .. 15.3 3.9 ..

November .. 14.8 3.1 ..

December .. 16.3 3.6 ..

January .. 5.8 2.2 ..

February .. 4.9 3.4 ..

March .. 8.4 3.3 ..

April .. 5.2 4.9 ..

May .. 4.3 3.0 ..

June .. 2.6 5.8 ..

Annual average .. 10.7 3.3 ..

(a) Comprises jobseekers receiving Newstart Allowance and Youth Allowance (other).

Update

Source: Department of Social Services, Labour market and related payments: a monthly profile 2 November 2016

0

100

200

300

400

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Persons '000

Short-term allowance recipients Long-term allowance recipients

What is measured? The Department of Social Services produces regular data on various labour market related payments delivered by Centrelink. The jobseekers data provides information on people receiving Newstart Allowance and those receiving Youth Allowance who are not full-time students or full-time apprentices. Newstart Allowance is paid to eligible unemployed people aged 22 years and over (in July 2012 eligibility changed from 21 years), but below the Age Pension age. These people are subject to an activity test and must be actively seeking and willing to work, or be actively improving their prospects of becoming employed. People classified as ‘Youth Allowance (other)’ are those who would usually be engaged in job search. Note: there have been several breaks in the time series, the most recent being at 1 July 2015 when a new employment services model (‘jobactive’) was introduced. The number of jobseekers increased as a result of changes to job search requirements. Caution should be used when comparing figures before and after this period. The was a previous series break in July 2012.

Related statistics in this bulletin  1.2 Unemployment  1.4 Long-term unemployment  1.5 Youth unemployment  1.6 ANZ job advertisements

Related publications  ABS, Australian labour market statistics, cat. no. 6105.0-see Jul 2014

Monthly statistical bulletin

9

1.9 Underemployment

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Underemployment rate (a) - per cent August 7.2 7.7 8.2 8.4 8.6

November 7.2 7.7 8.5 8.4

February 7.3 7.8 8.5 8.4

May 7.5 7.9 8.5 8.5

Annual average 7.3 7.8 8.4 8.4

Labour force underutilisation rate (a) - per cent August 12.5 13.5 14.4 14.4 14.3

November 12.5 13.6 14.7 14.3

February 12.8 13.7 14.7 14.2

May 13.2 13.9 14.6 14.2

Annual average 12.7 13.7 14.6 14.3

Number underemployed (a) - '000 August 866.3 931.9 1008.4 1057.3 1095.0

November 862.9 941.1 1042.4 1057.0

February 880.7 946.6 1059.1 1065.1

May 909.7 969.7 1059.6 1079.6

Annual average 879.9 947.3 1042.4 1064.8

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 (quarterly update) 22 December 2016

3.0

7.0

11.0

15.0

19.0

Aug-13 Aug-14 Aug-15 Aug-16 Aug-17

Per cent Underemployment rate

Labour force underutilisation rate

What is measured? The ABS labour force survey provides regular estimates of Australians aged 15 years and over and their labour force status. A person’s status is determined through questions about their experiences during a specific time period. Generally, a person is considered to be underemployed if they were: employed part-time and wanted to work more hours and were available to do so; or employed full-time but only working part-time hours due to economic reasons (e.g. being stood down). The underemployment rate expresses the number of underemployed people as a proportion of the labour force. The underutilisation rate is an extended measure of underutilised labour, which includes the unemployed and expresses the sum of these two groups as a proportion of the labour force.

Related statistics in this bulletin  1.1 Employment  1.2 Unemployment  1.3 Labour force  1.5 Youth unemployment  1.6 ANZ job advertisements

Related publications  ABS, Labour force, detailed, quarterly, cat. no. 6291.0.55.003  ABS, Participation, Job Search and

Mobility, cat. no. 6226.0 (see also ABS cat. no. 6265.0)  ABS, Australian labour market statistics, cat. no. 6105.0-see Jan 2011  ABS, Barriers and incentives to labour

force participation, cat. no. 6239.0

Monthly statistical bulletin

10

2.1 Average weekly ordinary time earnings (AWOTE)

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

AWOTE - $ per week

November 1330.1 1396.0 1437.0 1477.0 1500.5

May 1349.2 1420.9 1454.1 1483.1 1516.0

Annual average 1339.7 1408.5 1445.6 1480.1 1508.3

AWOTE annual change - per cent

November 4.3 5.0 2.9 2.8 1.6

May 3.4 5.3 2.3 2.0 2.2

Annual average 3.9 5.1 2.6 2.4 1.9

Real AWOTE (a) - $ per week

November 1447.4 1486.3 1489.1 1504.7 1500.8

May 1459.4 1501.1 1491.2 1498.3 1509.6

Annual average 1453.4 1493.7 1490.1 1501.5 1505.2

Real AWOTE annual change - per cent

November 1.3 2.7 0.2 1.0 -0.1

May 2.2 2.9 -0.7 0.5 1.2

Annual average 1.7 2.8 -0.2 0.8 0.5

Sources: ABS, Average weekly earnings , cat. no. 6302.0

ABS, Consumer price index , cat. no. 6401.0

Update

23 February 2017

(a) Expressed in June 2015 dollars; converted to real terms using the consumer price index.

1 250

1 300

1 350

1 400

1 450

1 500

1 550

May-11 May-12 May-13 May-14 May-15 May-16

Dollars

AWOTE

Real AWOTE (June 2016 dollars)

What is measured? Average weekly ordinary time earnings is a measure of before tax earnings of full-time adult employees; it excludes any overtime payments. It is calculated by dividing an estimate of gross—before deductions—weekly earnings by the number of employees. AWOTE has been measured since December 1983. AWOTE has become a standard measure for wage levels and is enshrined in some legislation as a benchmark for the calculation of some social security payments. To gauge how earnings are changing in comparison with inflation, the inflationary component is removed using the consumer price index; this leaves the real AWOTE series.

Related statistics in this bulletin  2.2 Male total average weekly earnings  2.3 Wage price index  2.4 Consumer price index  3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0  ABS, Characteristics of

employment, cat. no. 6333.0  ABS, Labour price index, cat. no.6345.0  ABS, Australian national accounts:

national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

11

2.2 Male total average weekly earnings (MTAWE)

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

MTAWE - $ per week

November 1 255 1 324 1 348 1 372 1 375

May 1 285 1 357 1 365 1 370 1 395

Annual average 1 270 1 341 1 356 1 371 1 385

MTAWE annual change - per cent

November 3.6 5.5 1.8 1.8 0.2

May 3.9 5.6 0.6 0.4 1.9

Annual average 3.8 5.5 1.2 1.1 1.1

Real MTAWE (a) - $ per week

November 1 366 1 410 1 397 1 397 1 377

May 1 390 1 433 1 399 1 384 1 395

Annual average 1 378 1 422 1 398 1 390 1 386

Real MTAWE annual change - per cent

November 0.6 3.2 -0.9 0.0 -1.4

May 2.7 3.1 -2.4 -1.1 0.8

Annual average 1.7 3.2 -1.6 -0.6 -0.3

Sources: ABS, Average weekly earnings , cat. no. 6302.0

ABS, Consumer price index , cat. no. 6401.0

Update

23 February 2017

(a) Expressed in June 2015 dollars; converted to real terms using the consumer price index.

1 150

1 200

1 250

1 300

1 350

1 400

1 450

1 500

May-11 May-12 May-13 May-14 May-15 May-16

Dollars

MTAWE Real MTAWE (June 2016 dollars)

What is measured? Male total average weekly earnings (MTAWE) is a measure of average before tax earnings of all male employees including any overtime payments. It is calculated by dividing an estimate of male gross—before deductions—weekly total earnings by the number of male employees. MTAWE, like AWOTE, is a standard measure for wage levels and is enshrined in a range of legislation. For example, MTAWE is used as a benchmark in setting pensions. MTAWE is used to compare changes in wages over long periods; MTAWE is available from 1963. To gauge increase in earnings in comparison with inflation, the inflationary component is removed using the consumer price index; this leaves the real MTAWE series.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings  2.3 Wage price index  2.4 Consumer price index  3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0  ABS, Characteristics of

employment, cat. no. 6333.0  ABS, Labour price index, cat. no. 6345.0  ABS, Australian national accounts:

national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

12

2.3 Wage price index (WPI)

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Wage price index (a) (b) - index

September 109.4 113.4 116.5 119.4 122.1

December 110.4 114.2 117.2 120.1 122.7

March 111.5 115.0 118.0 120.8 123.3

June 112.4 115.7 118.7 121.4 123.9

Annual average 110.9 114.6 117.6 120.4 123.0

Quarterly change (b) - per cent

September 0.8 0.9 0.7 0.6 0.6

December 0.9 0.7 0.6 0.6 0.5

March 1.0 0.7 0.7 0.6 0.5

June 0.8 0.6 0.6 0.5 0.5

Annual change (b) - per cent

September 3.7 3.7 2.7 2.5 2.3

December 3.6 3.4 2.6 2.5 2.2

March 3.7 3.1 2.6 2.4 2.1

June 3.6 2.9 2.6 2.3 2.1

Annual average 3.6 3.3 2.6 2.4 2.1

(a) Total hourly rate of pay excluding bonuses, all sectors. Index base: 2008-09 = 100.0. (b) Trend data

Source: ABS, Wage Price Index, Australia, cat. no. 6345.0

Update

Note: Prior to September quarter 2012, this publication was known as Labour Price Index . The catalogue number (6345.0) remains unchanged.

16 November 2016

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent

What is measured? The wage price index is to wage costs what the consumer price index is to the costs of consumer goods and services. It is calculated by comparing the cost of wages over time for the same work level and output. This means that it excludes the effects of changes in the nature of work performed, the quantity of work performed, the characteristics of the particular occupation and the location of work. The wage price index is available from the September

quarter 1997.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings

 2.2 Male total average weekly earnings

 2.4 Consumer price index

 3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0

 ABS, Characteristics of employment, cat. no. 6333.0

 ABS, Average weekly earnings, cat. no. 6302.0

 ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

13

2.4 Consumer price index (CPI)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Consumer price index (a) September 101.8 104.0 106.4 108.0 109.4

December 102.0 104.8 106.6 108.4

March 102.4 105.4 106.8 108.2

June 102.8 105.9 107.5 108.6

Annual average 102.3 105.0 106.8 108.3

Consumer price index quarterly change - per cent September 1.4 1.2 0.5 0.5 0.7

December 0.2 0.8 0.2 0.4

March 0.4 0.6 0.2 -0.2

June 0.4 0.5 0.7 0.4

Consumer price index annual change (b) - per cent September 2.0 2.2 2.3 1.5 1.3

December 2.2 2.7 1.7 1.7

March 2.5 2.9 1.3 1.3

June 2.4 3.0 1.5 1.0

Underlying inflation annual change (c) - per cent September 2.4 2.4 2.5 2.2 1.5

December 2.3 2.7 2.3 2.1

March 2.5 2.7 2.4 1.6

June 2.5 2.7 2.3 1.6

(a) All groups, eight capital cities index. Base: 2011-12 = 100.0. (b) Referred to as the 'headline' inflation rate. (c) The average of the Reserve Bank of Australia weighted median and trimmed

mean price inflation measures. Referred to as the 'underlying' inflation rate.

