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Monthly statistical bulletin



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ISSN 2203-5249

RESEARCH PAPER SERIES, 2018-19 18 JANUARY 2018

Monthly Statistical Bulletin—December 2018 to January 2019 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 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. These time series are updated throughout each month as new figures are released.

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.

General enquiries and comments Joanne Simon-Davies Director, Statistics and Mapping Section Telephone: (02) 6277 2486

For questions about data in the Bulletin, please contact:

Chapter 1 Labour Market Penny Vandenbroek (02) 6277 2488

Chapter 2 Wages and prices Geoff Gilfillan (02) 6277 5599

Chapter 3 National accounts Geoff Gilfillan (02) 6277 5599

Chapter 4 Business conditions Alicia Hall (02) 6277 2698

Chapter 5 Finance Alicia Hall (02) 6277 2698

Chapter 6 External transactions Greg O’Brien (02) 6277 2481

Chapter 7 Demographics Joanne Simon-Davies (02) 6277 2486

Chapter 8 International comparisons Greg O’Brien (02) 6277 2481

Monthly Statistical Bulletin—December 2018 to January 2019 ii

Key release dates 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.

January 2019 Monday 21 Lending Finance, Australia, November 2018, cat no. 5671.0

Thursday 24 Labour Force, Australia, December 2018, cat no. 6202.0

Wednesday 30 Consumer Price Index, Australia, December 2018, cat no. 6401.0

Thursday 31 International Trade Price Indexes, Australia, December 2018, cat no. 6457.0

February 2019 Friday 1 Producer Price Indexes, Australia, December 2018, cat no. 6427

Monday 4 Building Approvals, Australia, December 2018, cat no. 8731.0

Tuesday 5 International Trade in Goods and Services, Australia, December 2018, cat no. 5368.0 Retail Trade, Australia, December 2018, cat no. 8501.0 Monday 11 Building Approvals, Australia, December 2018 (Additional Information), cat no. 8731.0

Tuesday 12 Housing Finance, Australia, December 2018, cat no. 5609.0

Thursday 14 Lending Finance, Australia, December 2018, cat no. 5671.0

Wednesday 20 Wage Price Index, Australia, December 2018, cat no. 6345.0

Thursday 21 Labour Force, Australia, December 2018, cat no. 6202.0 Average Weekly Earnings, Australia, November 2018, cat 6302.0 Wednesday 27 Construction Work Done, Australia, Preliminary, December 2018, cat no. 8755.0

Thursday 28 Private New Capital Expenditure and Expected Expenditure, Australia, December 2018, cat no. 5625.0

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—December 2018 to January 2019 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 Underemployment .................................................................................................................................... 6

1.7 ANZ job advertisements ............................................................................................................................ 7

1.8 Jobseekers receiving allowances .............................................................................................................. 8

1.9 Industrial disputes ..................................................................................................................................... 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 2014-15 2015-16 2016-17 2017-18 2018-19

Number employed (a) - '000 July 11 544.5 11 761.5 11 980.0 12 270.6 12 574.9

August 11 548.0 11 787.8 11 985.4 12 304.7 12 604.8

September 11 554.1 11 817.7 11 990.1 12 337.1 12 635.8

October 11 564.5 11 848.2 11 996.4 12 368.7 12 666.0

November 11 579.3 11 877.6 12 005.8 12 399.1 12 694.8

December 11 598.3 11 902.6 12 020.4 12 427.0

January 11 621.0 11 921.0 12 042.8 12 450.5

February 11 646.2 11 934.6 12 072.6 12 469.3

March 11 671.9 11 945.2 12 108.8 12 485.7

April 11 695.9 11 955.5 12 150.2 12 502.4

May 11 717.9 11 965.4 12 192.7 12 522.4

June 11 739.0 11 973.6 12 233.3 12 547.1

Annual average 11 623.4 11 890.9 12 064.9 12 423.7

Employment to population ratio (a) - per cent July 60.8 61.0 61.2 61.6 62.1

August 60.7 61.1 61.1 61.7 62.1

September 60.7 61.2 61.0 61.7 62.2

October 60.7 61.2 61.0 61.8 62.3

November 60.7 61.3 61.0 61.9 62.3

December 60.7 61.4 60.9 62.0

January 60.7 61.4 60.9 62.0

February 60.8 61.3 61.0 62.0

March 60.8 61.3 61.1 62.0

April 60.9 61.3 61.2 62.0

May 60.9 61.2 61.3 62.0

June 61.0 61.2 61.5 62.0

Annual average 60.8 61.2 61.1 61.9

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 24 January 2019

60.5

61.0

61.5

62.0

62.5

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

 1.6 Underemployment

 7.1 Population

Related publications  Parliamentary Library, Employment statistics: a quick guide

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

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

2

1.2 Unemployment

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Number unemployed (a) - '000 July 750.6 761.4 716.7 721.9 708.1