Source:

ABS, Consumer price index, cat. no. 6401.0 Update

RBA, Statistical Tables, Prices and Inflation 25 January 2017

0

1

2

3

4

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Annual change - per cent

Headline rate Underlying rate

RBA Target range

What is measured? The consumer price index (CPI) measures the relative cost of a basket of goods and services bought by capital city households. The basket is regularly updated to incorporate changes in the composition of purchases and linked so a constant comparable measure of consumer price inflation is available from 1948. Changes in the CPI are called ‘headline’ inflation.

The CPI forms a base for measures of price change used by the RBA, the ‘trimmed mean’ and the ‘weighted median’. These smooth the volatility of some price changes to give what are called ‘underlying’ or ‘core’ inflation measures.

The RBA inflation target of 2-3 per cent is a medium-term average for ‘underlying’ inflation rather than a rate that must be held at all times.

Related statistics in this bulletin  2.3 Wage price index

 2.5 Implicit price deflator for non-farm GDP

 8.2 Consumer prices

Related publications  ABS, Information paper: Introduction of the 16th series Australian Consumer Price Index,

cat. no. 6470.0.

 ABS, A guide to the consumer price index, cat. no. 6440.0

 ABS, Consumer price index: concepts, sources and methods, cat. no. 6461.0

 ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 Melbourne Institute, Survey of consumer inflationary expectations

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

14

2.5 Implicit price deflator for non-farm GDP

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Index (a) (b) September 99.1 98.2 99.9 99.4 98.6

December 98.9 98.3 100.3 99.2 98.5

March 98.6 98.6 100.2 99.1 98.4

June 98.3 99.2 99.8 98.9 98.5

Annual index 98.9 98.6 100.0 99.2 -0.8

Quarterly change (b) - per cent September 0.5 -0.1 0.7 -0.4 -0.3

December -0.2 0.1 0.4 -0.2 -0.1

March -0.3 0.3 -0.1 -0.1 -0.1

June -0.3 0.6 -0.4 -0.2 0.1

Annual change (b) - per cent September 3.9 -0.9 1.7 -0.5 -0.8

December 2.6 -0.6 2.0 -1.1 -0.7

March 1.1 0.0 1.6 -1.1 -0.7

June -0.3 0.9 0.6 -0.9 -0.4

(a) Ratio of current price non-farm gross domestic product to chain volume non-farm gross domestic product. Reference year for implicit price deflators is 2013-14. (b) All figures are trend, except for the annual index figure, which is from the original series.

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

Update

7 December 2016

-2

0

2

4

6

Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent

What is measured? The implicit price deflator (IPD) for non-farm gross domestic product is used to measure price changes throughout the wider economy, much as the consumer price index measures price changes for consumer goods and services in the capital cities.

Ideally, the IDP for GDP would be used but the volatility in the farm sector—agriculture, forestry and fishing—often distorts the IPD. Therefore, even though the farm sector only accounts for around 3 per cent of GDP, it is excluded so a more stable measure of price change is achieved.

The measure is called an implicit price deflator because it is calculated, or implied, from current price and chain volume measures series.

Related statistics in this bulletin  2.3 Wage price index

 2.4 Consumer price index

 3.1 Gross domestic product

 3.2 Non-farm gross domestic product

Related publications  ABS, Labour price index, cat. no. 6345.0

 ABS, Consumer price index, cat. no. 6401.0

Monthly statistical bulletin

15

3.1 Gross domestic product (GDP)

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Current prices (a) - $ million

September 367 931 377 393 391 201 400 087 407 725

December 371 484 379 203 395 927 401 603 410 470

March 373 600 381 955 398 690 403 802 413 818

June 375 579 386 113 399 488 405 803 417 344

Annual (b) 1 491 046 1 524 383 1 584 578 1 610 828 1 649 966

Chain volume measures (c) - $ million

September 371 602 383 969 391 712 402 083 412 054

December 375 886 385 552 394 836 404 164 415 478

March 379 270 387 164 397 774 406 559 418 930

June 381 982 389 081 400 083 409 099 421 919

Quarterly change (from previous quarter) (d) - per cent

September 1.1 0.5 0.7 0.5 0.7

December 1.2 0.4 0.8 0.5 0.8

March 0.9 0.4 0.7 0.6 0.8

June 0.7 0.5 0.6 0.6 0.7

Annual change (from same quarter of previous year) (d) - per cent

September 2.9 3.3 2.0 2.6 2.5

December 3.6 2.6 2.4 2.4 2.8

March 3.9 2.1 2.7 2.2 3.0

June 3.9 1.9 2.8 2.3 3.1

Update 7 December 2016

(a) Calculated on the trend series using current prices.

(c) Calculated on the trend series using chain volume measures. Reference year for chain volume measures is 2013-14. Chain volume measures are generally not additive.

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(b) 12 months ended June. Calculated on the quarterly original series using current prices.

(d) Calculated on the trend series using chain volume measures.

0

1

2

3

4

5

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent (d)

What is measured? Gross domestic product (GDP) measures the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production but before deducting allowances for the consumption of fixed capital.

GDP is a measure of the size of the economy and is expressed in current prices or chain volume measures (where the effects of price change are removed). Three measures of GDP are produced each quarter. They are a production measure, an income measure and an expenditure measure. The GDP figures shown in this table are the headline figures, and are the average of the three measures.

From October 2014, seasonally adjusted estimates have been replaced with trend estimates.

Related statistics in this bulletin  3.2 Non-farm gross domestic product

 3.3 Wages and profits share

 3.4 Household debt and household saving ratios

 3.5 Labour productivity  8.1 Economic growth

Related publications  Treasury, Budget papers

 Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook

 NAB, Business Research and Insights

 Deloitte Access Economics, Business Outlook

 Melbourne Institute, Monthly Bulletin of Economic Trends

Monthly statistical bulletin

16

3.2 Non-farm gross domestic product

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Current prices (a) - $ million

September 360 379 369 746 383 275 392 173 398 892

December 363 979 371 375 388 109 393 327 401 686

March 366 116 374 017 390 916 395 124 404 940

June 368 061 378 119 391 718 396 925 408 326

Annual (b) 1 460 987 1 492 912 1 553 273 1 577 039 1 614 576

Chain volume prices (c)- $ million

September 363 717 376 388 383 649 394 517 404 460

December 368 018 377 935 386 841 396 458 407 905

March 371 469 379 373 389 970 398 763 411 372

June 374 282 381 113 392 470 401 394 414 559

Quarterly change (from previous quarter) (d) - per cent

September 1.1 0.6 0.7 0.5 0.8

December 1.2 0.4 0.8 0.5 0.9

March 0.9 0.4 0.8 0.6 0.8

June 0.8 0.5 0.6 0.7 0.8

Annual change (from same quarter of previous year) (d) - per cent

September 2.9 3.5 1.9 2.8 2.5

December 3.6 2.7 2.4 2.5 2.9

March 4.0 2.1 2.8 2.3 3.2

June 4.0 1.8 3.0 2.3 3.3

(a) Calculated on the trend series using current prices.

(d) Calculated on the trend series using chain volume measures.

Update 7 December 2016 Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(b) 12 months ended June. Calculated on the quarterly original series using current prices.

(c) Calculated on the trend series using chain volume measures. Reference year for chain volume measures is 2013-14. Chain volume measures are generally not additive.

0

1

2

3

4

5

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent (d) What is measured?

GDP measures the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production but before deducting allowances for the consumption of fixed capital.

GDP is a measure of the size of the economy and is expressed in current prices or chain volume measures (where the effects of price change are removed).

GDP can be split into farm GDP and non-farm GDP for analysis purposes. Farm GDP can be very volatile, for example, due to the effects of weather. Non-farm GDP is often used because it is a more stable indicator.

From October 2014, seasonally adjusted estimates have been replaced with trend estimates.

Related statistics in this bulletin  2.5 Implicit price deflator for non-farm GDP

 3.1 Gross domestic product

 3.3 Wages and profits share

 3.4 Household debt and household saving ratios

 3.5 Labour productivity

 8.1 Economic growth

Related publications  Treasury, Budget papers

 Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook

 NAB, Business Research and Insights

Monthly statistical bulletin

17

3.3 Wages and profits share

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Wage share (a) (b) - per cent

September 52.2 53.9 53.6 53.9 54.0

December 52.6 53.8 53.5 53.9 54.2

March 53.3 53.8 53.5 53.8 54.2

June 53.7 53.7 53.7 53.9 54.2

Annual average (c) 53.0 53.8 53.6 53.9 54.2

Profit share (a) (d) - per cent

September 28.6 26.6 27.0 26.3 25.1

December 28.2 26.5 27.1 25.9 24.9

March 27.5 26.5 27.0 25.6 24.8

June 26.9 26.7 26.7 25.4 24.7

Annual average (c) 27.8 26.6 27.0 25.8 24.9

(a) Calculated on the trend series using current prices. (b) Compensation of employees as a proportion of total factor income. (c ) Year ending June.

Update

(d) Gross operating surplus of corporations as a proportion of total factor income.

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

7 December 2016

What is measured? Gross Domestic Product can be derived from income flows to the factors of production (labour and capital).

The income measure of Gross Domestic Product (GDP) can be broken down into ‘total factor income’ plus taxes less subsidies.

‘Total factor income’ is that part of the cost of producing GDP which consists of gross payments to labour and capital.

The ‘wage share’ is the total compensation of employees as a percentage of total factor income.

The ‘profit share’ is the Gross Operating Surplus (GOS) of corporations as a percentage of total factor income. GOS is a measure of the surplus accruing to owners of capital from processes of production.

From October 2014, seasonally adjusted estimates have been replaced with trend estimates.

Related statistics in this bulletin  3.1 Gross domestic product

 3.2 Non-farm gross domestic product

 3.4 Household debt and household saving ratios

 3.5 Labour productivity

Related publications  Treasury, Budget papers

 OECD, Economic Outlook

 NAB, Business Research and Insights

 Deloitte Access Economics, Business Outlook

53.0

53.2

53.4

53.6

53.8

54.0

54.2

54.4

24

24

25

25

26

26

27

27

28

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Profit share (left axis)

Wages share (right axis)

Per cent Per cent

Monthly statistical bulletin

18

3.4 Household debt and household saving ratios

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Household debt ratio (a) - per cent

September 167.2 165.7 169.3 174.2 181.8

December 166.6 165.6 170.9 176.1 182.9

March 166.7 166.0 171.5 177.8 183.7

June 167.5 169.3 173.5 180.8

Household debt servicing ratio (b) - per cent September 11.2 10.2 9.1 8.8 8.4

December 10.9 9.8 8.8 8.8 8.6

March 10.7 9.5 8.8 8.7 8.7

June 10.2 9.4 8.8 8.4

Household saving ratio (c) - per cent

September 11.0 9.4 9.6 9.1 8.5

December 11.5 10.2 10.1 9.1 7.5

March 10.3 11.0 9.8 8.5 8.0

June 11.7 10.2 9.7 8.9 8.0

(b ) Calculated by the RBA using seasonally adjusted data. (c) Seasonally adjusted.

Update 07/12/2016 Household saving ratio

(a) Calculated by the RBA using original (for debt) and seasonally adjusted (for household income) data.

Last business Friday of December 2016 (RBA Debt ratios)

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0, for the household saving ratio. Reserve Bank of Australia, Statistics Tables, Household and Business Finances (Table E2), for the household debt and debt servicing ratios.

What is measured? The household debt ratio measures housing and other personal debt, as a proportion of annualised household disposable income.

The household debt servicing ratio measures interest payments on housing and other personal debt as a proportion of quarterly household disposable income.

The household saving ratio is the ratio of household net saving to household net disposable income. Housing net saving is calculated as household net disposable income less household final consumption expenditure. Household net disposable income is calculated as household gross disposable income less household consumption of fixed capital.

Caution should be exercised when interpreting the household saving ratio, as major components of household income and expenditure may be subject to significant revisions.

The RBA advises that the housing debt ratio and household debt servicing ratio series were revised to align the scope of the household sector to be consistent with the National Accounts. This occurred on 25 September 2015, and affects the entire time series.

Related statistics in this bulletin  3.1 Gross domestic product

 3.2 Non-farm gross domestic product

 5.4 Home loan affordability

Related publications  Treasury, Budget papers

 OECD, Economic Outlook

155

160

165

170

175

180

185

190

0

2

4

6

8

10

12

14

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Household savings ratio (left axis)

Household debt servicing ratio (left axis)

Household debt ratio (right axis)

Per cent Per cent

Monthly statistical bulleti n

19

3.5 Labour productivity (market sector)

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Labour productivity index (a) (b)

September 94.1 97.1 98.9 100.6 102.2

December 95.1 97.6 99.9 100.9 102.6

March 95.7 97.9 100.5 101.4 103.3

June 96.5 98.2 100.6 101.9 104.2

Annual average (c) 94.5 98.0 100.0 101.5 102.0

Quarterly change (from previous quarter) - per cent (d)

September 1.3 0.7 0.8 0.0 0.3

December 1.1 0.5 1.0 0.3 0.4

March 0.7 0.3 0.6 0.5 0.7

June 0.8 0.3 0.1 0.5 0.9

Annual change (from same quarter of previous year) - per cent (d) \ September 2.4 3.2 1.9 1.7 1.6

December 3.7 2.6 2.4 1.0 1.7

March 4.0 2.3 2.7 0.9 1.9

June 3.9 1.8 2.4 1.3 2.3

Annual average (e) 3.5 2.5 2.3 1.2 1.9

(a) Using trend data. (b) Reference year for index is 2013-14= 100.0. (c ) Average for year ending 30 June. Using original data. (d) Using trend data. (e) Annual average of year ending 30 June, using original data.

Update

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

7 December 2016

0

1

2

3

4

5

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent (from same quarter of previous year)

What is measured? The ratio of Gross Value Added to hours worked in the market sector can be used to measure changes in labour productivity.

The market sector is defined to include all industries except for: Public Administration and safety; Education and training; and Health care and social assistance.

It should be noted that the labour productivity measure reflects not only the contribution of labour to changes in production per hour worked, but also the contribution of capital and other factors (such as managerial efficiency and economies of scale).

From October 2014, seasonally adjusted estimates have been replaced with trend estimates.

Related statistics in this bulletin  3.1 Gross domestic product

 3.2 Non-farm gross domestic product

 3.3 Wages and profits share

 3.4 Household debt and household saving ratios

Related publications  Treasury, Budget papers

 Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook

 NAB, Business Research and Insights

Monthly statistical bulletin

20

4.1 Retail turnover

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Value (a) - $ million July 21 616.6 22 096.5 23 313.9 24 373.5 25 059.2

August 21 632.7 22 201.5 23 395.0 24 461.5 25 094.2

September 21 625.7 22 330.3 23 621.2 24 549.3

October 21 621.9 22 468.0 23 686.5 24 629.3

November 21 638.3 22 606.1 23 749.2 24 700.7

December 21 683.4 22 878.7 23 813.2 24 764.4

January 21 748.6 22 971.2 23 886.0 24 820.2

February 21 816.7 23 035.1 23 966.8 24 866.7

March 21 878.1 23 080.2 24 051.2 24 907.8

April 21 928.0 23 119.3 24 134.4 24 948.0

May 21 970.3 23 167.4 24 212.9 24 987.2

June 22 021.6 23 233.8 24 291.0 25 024.2

Annual (b) 260 851.3 272 920.2 285 999.7 297 787.8

This month compared to same month in previous year - % change (a)

July 4.1 2.2 5.5 4.5 2.8

August 3.8 2.6 5.4 4.6 2.6

September 3.5 3.3 5.8 3.9

October 3.2 3.9 5.4 4.0

November 3.1 4.5 5.1 4.0

December 3.3 5.5 4.1 4.0

January 3.4 5.6 4.0 3.9

February 3.4 5.6 4.0 3.8

March 3.2 5.5 4.2 3.6

April 2.8 5.4 4.4 3.4

May 2.4 5.4 4.5 3.2

June 2.2 5.5 4.6 3.0

Annual (b) 2.7 4.6 4.8 4.1

Update

Source: ABS, Retail Trade, Australia, cat. no. 8501.0 4 November 2016

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(b) 12 months ended June.

(c) Estimate are presented in current price terms, and therefore reflect both price and volume changes.

0

2

4

6

8

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent What is measured?

The ABS ‘Retail Trade’ publication provides estimates of the value of turnover of retail trade for Australian businesses. Turnover includes wholesale and retail sales, takings from repairs, meals and hiring of goods, some commissions, and since July 2000, the GST. Data is derived by the ABS from the monthly Retail Business Survey. The scope of this Survey is all employing retail trade businesses who predominantly sell to households. It includes 500 large businesses and a sample of 2,700 smaller businesses. For the purposes of the Survey, businesses are classified using the Australian and New Zealand Standard Industrial Classification. However, the Retail Business Survey does not include all classes in the ANZSIC Retail Trade Division, and also includes cafes, restaurants and take-away food services from the Accommodation and Food Services Division. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin:  2.1 Average weekly ordinary time earnings  2.4 Consumer price index  4.2 Motor vehicle sales  4.4 Business investment

Related publications  NAB, Monthly Business Survey  Westpac - Melbourne Institute, Consumer Sentiment Bulletin

Monthly statistical bulletin

21

4.2 Motor vehicle sales

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Total vehicle sales (a)

July 93 348 94 422 93 027 96 504 98 394

August 94 423 94 384 92 940 96 935 98 850

September 95 398 94 441 92 794 97 262 99 294

October 96 109 94 489 92 776 97 473

November 96 344 94 396 92 994 97 666

December 96 096 94 099 93 381 97 811

January 95 602 93 619 93 837 97 889

February 95 165 93 094 94 340 97 877

March 94 916 92 700 94 781 97 802

April 94 811 92 531 95 192 97 762

May 94 709 92 660 95 589 97 797

June 94 551 92 900 96 031 98 017

Annual (c) 1 137 889 1 122 467 1 131 706 1 175 121

This month compared to same month in previous year - per cent change (a)

July 9.3 1.2 -1.5 3.7 2.0

August 9.8 0.0 -1.5 4.3 2.0

September 10.4 -1.0 -1.7 4.8 2.1

October 11.0 -1.7 -1.8 5.1

November 11.2 -2.0 -1.5 5.0

December 10.5 -2.1 -0.8 4.7

January 9.0 -2.1 0.2 4.3

February 7.3 -2.2 1.3 3.7

March 5.8 -2.3 2.2 3.2

April 4.6 -2.4 2.9 2.7

May 3.5 -2.2 3.2 2.3

June 2.4 -1.7 3.4 2.1

Annual (c) 7.3 -1.4 0.8 3.8

Update xx

Update

Source: ABS, Sales of New Motor vehicles , Australia , cat. no. 9314.0

(b) The statistics are based on the VFACTS series produced by the Federal Chamber of Automotive Industries (FCAI). VFACTS reports the numbers of new motor vehicle sales by dealers and direct sales by manufacturers throughout Australia.

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(c) 12 months ended June.

16 November 2016

0

10,000

20,000

30,000

40,000

50,000

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Number

Passenger vehicles Sports Utility Vehicles Other vehicles

What is measured? The ABS publication ‘Sales of New Motor Vehicles’ presents monthly statistics for new motor vehicle sales in Australia. The data can be broken into ‘passenger’, ‘sports utility’ and ‘other’ vehicles. ‘Other vehicles’ includes goods carrying vans, rigid trucks, prime movers and buses. The numbers in the two tables represent total motor vehicle sales. The graph shows sales of passenger, sports utility and other vehicles. Data at a state/territory level, by category, and in original, seasonally adjusted and trend terms is available from the ABS publication. This series is subject to large and irregular fluctuations and care should be taken when interpreting movements in the series. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin  4.1 Retail turnover

Related publications  ABS, Motor Vehicle Census Australia, cat. no. 9309.0  ABS, Survey of Motor Vehicle Use, Australia, cat. no. 9208.0  FCAI, Vehicle sales http://www.fcai.com.au/sales  NAB, Monthly Business Survey  Westpac - Melbourne Institute, Consumer Sentiment Bulletin

Monthly statistical bulletin

22

4.3 Dwelling approvals

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Number (a) \ July 13 473 15 011 16 960 19 831 20 254

August 13 617 15 509 17 315 19 520 20 384

September 13 656 16 057 17 677 19 263

October 13 602 16 571 18 124 19 096

November 13 526 16 916 18 648 19 068

December 13 486 16 999 19 206 19 216

January 13 432 16 880 19 730 19 428

February 13 440 16 655 20 156 19 645

March 13 564 16 487 20 391 19 834

April 13 799 16 451 20 399 19 978

May 14 127 16 500 20 310 20 051

June 14 552 16 674 20 118 20 135

Annual (b) 163 057 197 531 230 320 235 329

This month compared to same month in previous year - per cent change (a)

July 3.5 11.4 13.0 16.9 2.1

August 7.0 13.9 11.6 12.7 4.4

September 10.3 17.6 10.1 9.0

October 13.0 21.8 9.4 5.4

November 15.8 25.1 10.2 2.3

December 18.6 26.0 13.0 0.1

January 18.4 25.7 16.9 -1.5

February 15.8 23.9 21.0 -2.5

March 12.9 21.5 23.7 -2.7

April 11.0 19.2 24.0 -2.1

May 10.0 16.8 23.1 -1.3

June 10.2 14.6 20.7 0.1

Annual (b) 8.8 21.1 16.6 2.2

Update

Source: ABS, Building Approvals, Australia , cat. no. 8731.0

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(b) 12 months ended June.

2 November 2016

0

5 000

10 000

15 000

20 000

25 000

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Number What is measured?

The ABS publication ‘Building Approvals’ reports the number of dwelling units approved in Australia—where a dwelling is a self-contained suite of rooms for long-term residential use. The data for this publication is compiled from, amongst other sources, permits issued by various jurisdictions. It shows the number of dwelling units approved by state and territory, and by sector (private or public).

This publication also contains data on the value of building approved for residential buildings and non-residential buildings. This series is subject to large and irregular fluctuations and care should be taken when interpreting movements in the series. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin  5.2 Housing and cash interest rates  5.3 Lending for housing

 5.4 Home loan affordability

Related publications  ABS, Building Activity, Australia, cat. no. 8752.0

 ABS, Construction Work Done, Australia, cat. no. 8755.0  ABS, Dwelling Unit Commencements, Australia, cat. no. 8750.0

 ABS, Engineering Construction Activity, Australia, cat. no. 8762.0

Monthly statistical bulletin

23

4.4 Business investment

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Chain volume measures (a) (b) - $ million

September 60 042 69 351 64 829 61 895 56 280

December 63 184 68 132 64 671 60 991 54 538

March 65 970 66 358 63 769 59 776 52 936

June 68 241 65 156 62 705 58 092 51 655

Annual (c) 253 319 264 129 258 438 243 913 219 174

This quarter compared to same quarter in previous year - per cent change (a) (b)

September 20.9 15.5 -6.5 -4.5 -9.1

December 23.5 7.8 -5.1 -5.7 -10.6

March 22.9 0.6 -3.9 -6.3 -11.4

June 20.0 -4.5 -3.8 -7.4 -11.1

Annual (c) 22.7 4.3 -2.2 -5.6 -10.1

(c) Year ending 30 June.

Update 7 December 2016

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(a) Reference year for chain volume measures is 2013-14.

(b) Monthly figures (including the graph) are calculated using the trend series and chain volume measures. Annual figures are calculated using original, current data.

40 000

45 000

50 000

55 000

60 000

65 000

70 000

75 000

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

$ million

What is measured? Business investment is a component of the wider ABS System of National Accounts statistics. The business investment component measures private gross fixed capital formation in non-dwelling construction, machinery and equipment, ‘cultivated biological resources’ (such as livestock) and ‘intellectual property products’ (such as R&D) by private businesses.

This bulletin reports both monthly trend chain volume measures and annual original current measures for private business new capital formation. The ABS also publishes seasonally adjusted data for this series.

Prior to October 2014, seasonally adjusted figures were published.

Related statistics in this bulletin  1.1 Employment

 3.1 Gross domestic product

 3.3 Wages and profits share

 5.1 Business interest rates

 5.5 Stock exchange indexes

Related publications  NAB, Monthly Business Survey

 Westpac - Melbourne Institute, Consumer Sentiment Bulletin

Monthly statistical bulletin

24

4.5 Bankrupts

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Non-business related bankrupts - Number

September 4 281 3 914 3 498 3 406 3 187

December 4 097 3 892 3 408 3 286

March 3 884 3 998 3 624 3 277

June 4 071 3 160 3 403 3 476

Annual (b) 16 333 14 964 13 933 13 445

Business related bankrupts - Number

September 1 683 1 240 1 072 1 132 1 190

December 1 383 1 126 895 1 040

March 1 086 1 140 903 964

June 1 302 885 968 1 187

Annual (b) 5 454 4 391 3 838 4 323

Total bankrupts

September 5 964 5 154 4 570 4 538 4 377

December 5 480 5 018 4 303 4 326

March 4 970 5 138 4 527 4 241

June 5 373 4 045 4 371 4 663

Annual (b) 21 787 19 355 17 771 17 768

This quarter compared to same quarter in previous year - per cent change

September 1.0 -13.6 -11.3 -0.7 -3.5

December -5.3 -8.4 -14.2 0.5

March -14.0 3.4 -11.9 -6.3

June -3.8 -24.7 8.1 6.7

Annual (b) -5.5 -11.2 -8.2 0.0

Update 17 January 2017 Source: Australian Financial Security Authority

(a) The quarterly figures are provisional. Annual totals are verified and reported in AFSA's Annual Report. However, subsequent revisions are not made to the quarterly figures.

(b) Year ended 30 June.

0

2 000

4 000

6 000

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Number of total bankrupts

What is measured? The Australian Financial Security Authority (AFSA) is the Australian Government agency responsible for the administration and regulation of the personal insolvency system. Every quarter AFSA publishes results of their activities under the Bankruptcy Act 1966. AFSA publish preliminary figures in their reports and verified annual figures in their annual report.

The data is categorised into national, state/territory and regional results for different types of personal insolvency

activity (namely, bankrupts, debt agreements and personal insolvency agreements.)

This bulletin reports the data for non-business related bankrupts, business related bankrupts (where bankruptcy is directly related to a business interest) and total bankrupts. This data does not cover corporate insolvency.

From January 2013, AFSA (formerly known as Insolvency and Trustee Service Australia) commenced reporting the number of individual debtors, as opposed to the number of administrations.

Related statistics in this bulletin  3.4 Household debt and household saving ratios

 5.2 Housing and cash interest rates

 5.4 Home loan affordability

Monthly statistical bulletin

25

5.1 Business interest rates

Month 2011-12 2012-13 2013-14 2014-15 2015-16

Small business interest rate (a) (b) - per cent

September 8.50 7.70 6.80 6.60 6.00

December 8.15 7.25 6.75 6.55 6.00

March 8.20 7.20 6.70 6.30 6.10

June 7.75 7.05 6.70 6.00 5.85

Annual average (d) 8.15 7.30 6.74 6.36 5.99

Large business interest rate (a) (c) - per cent

September 6.45 5.65 4.75 4.45 4.05

December 6.25 5.20 4.60 4.40 4.10

March 6.20 5.10 4.55 4.20 4.10

June 5.70 4.95 4.50 4.10 4.05

Annual average (d) 6.15 5.23 4.60 4.29 4.08

(a) The data are weighted average rates, which are calculated from outstanding credit held by businesses. (b) In this context, a small business loan is defined as being less than $2 million. (c) In this context, a large business loan is defined as being $2 million or more. (d) Year ending June.

Source: RBA website, Statistical Tables, Interest Rates, Indicator Lending Rates (F5).

Update

Second business day of each month

0

1

2

3

4

5

6

7

8

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Per cent

Small business rate Large business rate

What is measured? The Reserve Bank of Australia publishes a range of interest rates on its website. The rates are indicative of the rates paid in different sectors of the economy.

The small business interest rate is the weighted average rate of interest being paid on business loans less than $2 million. The large business interest rate is the weighted average rate of interest being paid on business loans of $2 million or more.

The weighted average process generates interest rates that are not reflective of new lending interest rates because the calculation includes all previous loans issued that are still outstanding. The measure is a more accurate reflection of the debt servicing costs experienced, on average, by businesses.

Related statistics in this bulletin  2.4 Consumer price index

 3.1 Gross domestic product

 3.3 Wages and profits share

 4.4 Business investment

Related publications  RBA, Statement on Monetary Policy

 Melbourne Institute, Monthly Bulletin of Economic Trends

Monthly statistical bulletin

26

5.2 Housing and cash interest rates

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Banks' housing interest rate - per cent

July 6.85 6.20 5.95 5.45 5.40

August 6.85 5.95 5.95 5.45 5.25

September 6.85 5.95 5.95 5.45 5.25

October 6.65 5.95 5.95 5.45

November 6.65 5.95 5.95 5.65

December 6.45 5.95 5.95 5.65

January 6.45 5.95 5.95 5.65

February 6.45 5.95 5.65 5.65

March 6.45 5.95 5.65 5.65

April 6.45 5.95 5.65 5.65

May 6.20 5.95 5.45 5.40

June 6.20 5.95 5.45 5.40

Interbank overnight cash rate - per cent

July 3.50 2.75 2.50 2.00 1.75

August 3.50 2.55 2.50 2.00 1.52

September 3.50 2.50 2.50 2.00 1.50

October 3.27 2.50 2.50 2.00

November 3.25 2.50 2.50 2.00

December 3.03 2.50 2.50 2.00

January 3.00 2.50 2.50 2.00

February 3.00 2.50 2.28 2.00

March 3.00 2.50 2.25 2.00

April 3.00 2.50 2.25 2.00

May 2.80 2.50 2.04 1.77

June 2.75 2.50 2.00 1.75

Source: RBA website, Statistical Tables, Interest Rates , (F1.1 and F5).

Update First and second business day of each month.

0

1

2

3

4

5

6

7

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Per cent

Bank rates for housing loans Interbank Overnight Cash Rate

What is measured? The Reserve Bank of Australia (RBA) publishes a range of interest rate statistics on its website, including interest rates for personal and business lending.

The figures in the first table on the left are banks’ standard variable home loan rate for owner occupiers. These rates are calculated by the RBA using the average rates from large lenders.

The figures in the second table are the ‘Interbank Overnight Cash Rate.’ The ‘interbank rate’ is a weighted average of the interest rates at which banks have borrowed and lent exchange settlement funds overnight. This interest rate significantly affects other interest rates in the economy. Monthly figures are an average of daily figures for the month.

Related statistics in this bulletin  2.4 Consumer price index  3.4 Household debt and household saving ratios

 5.1 Business interest rates

 5.4 Home loan affordability

 8.4 Short-term interest rates

Related publications  RBA, Bulletin

 RBA, Financial Stability Review

 RBA, Statement on Monetary Policy

 Melbourne Institute, Monthly Bulletin of Economic Trends

Monthly statistical bulletin

27

5.3 Lending for housing

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Value of finance commitments for owner-occupied housing: % change (a) (b) (c)

July 0.6 -0.6 -0.2 3.0 -0.7

August 0.4 1.2 0.1 2.9 -0.9

September 0.2 1.2 0.4 2.3

October 0.2 1.1 0.7 1.4

November 0.5 1.0 1.1 0.3

December 0.9 0.8 1.4 -0.6

January 1.3 1.7 1.6 -1.0

February 1.8 0.5 1.6 -0.9

March 2.0 0.5 1.6 -0.6

April 1.8 0.4 1.8 -0.5

May 1.4 0.2 2.2 -0.5

June 1.1 0.0 2.6 -0.6

Value of finance commitments for investment housing: % change (a) (b) (c)

July 0.7 4.6 2.3 -4.1 1.3

August 1.2 5.1 2.8 -4.8 1.0

September 1.7 4.8 2.8 -4.6

October 2.2 3.9 2.3 -3.4

November 2.5 2.8 1.8 -2.0

December 2.7 1.8 1.5 -0.9

January 2.5 1.0 1.3 0.0

February 2.1 0.5 1.2 0.6

March 1.9 0.4 0.8 0.9

April 2.0 0.6 -0.1 1.1

May 2.5 1.2 -1.4 1.3

June 3.5 1.7 -2.9 1.4

(a) Includes re-financing. (b) Using the trend series. (c) % change from previous month.

Update

Source: ABS, Housing finance , cat. no. 5609.0 10 November 2016

- 6

- 4

- 2

0

2

4

6

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Owner-occupied

Investment

% change What is measured?

The ABS housing finance publication measures the number and value of finance commitments made by Australian lenders for housing purposes. The lending figures relate to persons looking to buy or build homes to live in (owner occupiers), as well as those seeking to buy or build homes for investment purposes.

This data relates to the value of finance commitments for owner occupied housing and investment

housing. It is not possible to exclude the value of re-financing from investment housing. As such, it has been included in all of the data.

Related statistics in this bulletin  3.4 Household debt and household saving ratios

 4.3 Dwelling approvals

 5.2 Housing and cash interest rates

 5.4 Home loan affordability

Related publications  ABS, Lending Finance, cat. no. 5671.0

Monthly statistical bulletin

28

5.4 Home loan affordability

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Average size of new loans for owner occupied houses (a) - $

September 300 100 301 500 325 200 376 000

December 306 700 317 700 334 600 373 300

March 300 600 321 600 333 500 354 400

June 303 300 328 000 347 800 360 100

Annual average (b) 301 817 313 217 332 667 364 908

Loan repayments as a proportion of family income - per cent

September 33.3 29.8 30.4 31.7

December 32.6 30.8 31.5 32.4

March 32.1 30.6 30.8 30.0

June 31.0 30.9 30.3 29.4

Quarterly median house prices (capital cities - Australia) - $

September 516 919 565 828 620 682 698 863

December 528 818 594 632 647 768 693 645

March 537 726 605 411 657 890 683 796

June 546 941 617 633 683 985 698 215

(b) Monthly average ending June.

Sources: Real Estate Institute of Australia and Adelaide Bank 'Housing Affordability Report Real Estate Institute of Australia and Adelaide Bank 'Real Estate Market Facts' ABS, Housing Finance , cat. no. 5609.0

Update 10 November 2016 (cat. no. 5609.0) December 2016 (REIA reports)

(a) Includes the construction and purchase of new dwellings, and the purchase of established dwellings (including refinancing). Excludes alterations and additions.

25.0

27.5

30.0

32.5

35.0

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Loan repayments as a proportion of family income What is measured?

The ABS’ Housing Finance publication measures the number and value of finance commitments made by Australian lenders for housing. The loan size figures contained in this bulletin are for people buying or building homes to live in (owner occupiers).

The Real Estate Institute of Australia /Adelaide Bank Housing Affordability Report provides data on number of loans, loan repayments and family income by State/Territory and in Australia. This bulletin shows loan repayments as a proportion of family income. The Real Estate Institute of Australia/Adelaide Bank also publish a Real Estate Market Facts publication, from which the median house prices are derived. Quarterly median house prices have only been included in this bulletin in 2016.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings

 3.4 Household debt and household saving ratios

 5.2 Housing and cash interest rates

 5.3 Lending for housing

Related publications  ABS, Lending Finance, cat. no. 5671.0

 Housing Industry Association- Commonwealth Bank, Affordability Report

Monthly statistical bulletin

29

5.5 Stock exchange indexes

Month 2012-13 2013-14 2014-15 2015-16 2016-17

All ordinaries index (a)

July 4 289.4 5 035.7 5 623.1 5681.7 5644

August 4 339.0 5 125.3 5 624.6 5222.1 5529.4

September 4 406.3 5 217.7 5 296.8 5058.6 5525.2

October 4 535.4 5 420.3 5 505.0 5288.6

November 4 518.0 5 314.3 5 298.1 5218.2

December 4 664.6 5 353.1 5 388.6 5344.6

January 4 901.0 5 205.1 5 551.6 5056.6

February 5 120.4 5 415.4 5 898.5 4947.9

March 4 979.9 5 403.0 5 861.9 5151.8

April 5 168.6 5 470.8 5 773.7 5316

May 4 914.0 5 473.8 5 774.9 5447.8

June 4 775.4 5 382.0 5 451.2 5310.4

S&P/ASX 200 index (b)

July 4 269.2 5 052.0 5 623.9 5 699.2 5 562.4

August 4 316.1 5 135.0 5 625.9 5 207.0 5 433.0

September 4 387.0 5 218.9 5 292.8 5 021.6 5 435.9

October 4 517.0 5 425.5 5 526.6 5 239.4

November 4 506.0 5 320.0 5 313.0 5 188.6

December 4 648.9 5 352.2 5 411.0 5 295.9

January 4 878.8 5 190.0 5 588.3 5 005.5

February 5 104.0 5 404.8 5 928.8 4 880.9

March 4 966.5 5 394.8 5 891.5 5 082.8

April 5 191.2 5 489.1 5 790.0 5 252.2

May 4 926.6 5 492.5 5 777.2 5 378.6

June 4 802.6 5 395.7 5 459.0 5 233.4

(a) Index at the end of the month. Base: January 1980 = 500.0. (b) Index at the end of the month. Base: March 2000 = 3 133.3.

Source: Australian Stock Exchange, Market Statistics, Historical Market Statistics.

Update

1 November 2016

4 000

4 500

5 000

5 500

6 000

6 500

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

All ordinaries index What is measured?

The purpose of these measures is to provide a broad picture of the performance of the Australian corporate sector. The corporate sector is characterised by larger businesses capable of listing on the Australian Stock Exchange (ASX).

The All Ordinaries index is a weighted index of the share prices of the largest 500 companies listed on the ASX.

The S&P/ASX 200 index comprises 200 stocks of larger companies listed on the ASX. The All Ordinaries is typically the benchmark for the performance of ‘the share market’, whereas the S&P/ASX 200 is indicative of the performance of investment grade, highly liquid, shares on the ASX.

Related statistics in this bulletin  3.1 Gross domestic product

 3.4 Household debt and household saving ratios

 4.4 Business investment

 5.1 Business interest rates

Related publications  Australian Securities Exchange, Indices, Types, Capitalisation indices

Monthly statistical bulletin

30

6.1 International trade in goods and services

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Exports of goods and services (a) - $ million

July 25 397 26 422 26 838 26 527 26 846

August 24 486 27 343 26 263 26 317 26 856

September 24 132 27 259 26 037 27 527

October 24 545 27 232 26 759 26 306

November 24 614 27 225 26 917 26 219

December 24 649 28 323 27 071 24 916

January 24 488 29 217 27 281 25 027

February 25 080 29 256 27 629 25 037

March 25 668 28 503 26 936 25 962

April 25 672 27 997 25 222 26 182

May 26 706 26 393 25 398 26 226

June 26 388 26 303 25 968 25 795

Annual 302 276 331 241 318 653 311856

Imports of goods and services (a) - $ million

July 27 221 27 919 27 938 29 466 28 967

August 26 580 28 317 27 421 29 375 28 866

September 26 273 27 780 28 336 30 213

October 26 794 27 750 27 923 30 133

November 27 632 27 572 28 119 29 465

December 26 181 28 007 27 856 29 058

January 26 208 28 142 28 611 28 371

February 26 098 27 624 29 068 28 053

March 26 132 27 790 28 914 28 173

April 26 490 28 401 29 121 27 834

May 27 285 28 192 29 035 28 430

June 26 690 27 820 29 910 28 978

Annual 321 032 339 062 341 623 348754

(a) Balance of payments definition. Monthly figures are seasonally adjusted.

Source: ABS, International trade in goods and services , cat. no. 5368.0 Update

December 2016

15 000

20 000

25 000

30 000

35 000

Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17

$ million

Exports Imports

What is measured? International merchandise trade statistics measure Australia’s exports and imports of goods and services on a recorded trade basis.

Adjustments for coverage, timing and valuation are applied to recorded trade data to convert them to a balance of payments basis. These are the data reported in this bulletin.

Goods include all movable goods (merchandise) which change ownership between Australian residents and non-residents whether or not they actually cross customs frontier.

The services component covers services rendered by Australian residents to non-residents and by non-residents to residents (eg travel, transportation, insurance).

The ABS publishes these statistics in original, seasonally adjusted and trend terms.

Related statistics in this bulletin  3.1 Gross domestic product

 6.2 Balance on current account

 6.3 Terms of trade

 6.4 Exchange rates

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin

 Treasury, Budget papers

 OECD, Economic outlook

 NAB, Australian outlook and research

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

31

6.2 Balance on current account

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Value (a) - $ million

September -9 130 -15 886 -14 453 -12 747 -19 725

December -10 739 -17 317 -12 348 -11 003 -22 428

March -16 954 -12 847 -9 472 -13 730 -14 899

June -13 565 -12 772 -13 979 -21 153 -15 535

Proportion of gross domestic product (a) - per cent

September -2.5 -4.2 -3.7 -3.2 -4.8

December -2.9 -4.6 -3.1 -2.7 -5.5

March -4.6 -3.4 -2.4 -3.4 -3.6

June -3.6 -3.3 -3.5 -5.2 -3.7

Value - 12 months ending quarter shown - $ million

September -43 560 -56 484 -57 753 -49 177 -65 983

December -42 817 -63 579 -52 478 -47 840 -77 437

March -46 406 -59 518 -49 458 -51 705 -78 244

June -49 462 -58 435 -51 008 -58 208 -72 828

Proportion of gross domestic product - 12 months ending quarter shown - per cent

September -3.0 -3.8 -3.8 -3.1 -4.1

December -2.9 -4.2 -3.4 -3.0 -4.8

March -3.1 -3.9 -3.1 -3.2 -4.8

June -3.3 -3.8 -3.2 -3.6 -4.4

(a) Seasonally adjusted.

Source: ABS, Balance of payments and international investment position , cat. no. 5302.0 ABS, Australian national accounts: national income, expenditure and product , cat. no. 5206.0

December 2016

-25 000

-20 000

-15 000

-10 000

-5 000

0

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Quarterly value - $ million What is measured?

The Australian current account, part of the ABS balance of payments statistics, measures receipts and payments between Australia and the rest of the world as a result of transactions in goods, services, income and transfers.

The goods and services components are exports and imports; the income is earnings from factors of production, i.e. compensation of employees and investment income; and transfers are where there is no resulting exchange, e.g. gifts, taxes and grants.

The difference between the receipts and payments gives the current account balance. When receipts are less than payments—the usual Australian position—then there is a negative balance on current account or a deficit. A positive balance is a surplus.

Related statistics in this bulletin  6.1 International trade in goods and services

 6.3 Terms of trade

 6.4 Exchange rates

 6.5 Foreign debt

Related publications  RBA, Bulletin

 Treasury, Budget papers

 Treasury, Mid-year economic and fiscal outlook

 OECD, Economic outlook

Monthly statistical bulletin

32

6.3 Terms of trade

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Implicit price deflator for exports of goods and services (a) (b) - index

September 112.1 96.8 101.0 91.9 87.3

December 109.1 95.7 101.6 92.1 84.0

March 101.7 97.3 103.0 90.3 79.7

June 103.5 96.8 95.3 86.9 80.2

Annual average 107.0 96.6 100.0 90.3 82.9

Implicit price deflator for imports of goods and services (a) (b) - index

September 91.7 92.6 99.4 98.9 105.1

December 93.9 93.1 99.2 100.7 104.6

March 92.1 93.4 102.0 101.4 101.3

June 94.4 93.3 99.3 102.2 99.7

Annual average 93.1 93.0 100.0 100.7 103.0

Terms of trade (a) (b) (c) - index

September 122.2 104.5 101.6 92.9 83.0

December 116.3 102.7 102.5 91.5 80.3

March 110.4 104.1 100.9 89.1 78.6

June 109.6 103.7 96.0 85.1 80.5

Annual average 114.9 103.8 100.0 89.7 80.5

(a) Quarterly figures are seasonally adjusted.

(c) Index of the ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services

Source: ABS, Balance of payments and international investment position , cat. no. 5302.0

Update

(b) Reference Year =2013-14

December 2016

75

90

105

120

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Terms of trade - index

What is measured? The terms of trade index is calculated by dividing the IPD for exports of goods and services by the IPD for imports of goods and services, with the result being multiplied by 100.

An IPD is calculated by dividing a current price series by the corresponding chain volume measures series.

A rise in the terms of trade index implies a country can purchase more imports from the same amount of exports.

Related statistics in this bulletin  6.1 International trade in goods and services

 6.2 Balance on current account

 6.4 Exchange rates

 6.5 Foreign debt

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin

 Treasury, Budget papers

 OECD, Economic outlook

 NAB, Australian outlook and research

 Access Economics, Business outlook

Monthly statistical bulletin

33

6.4 Exchange rates

Month 2012-13 2013-14 2014-15 2015-16 2016-17

United States dollar (a) - cents

July 105.26 90.37 93.24 72.94 75.22

August 103.10 89.47 93.49 71.49 75.14

September 104.64 93.09 87.52 70.10 76.30

October 103.78 94.90 88.05 70.99

November 104.31 90.87 84.91 71.89

December 103.84 89.48 82.02 73.06

January 103.94 87.63 77.81 71.00

February 102.75 89.47 77.92 71.40

March 104.26 92.21 76.34 76.57

April 103.68 92.87 79.81 76.55

May 96.49 93.19 76.63 72.42

June 92.75 94.20 76.80 74.26

Trade weighted index (b) - index

July 78.90 69.40 71.50 61.40 63.30

August 77.00 69.20 71.90 60.90 63.20

September 76.90 71.20 68.90 59.90 63.90

October 76.50 72.10 69.40 60.30

November 77.20 69.80 68.20 61.80

December 77.10 68.90 66.50 62.70

January 77.70 67.70 63.90 61.50

February 77.40 68.90 64.10 61.40

March 79.10 71.00 63.30 64.40

April 78.40 71.40 65.30 63.80

May 74.00 71.50 63.70 61.70

June 71.40 72.00 63.80 62.50

(a) US cents per $Aus. Rate at end of month. (b) At end of month. Base: May 1970 = 100.0.

Source: RBA, Economic and Financial Statistics

Update November 2016

50

60

70

80

90

100

110

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

US cents/Index

Trade weighted index

US cents per $Aus

What is measured? The exchange rate, also known as the foreign exchange rate, is the price of one currency expressed in terms of another currency.

Any exchange rate can be quoted two ways, e.g. Australian dollars per one US dollar or US dollars per one Australian dollar. The convention for the Australian dollar is that it is quoted as the foreign currency price per Australian dollar.

The trade weighted index (TWI) is the weighted average value of the Australian dollar in terms of the currencies of Australia’s 22 main trading partners. The base value was set at 100 in May 1970.

Related statistics in this bulletin  6.1 International trade in goods and services

 6.2 Current account balance

 6.3 Terms of trade

 6.5 Foreign debt

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin

 Treasury, Budget papers

 OECD, Economic outlook

 NAB, Australian outlook and research

 Access Economics, Business outlook

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

34

6.5 Foreign debt

Quarter (a) 2011-12 2012-13 2013-14 2014-15 2015-16

Gross foreign debt, public sector - $ million

September 264 870 302 970 297 604 336 540 377 669

December 283 220 299 331 309 948 352 152 369 901

March 292 761 298 706 319 658 370 915 377 985

June 302 330 295 099 328 565 357 382 380 885

Gross foreign debt, private sector - $ million

September 1 145 860 1 149 470 1 288 627 1 460 132 1 770 723

December 1 093 024 1 172 850 1 376 340 1 549 865 1 736 011

March 1 101 455 1 170 882 1 358 939 1 665 618 1 746 165

June 1 138 139 1 281 270 1 390 961 1 640 487 1 808 600

Gross foreign debt, total - $ million

September 1 410 730 1 452 440 1 586 231 1 796 672 2 148 393

December 1 376 244 1 472 181 1 686 288 1 902 017 2 105 912

March 1 394 216 1 469 588 1 678 598 2 036 533 2 124 149

June 1 440 469 1 576 370 1 719 527 1 997 869 2 189 485

Net foreign debt - $ million

September 725 462 752 660 830 031 902 617 1 000 308

December 718 259 764 341 869 746 941 029 1 017 610

March 729 201 772 221 868 051 974 125 1 021 818

June 750 435 813 217 887 914 969 514 1 044 505

Net foreign debt - percentage of gross domestic product (b)

September 50.5 50.3 54.0 56.6 61.7

December 49.3 50.8 55.9 58.8 62.5

March 49.4 51.0 55.2 60.7 62.5

June 50.3 53.3 56.0 60.2 63.3

(a) At end of period. (b) Net foreign debt at the end of the period as a proportion of gross domestic product for four quarters up to that period.

Sources: Update

ABS, Balance of payments and international investment position , Cat. no. 5302.0 December 2016 ABS, Australian national accounts: national income, expenditure and product, Cat. no. 5206.0

40

45

50

55

60

65

70

Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16

Net foreign debt - percentage of GDP

What is measured? Gross foreign debt measures all non-equity financial claims by non-residents on residents of Australia. The major component of gross foreign debt is the amount of borrowings from non-residents by residents of Australia. Net foreign debt is gross foreign debt less non-equity assets, such as foreign reserves held by the Reserve Bank, and lending by residents of Australia to non-residents. Net and gross foreign debt are measured at the end of each quarter.

Related statistics in this bulletin  6.1 International trade in goods and services

 6.2 Balance on current account  6.3 Terms of trade

 6.4 Exchange rates

Related publications  RBA, Bulletin  Treasury, Budget papers

 OECD, Economic outlook  NAB, Australian outlook and research  Access Economics, Business

outlook

Monthly statistical bulletin

35

7.1 Population

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Estimated resident population (a) - '000

September 22 432.0 22 827.8 23 208.9 23 546.1 23 872.6

December 22 520.3 22 920.8 23 285.7 23 621.1 23 943.9

March 22 637.1 23 033.9 23 392.3 23 723.8 24 051.4

June 22 728.3 23 117.4 23 460.7 23 789.8

Annual change - '000

September 327.6 395.8 381.1 337.2 326.5

December 347.8 400.5 364.9 335.4 322.8

March 368.3 396.8 358.4 331.5 327.6

June 388.3 389.1 343.3 329.1

Annual change - per cent

September 1.48 1.76 1.67 1.45 1.39

December 1.57 1.78 1.59 1.44 1.37

March 1.65 1.75 1.56 1.42 1.38

June 1.74 1.71 1.49 1.40

(a) At the end of the quarter.

Source: ABS, Australian demographic statistics , cat. no. 3101.0

Update

15 December 2016

1.0

1.2

1.4

1.6

1.8

2.0

Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Annual change - per cent

What is measured? Known as the estimated resident population (ERP), the estimates include births, deaths and overseas and interstate migration for each of the states and territories plus external territories of Australia. When ERP data is first released it is preliminary estimates. As further data on overseas arrivals and departures becomes available the estimates are revised—this usually happens after a year. Revised population data becomes final only after each Census. The ABS also publishes data by age groups, major population regions and experimental estimates and projections of the Aboriginal and Torres Strait Islander population. Projection estimates are also available for resident populations, number of households and average household size.

Related statistics in this bulletin  7.2 Components of population change  7.3 Overseas arrivals—visitors and

settlers

Related publications  ABS, Australian historical population statistics, cat. no. 3105.0.65.001

 ABS, Population projections, cat. no. 3222.0  ABS, Population by age and sex, Regions of Australia, cat. no.

3235.0

Monthly statistical bulletin

36

7.2 Components of population change

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

Births - '000

September 76.2 78.7 76.9 82.0 76.2

December 74.2 77.9 75.7 67.5 74.6

March 78.1 77.4 77.5 72.0 78.0

June 77.5 77.1 76.9 82.5

Annual 306.0 311.1 307.0 304.0

Deaths - '000

September 39.6 42.2 39.7 44.1 41.7

December 36.1 35.4 37.0 36.0 39.8

March 34.1 34.2 34.9 36.9 36.6

June 37.5 37.3 38.5 38.1

Annual 147.3 149.1 150.1 155.1

Natural increase - '000

September 39.0 40.0 39.8 38.4 34.5

December 36.6 36.5 37.2 37.9 34.8

March 38.2 42.5 38.7 31.5 41.5

June 44.1 43.2 42.7 35.1

Annual 157.9 162.2 158.4 142.9

Net overseas migration (a) - '000

September 55.4 63.0 54.4 49.5 48.3

December 50.1 50.5 38.1 34.6 36.4

March 72.8 70.0 63.9 62.3 66.0

June 51.2 43.7 30.0 30.0

Annual 229.5 227.2 186.4 176.4

(a) From September 2006 the ABS introduced an improved methodology for estimating

net overseas migration. These data are not comparable with earlier data.

Update

Source: ABS, Australian demographic statistics , cat. no. 3101.0 15 December 2016

15

30

45

60

75

90

Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Persons '000

Births Natural increase Net overseas migration

What is measured? The latest several quarters of data are preliminary and accumulations or lags in the reporting process mean they can be an underestimate or an overestimate of the true number.

Natural increase is calculated by subtracting the estimated number of deaths from births. Net overseas migration is the difference between permanent and long-term arrivals, and permanent and long-term departures.

The ABS has developed an improved methodology for calculating net overseas migration from September quarter 2006 onwards. The methodology better captures the change in the characteristics of international travellers (e.g. the increasing numbers of overseas students and temporary long-term business migrants) but makes the data inconsistent with earlier figures.

Related statistics in this bulletin  7.1 Population

 7.3 Overseas arrivals—visitors and settlers

Related publications  ABS, Migration, cat. no. 3412.0

 ABS, Births, cat. no. 3301.0

 ABS, Deaths, cat. no. 3302.0

 Department of Immigration and Citizenship (DIAC), Population flows

 DIAC, Immigration update

Monthly statistical bulletin

37

7.3 Overseas arrivals—visitors and settlers

Month 2012-13 2013-14 2014-15 2015-16 2015-16

Visitors (a) (b) - '000

July 502.6 530.4 578.2 617.6 693.0

August 506.5 535.6 580.2 623.5 696.7

September 510.3 540.8 581.9 631.2

October 513.2 546.0 584.1 638.7

November 514.5 550.5 587.6 645.2

December 514.1 555.0 591.9 650.5

January 512.9 559.9 596.5 655.5

February 511.7 564.6 601.3 661.3

March 511.9 568.8 605.5 668.1

April 514.3 571.8 608.8 675.3

May 518.9 573.9 611.5 682.3

June 524.7 575.9 613.9 688.3

Annual 6 155.6 6 673.2 7 141.4 7 837.5

Settlers (c) - '000

July 11.7 11.8 9.6 9.3 10.4

August 13.2 13.5 11.8 11.7 13.3

September 12.5 12.2 10.5 10.1

October 11.9 12.1 10.2 9.4

November 11.6 11.4 10.3 9.6

December 12.9 11.9 11.8 10.4

January 12.4 11.6 11.2 10.0

February 12.7 11.7 12.0 10.8

March 14.1 11.7 13.2 12.1

April 12.6 10.8 11.6 11.2

May 13.2 11.6 11.9 11.6

June 13.6 10.4 10.5 10.8

Annual 152.4 140.6 134.5 126.9

(a) Monthly figures are trend figures. (b) Visitors are overseas visitors whose intended stay in Australia is less than 12 months.

Source: ABS, Overseas arrivals and departures , cat. no. 3401.0

(c) Settlers are travellers who hold migrant visas, New Zealand citizens who indicate an intention to settle, and those who are otherwise eligible to settle. Update

10 November 2016

6

8

10

12

14

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Settlers '000

What is measured? The statistics in these tables, published by the Australian Bureau of Statistics (ABS), relate to the number of movements of visitors and settlers rather than the number of visitors and settlers (i.e. multiple movements of individual persons during a given period are each counted separately).

Settlers’ data cover persons whose purpose on arriving in Australia is to permanently settle. Those people who apply for and are granted residency from within Australia (onshore grants) are not included.

Complete immigration data can be sourced from the Department of Immigration and Border Protection (DIBP). Data on persons departing Australia as well as a range of other characteristics of travellers, such as age, sex and country of birth, are also available from the ABS, DIBP and Tourism Research Australia.

In January 2014, estimates were revised back to July 2004 due to improved methodology used in the Overseas Arrivals and Departures system. For further information, see http://www.abs.gov.au/ausstats/abs @.nsf/Lookup/3401.0main+features2 Jan%202014

Related statistics in this bulletin  7.1 Population

 7.2 Components of population change

Related publications  ABS, Australian demographic statistics, cat. no. 3101.0

 ABS, Migration, cat. no. 3412.0

 Department of Immigration and Citizenship (DIAC), Population flows

 DIAC, Immigration update

 Tourism Research Australia, International visitor survey

Monthly statistical bulletin

38

7.4 Health—bulk billing and private health insurance

Quarter 2011-12 2012-13 2013-14 2014-15 2015-16

General practice bulk billing rate - per cent (a)

September 80.7 81.7 82.8 84.0 84.6

December 80.9 82.0 83.1 84.2 84.9

March 81.2 82.4 83.6 84.0 85.1

June 82.0 82.8 84.1 85.1 85.9

Annual 81.2 82.2 83.4 83.4 85.1

Private health insurance hospital coverage rate - per cent

September 46.2 46.7 47.0 47.2 47.4

December 46.2 46.7 47.0 47.2 47.2

March 46.2 46.7 47.0 47.4 47.2

June 46.6 46.9 47.2 47.4 47.0

(a) Out of hospital services only

Sources:

Department of Health, Medicare statistics online

Australian Prudential Regulation Authority (APRA), Private Health Insurance statistics

Update

late Novmeber 2016 for bulk billing data

15 November 2016 for health insurance data

42

43

44

45

46

47

48

49

78

80

82

84

86

Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16

Per cent Per cent

GP bulk billing rate (left axis) PHI Hospital Coverage - Aust (right axis)

What is measured? The general practice (GP) bulk billing rate is the percentage of all non-referred GP attendances (excluding practice nurse items) that are bulk billed. Bulk billing is a payment option under Medicare where the health service provider is paid 85 per cent of the scheduled fee directly by the government. The patient does not incur any out-of-pocket payment for a bulk billed service.

A range of other Medicare data is available online from the Department of Health and Ageing, such as bulk billing rates for other medical services and the average patient contribution per service.

The private health insurance hospital coverage rate is the proportion of the population who have hospital cover private health insurance. People with hospital cover are eligible for the Private Health Insurance Rebate (also known as the Federal Government 30 per cent Rebate) and do not have to pay the Medicare Levy Surcharge (payable by people earning above a certain income who do not have hospital cover).

Other data available includes the amount of benefits paid; state level data is also available.

Related publications  Private Health Insurance Administration Council, Operations of the private health insurers:

annual report

Monthly statistical bulletin

39

8.1 Economic growth

S

Quarters (a) (b)

Annual average (c) (d)

Country 2012 2013 2014 2015 Sep Dec Mar Jun

Australia 3.6 2.0 2.7 2.5 2.6 2.8 3.0 3.3

Brazil 1.9 3.0 0.1 -3.8 -4.5 -5.9 -5.4 -3.8

Canada 1.7 2.2 2.5 1.1 1.0 0.3 1.2 0.9

China 7.7 7.7 7.3 6.9 6.9 6.8 6.7 6.7

France 0.2 0.6 0.6 1.3 1.1 1.3 1.4 1.4

Germany 0.4 0.3 1.6 1.7 1.7 1.3 1.8 1.7

Indonesia 6.0 5.6 5.0 4.8 7.4 7.5 7.9 7.1

India 4.9 6.3 7.0 7.3 4.8 4.9 5.0 5.1

Italy -2.8 -1.7 -0.3 0.8 0.8 1.1 1.0 0.8

Japan 1.7 1.4 0.0 0.5 1.8 0.8 0.1 0.8

Korea 2.3 2.9 3.3 2.6 2.8 3.1 2.8 3.2

New Zealand 2.6 2.4 3.7 2.5 2.3 2.3 3.0 3.6

Russia 3.5 1.3 0.7 -3.7 -3.7

South Africa 2.2 2.2 1.5 1.3 1.1 0.2 -0.6 0.7

United Kingdom 1.3 1.9 3.1 2.2 2.0 1.8 2.0 2.2

United States 2.2 1.5 2.4 2.4 2.2 1.9 1.6 1.2

G7 average 1.4 1.1 1.7 1.8 1.9 1.5 1.4 1.3

EU average -0.5 0.2 1.4 2.0 2.1 2.1 1.9 1.8

OECD Average 1.3 1.2 1.9 2.2 2.2 2.0 1.7 1.6

(b) Seasonally adjusted, except for China.

(c) Percentage change in gross domestic product at constant prices over previous year.

(d) Years shown are calendar years. Source: IMF WEO

.. Not available

Source: OECD

Update

December 2016

(a) Percentage change in gross domestic product at constant prices over

corresponding quarter in previous year. Source: OECD iLibrary

2015 2016

-2

0

2

4

6

Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16

Per cent

Australia EU average OECD Average

What is measured? Economic growth is measured using estimates of the gross domestic product (GDP) of an economy. GDP is equal to an economy’s total output of goods and services less inputs, used in the production of those goods services, but before allowing for depreciation.

GDP statistics are published in current prices and constant prices, i.e. adjusted for the effects of inflation. It is the GDP at constant prices data that is used to show economic growth. This is also known as real growth.

The data shown here is from estimates of GDP compiled following international standards.

Related statistics in this bulletin  3.1 Gross domestic product

 3.2 Non-farm gross domestic product

 8.2 Consumer prices

 8.3 Unemployment rates

 8.4 Short-term interest rates

Related publications  OECD, Economic outlook

 IMF, International financial statistics

 IMF, World economic outlook

Monthly statistical bulletin

40

8.2 Consumer prices

Months (a)

Annually (a) (b) 2016

Country 2012 2013 2014 2015 May Jun Jul Aug

Australia (c) 1.8 2.4 2.5 1.5 1.0

Brazil 5.4 6.2 6.3 9.0 9.3 8.8 8.7 9.0

Canada 1.5 0.9 1.9 1.1 1.5 1.5 1.3 1.1

China 2.6 2.6 2.0 1.4 2.0 1.9 1.8 1.3

France 2.0 0.9 0.5 0.0 0.0 0.2 0.2 0.2

Germany 2.0 1.5 0.9 0.2 0.1 0.3 0.4 0.4

Indonesia 4.3 6.4 6.4 6.4 6.6 6.1 6.5 5.3

India 9.3 10.9 6.4 5.9 3.3 3.5 3.2 2.8

Italy 3.0 1.2 0.2 0.0 -0.3 -0.4 -0.1 -0.1

Japan 0.0 0.4 2.7 0.8 -0.5 -0.4 -0.4 -0.5

Korea 2.2 1.3 1.3 0.7 0.8 0.8 0.7 0.4

New Zealand (c) 1.1 1.1 1.2 0.3 0.4

Russian Federation 5.1 6.8 7.8 15.5 7.3 7.5 7.2 6.9

South Africa 5.7 5.8 6.1 4.5 6.5 6.5 6.5 6.3

United Kingdom 2.8 2.6 1.5 0.0 0.3 0.5 0.6 0.6

United States 2.1 1.5 1.6 0.1 1.0 1.0 0.8 1.1

G7 1.9 1.3 1.6 0.2 0.6 0.6 0.5 0.7

OECD - Europe 2.9 1.9 1.2 0.6 0.5 0.7 0.9 0.9

OECD - Total 2.2 1.6 1.7 0.6 0.8 0.9 0.8 0.9

(a) Percentage change in consumer price indexes over previous year. (b) Years shown are calendar years. (c) Data only available quarterly.

Source: OECD iLibrary

Update

November 2016

0

1

2

3

4

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Per cent

OECD - Europe OECD - Total Australia

What is measured? A consumer price index (CPI) is used to measure price inflation for households. The goods and services purchased by households are combined into a basket that reflects their consumption patterns. From time to time the basket is reviewed to take into account changes in consumption patterns. The data in this bulletin shows the changes in the overall prices of baskets of goods and services in the various countries. Most countries conduct surveys on a monthly basis, however Australia and New Zealand conduct quarterly surveys.

Related statistics in this bulletin  2.4 Consumer price index  8.1 Economic growth  8.3 Unemployment rates  8.4 Short term interest rates

Related publications  OECD, Economic outlook  IMF, International financial statistics

Monthly statistical bulletin

41

8.3 Unemployment rates

Months (a)

Annual average (a) (b) 2016

Country 2012 2013 2014 2015 May Jun Jul Aug

Australia 5.2 5.7 6.1 6.1 5.7 5.8 5.7 5.6 OECD

Canada 7.3 7.1 6.9 6.9 6.9 6.8 6.9 7.0

France 9.8 10.3 10.3 10.4 9.9 10.1 10.3 10.5

Germany 5.4 5.2 5.0 4.6 4.3 4.3 4.2 4.2

Italy 10.6 12.1 12.7 11.9 11.4 11.6 11.4 11.4

Japan 4.4 4.0 3.6 3.4 3.2 3.1 3.0 3.1

Korea 3.2 3.1 3.5 3.6 3.7 3.6 3.6 3.8

New Zealand (c) 6.9 6.2 5.8 5.8 5.1

United Kingdom 7.9 7.6 6.2 5.3 4.9 4.8

United States 8.1 7.4 6.2 5.3 4.7 4.9 4.9 4.9

EU Average 10.5 10.9 10.2 9.4 8.6 8.6 8.6 8.6

G7 Average 7.4 7.1 6.4 5.8 5.4 5.5 5.4 5.5

OECD Average 8.0 7.9 7.4 6.8 6.3 6.3 6.3 6.3

(a) Unemployment as a percentage of labour force. (b) Years shown are calendar years. (c) Data only available quarterly. (d) Monthly data seasonally adjusted

Note: Unemployment rates shown above have been adjusted as necessary by the OECD to conform to international definitions and to ensure consistency over time.

Source: OECD.Stat

Update

November 2016

3

4

5

6

7

8

9

10

11

12

Jul-2013 Jul-2014 Jul-2015 Jul-2016 Jul-2017

Per cent

Australia

OECD Average

EU Average

What is measured? The unemployment rate records the number of persons aged 15 and over who are not employed and who have been actively looking for work as a proportion of the labour force. The labour force consists of those persons in employment and those persons who are unemployed.

The data are drawn from monthly labour force surveys in all the countries presented, except for New Zealand, where the survey is conducted on a quarterly basis.

For comparative purposes the OECD standardises national data using international conventions.

Related statistics in this bulletin  1.3 Labour Force

 8.1 Economic growth

 8.2 Consumer prices

 8.4 Short-term interest rates

Related publications  OECD, Economic outlook

 OECD, Main economic indicators

 IMF, International financial statistics

Monthly statistical bulletin

42

8.4 Long-term interest rates

2015 2016

Country 2012 2013 2014 2015 Q2 Q3 Q4 Q1

Australia 3.4 3.7 3.7 2.7 2.5 2.8 2.8 2.8

Canada 1.9 2.3 2.2 1.5 1.4 1.6 1.5 1.5

China 3.5 3.8 4.2 3.4 3.5 3.5 3.4 3.0

Eurozone 3.9 3.0 2.0 1.2 1.0 1.3 1.4 1.2

France 2.5 2.2 1.7 0.8 0.6 0.8 1.1 0.9

Germany 1.6 1.6 1.2 0.5 0.4 0.5 0.7 0.6

India 8.3 8.1 8.6 7.8 7.7 7.8 7.8 7.7

Italy 5.5 4.3 2.9 1.7 1.5 1.8 1.9 1.6

Japan 0.9 0.7 0.6 0.4 0.3 0.4 0.4 0.3

United Kingdom 1.9 2.4 2.6 1.9 1.7 2.0 2.0 1.9

United States 1.8 2.4 2.5 2.1 2.0 2.2 2.2 2.2

(a) 10 year government bond. (b) Years shown are calendar years. (c) Quarterly average.

Source: Oxford Economics

Update

September 2016

Quarters (c)

Annual average (a) (b)

What is measured? The interest rates shown in this table are the average yield on 10-year Government bonds for the period indicated.

The movements in these long-term rates are a useful indicator of the financing costs faced by governments in raising new long-term government debt.

Related statistics in this bulletin  5.1 Business interest rates

 5.2 Housing and cash interest rates

 6.4 Exchange rates

 8.2 Consumer prices

Related publications  OECD, Economic outlook

 OECD, Main economic indicators

 IMF, International financial statistics

-6

-4

-2

0

2

4

6

Jan 12 Jan 13 Jan 14 Jan 15

Per cent

Australia Eurozone United States

Monthly statistical bulletin

43

Related publications—links

Links to the electronic version of related publications referred to in the bulletin are listed below:

ABS, Retail Trade, Australia, Cat. No. 8501.0

ABS, Australian labour market statistics, Cat. no. 6105.0

Melbourne Institute, Monthly bulletin of economic trends

ABS, Job vacancies, Cat. no. 6354.0

ABS, Employee earnings, benefits and trade union membership, Cat. no. 6310.0

ABS, Employee earnings and hours, Cat. no. 6306.0

ABS, Labour price index, Cat. no. 6345.0

ABS, Australian national accounts: national income, expenditure and product, Cat. no. 5206.0

ABS, Average weekly earnings, Cat. no. 6302.0

Melbourne Institute, Survey of consumer inflationary expectations

ABS, A guide to the consumer price index, Cat. no. 6440.0

ABS, Consumer price index: concepts, sources and methods, Cat. no. 6461.0

ABS, Consumer price index, Cat. no. 6401.0

RBA, Bulletin

Treasury, Budget papers

Treasury, Mid-year economic and fiscal outlook 2011-12

OECD, Economic outlook

NAB, Australian outlook and research

Deloitte Access Economics, Business outlook

Investment and Financial Services Association, Australia’s national savings revisited, August 2007

Westpac - Melbourne Institute, Survey of consumer sentiment

NAB, Monthly business survey

FCAI, Vehicle sales

ABS, Motor vehicle census, Cat. no. 9309.0

ABS, Survey of motor vehicle use, Cat. no. 9208.0

ABS, Engineering construction activity, Cat. no. 8762.0

ABS, Construction work done, Cat. no. 8755.0

ABS, Dwelling unit commencements, Cat. no. 8750.0

ABS, Building activity, Cat. no. 8752.0

Tony Kryger, ‘State economic and social indicators’, Research paper, no. 14, Parliamentary Library, 2007-08

RBA, ‘Domestic financial markets and conditions’, Statement on monetary policy

Adrian Makeham-Kirchner, ‘Home loan interest rates and repayments’, Background note, Parliamentary Library, 2007-08

RBA, Financial stability review

RBA, Statement on monetary policy

ABS, Lending finance, Cat. no. 5671.0

ABS, Assets and liabilities of Australian securitisers, Cat. no. 5232.0.55.001

RBA, ‘Loan approvals, repayments and housing credit growth’, Bulletin, July 2007

REIA and Deposit Power, Housing affordability report

HIA - Commonwealth Bank, Affordability report

Australian Securities Exchange, S&P/ASX index overviews

ABS, Australian historical population statistics, Cat. no. 3105.0.65.001

ABS, Population projections, Cat. no. 3222.0

ABS, Population by Age by Sex, Regions of Australia, Cat. no. 3235.0

ABS, Migration, Cat. no. 3412.0

ABS, Births, Cat. no. 3301.0

ABS, Deaths, Cat. no. 3302.0

Department of Immigration and Citizenship (DIAC), Population flows

DIAC, Immigration update

ABS, Australian demographic statistics, Cat. no. 3101.0

Tourism Research Australia, International visitor survey

Private Health Insurance Administration Council, Operations of the private health insurers: annual report

IMF, International financial statistics

IMF, World economic outlook

OECD, Main economic indicators

Monthly statistical bulletin

44

Glossary

average weekly earnings. Average gross (before tax) earnings of employees.

average weekly ordinary time earnings. Weekly earnings attributed to award, standard or agreed hours of work.

balance on current account. The difference between receipts and payments as the result of transactions in goods, services, income and current transfers between Australia and the rest of the world. A current account deficit means that total payments exceed total receipts, while a current account surplus means the reverse.

bankruptcies. Bankruptcies and Administration Orders under Parts IV and XI of the Bankruptcy Act.

business investment. Private gross fixed capital formation for machinery and equipment; non-dwelling construction; livestock; and intangible fixed assets.

cash market rate (interbank overnight). Weighted average of the interest rates at which banks have borrowed and lent exchange settlement funds during the day.

consumer price index. A measure of change in the price of a basket of goods and services from a base period. Changes in the consumer price index are the most commonly used measure of inflation.

employed persons. Persons aged 15 and over who, during a period of one week, worked for one hour or more for pay or worked for one hour or more without pay in a family business or on a family farm.

general practice bulk billing rate. The percentage of general practitioner attendances (excluding practice nurse) that are bulk billed.

gross domestic product. The total market value of goods and services produced after deducting the cost of goods and services used up in the process of production but before deducting for depreciation.

gross domestic product—chain volume measures. Also known as real GDP, this is a measure used to indicate change in the actual quantity of goods and services produced. Economic growth is defined as a situation in which real GDP is rising.

gross foreign debt. All non-equity financial claims by non-residents on residents of Australia. The major component of gross foreign debt is the amount of borrowings from non-residents by residents of Australia.

household debt ratio. The amount of household debt at the end of a quarter expressed as a proportion of annual household gross disposable income. Household debt is the sum of housing and other personal debt, including securitised debt. Debt excludes debt owed by unincorporated enterprises.

household debt servicing ratio. Interest payments on housing and other personal debt expressed as a proportion of household gross disposable income.

household gross disposable income. The amount of income that households have available for spending after deducting any taxes paid, interest payments and transfers overseas.

household net disposable income. Household gross disposable income less depreciation of household capital assets.

household saving ratio. The ratio of household income saved to household net disposable income.

housing loan interest rate. The variable rate quoted by banks for loans to owner-occupiers.

implicit price deflator for non-farm gross domestic product. A measure of price change that is derived (hence the term implicit) by dividing gross non-farm product at current prices by gross non-farm product at chain volume measures.

labour force. The employed plus the unemployed.

labour force participation rate. The number of persons in the labour force expressed as a percentage of the civilian population aged 15 years and over.

labour productivity. Gross domestic product (chain volume measures) per hour worked in the market sector.

long-term unemployed. Persons unemployed for a period of 52 weeks or more.

male total average weekly earnings. Weekly ordinary time earnings plus weekly overtime earnings of all male employees. This measure of earnings is used in the process of benchmarking age pensions.

market sector. All industries excluding those (five) industries whose outputs are not marketed. These excluded industries are: property and business services; government administration and defence; education; health and community services; and personal and other services.

Monthly statistical bulletin

45

natural increase. Excess of live births over deaths.

net foreign debt. Gross foreign debt less non-equity assets such as foreign reserves held by the Reserve Bank of Australia and lending by residents of Australia to non-residents.

net overseas migration. Net permanent and long-term overseas migration plus an adjustment for the net effect of ‘category jumping’.

non-farm gross domestic product. Gross domestic product less that part which derives from agricultural production and services to agriculture.

overseas visitors. Visitors from overseas who intend to stay in Australia for less than 12 months.

private health insurance hospital coverage rate. The percentage of the total population that has private health insurance hospital coverage.

profits share. Gross operating surplus (the excess of gross output over costs incurred in producing that output) of all financial and non-financial corporate trading enterprises as a percentage of total factor income.

real average weekly earnings. Average weekly earnings adjusted for inflation as measured by the consumer price index.

seasonally adjusted estimates. Estimates in which the element of variability due to seasonal influences has been removed. Seasonal influences are those recur regularly each a year.

settlers. Travellers who hold migrant visas, New Zealand citizens who indicate an intention to settle and those who are otherwise eligible to settle.

terms of trade. The relationship between the prices of exports and the prices of imports. The usual method of calculating the terms of trade is to divide the implicit price deflator for exports by the implicit price deflator for imports.

total factor income. Gross domestic product at market prices less the difference between taxes and subsidies, or the sum of compensation of employees, gross operating surplus and gross mixed income.

trade weighted index. A measure of the value of the Australian dollar against a basket of the foreign currencies of Australia’s major trading partners.

trimmed mean. Measures a weighted average of the middle 70 per cent of quarterly price changes in CPI classes reported by the ABS. In effect the 90 CPI classes which make up the CPI are ranked in terms of their quarterly percentage changes and the classes which account for the top and bottom 15 per cent of the distribution are excluded, or ‘trimmed’. This is one method of statistical manipulation of the consumer price survey results to exclude extreme price fluctuations from the CPI survey, in order to determine a trend rate of inflation.

turnover. Includes retail sales; wholesale sales; takings from repairs, meals and hiring of goods; commissions from agency activity; and net takings from gaming machines. From July 2000, turnover includes the Goods and Services Tax.

unemployed persons. Persons aged 15 and over who, during a period of one week, were not employed but had actively looked for work in the previous four weeks and were available to start work.

unemployment rate. The number of unemployed persons expressed as a percentage of the labour force.

wage price index. A measure of change in the price of labour (i.e. wages, salaries and overtime) unaffected by changes in the quality or quantity of work performed.

wages share. Compensation of employees (the total value of income from labour) as a percentage of total factor income.

weighted median. Measures the price change that is the median, or midpoint, price change of the distribution of price changes within the CPI survey. That is, all but the middle observation from the 90 classes within the CPI are excluded. This is one method of statistical manipulation of the consumer price survey results to exclude an array of volatile price fluctuations in order to determine a trend rate of inflation.

youth unemployment. Number of 15-19 year olds looking for full-time work.

youth unemployment rate. Number of 15-19 year olds looking for full-time work expressed as a percentage of the full-time labour force in the same age group.

Monthly statistical bulletin

46

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