August 761.6 760.1 717.2 718.7 700.3

September 770.1 756.2 718.7 717.4 693.0

October 774.8 749.8 722.6 717.2 687.4

November 776.0 741.7 728.8 718.2 684.4

December 774.4 733.3 735.3 720.6

January 770.7 726.6 739.5 723.3

February 766.2 722.2 740.7 725.0

March 762.3 719.8 739.0 725.0

April 760.4 718.9 735.4 723.1

May 760.2 718.1 731.0 719.6

June 761.0 717.3 726.3 714.6

Annual average 765.7 735.4 729.3 720.4

Unemployment rate (a) - per cent July 6.1 6.1 5.6 5.6 5.3

August 6.2 6.1 5.6 5.5 5.3

September 6.2 6.0 5.7 5.5 5.2

October 6.3 5.9 5.7 5.5 5.2

November 6.3 5.9 5.7 5.5 5.1

December 6.3 5.8 5.8 5.5

January 6.2 5.7 5.8 5.5

February 6.2 5.7 5.8 5.5

March 6.1 5.7 5.8 5.5

April 6.1 5.7 5.7 5.5

May 6.1 5.7 5.7 5.4

June 6.1 5.7 5.6 5.4

Annual average 6.2 5.8 5.7 5.5

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 24 January 2019

4.5

5.0

5.5

6.0

6.5

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 Underemployment

 1.7 ANZ job advertisements  1.8 Jobseekers receiving allowances

 8.3 Unemployment rates

Related publications  Parliamentary Library, Unemployment statistics: a quick guide

 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 2014-15 2015-16 2016-17 2017-18 2018-19

Labour force (a) - '000 July 12 295.1 12 522.9 12 696.7 12 992.4 13 283.0

August 12 309.6 12 547.9 12 702.6 13 023.4 13 305.2

September 12 324.2 12 573.8 12 708.8 13 054.4 13 328.7

October 12 339.3 12 598.0 12 719.0 13 085.9 13 353.4

November 12 355.3 12 619.3 12 734.6 13 117.3 13 379.2

December 12 372.6 12 636.0 12 755.6 13 147.5

January 12 391.7 12 647.6 12 782.3 13 173.7

February 12 412.4 12 656.8 12 813.3 13 194.2

March 12 434.1 12 665.0 12 847.8 13 210.7

April 12 456.3 12 674.4 12 885.6 13 225.5

May 12 478.1 12 683.5 12 923.7 13 241.9

June 12 500.1 12 690.9 12 959.7 13 261.6

Annual average 12 389.1 12 626.3 12 794.1 13 144.1

Participation rate (a) - per cent July 64.7 64.9 64.8 65.2 65.6

August 64.7 65.0 64.8 65.3 65.6

September 64.7 65.1 64.7 65.3 65.6

October 64.7 65.1 64.7 65.4 65.6

November 64.7 65.1 64.7 65.5 65.7

December 64.7 65.1 64.7 65.6

January 64.7 65.1 64.7 65.6

February 64.8 65.1 64.7 65.6

March 64.8 65.0 64.8 65.6

April 64.8 65.0 64.9 65.5

May 64.9 64.9 65.0 65.5

June 64.9 64.9 65.1 65.5

Annual average 64.8 65.0 64.8 65.5

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 24 January 2019

64.0

64.5

65.0

65.5

66.0

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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  1.6 Underemployment

 7.1 Population  7.2 Components of population change

Related publications  Parliamentary Library, Labour force statistics: a quick guide

 ABS, Participation, job search and mobility, cat. no. 6226.0  Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

4

1.4 Long-term unemployment

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Long-term unemployed (a) (b) - '000 July 166.9 177.3 168.4 167.1 174.1

August 168.9 175.2 169.7 166.8 172.3

September 171.0 173.2 171.0 167.0 170.2

October 173.0 171.3 172.2 167.8 167.9

November 175.0 169.6 173.1 169.1 165.8

December 176.8 168.2 173.7 170.7

January 178.4 167.1 173.6 172.4

February 179.8 166.3 173.1 174.1

March 180.6 165.9 172.1 175.3

April 180.8 165.9 170.8 176.0

May 180.3 166.4 169.4 176.0

June 179.1 167.2 168.1 175.4

Annual average 175.9 169.5 171.3 171.5

Ratio (b) - per cent July 22.2 23.3 23.5 23.2 24.6

August 22.2 23.1 23.7 23.2 24.6

September 22.2 22.9 23.8 23.3 24.6

October 22.3 22.8 23.8 23.4 24.4

November 22.5 22.9 23.8 23.5 24.2

December 22.8 22.9 23.6 23.7

January 23.2 23.0 23.5 23.8

February 23.5 23.0 23.4 24.0

March 23.7 23.1 23.3 24.2

April 23.8 23.1 23.2 24.3

May 23.7 23.2 23.2 24.5

June 23.5 23.3 23.1 24.5

Annual average 23.0 23.0 23.5 23.8

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

Update

Source: ABS, Labour force, detailed - electronic delivery , cat. no. 6291.0.55.001 31 January 2019

18.0

20.0

22.0

24.0

26.0

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

 1.7 ANZ job advertisements

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

 ABS, Participation, job search and mobility, cat. no. 6226.0

Monthly statistical bulletin

5

1.5 Youth unemployment

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Young unemployed (a) (b) - '000 July 280.6 276.2 272.7 272.0 248.0

August 284.8 273.2 273.4 270.0 246.8

September 288.9 269.2 272.6 267.7 247.5

October 292.3 264.5 271.8 265.6 249.4

November 294.3 259.4 271.7 264.9 251.3

December 294.3 254.6 272.0 265.8

January 292.1 251.2 272.4 267.6

February 288.5 250.8 272.2 268.1

March 284.8 253.6 271.8 266.1

April 282.1 259.1 271.9 261.9

May 280.3 265.2 272.5 256.4

June 278.5 270.0 272.9 251.4

Annual average 286.8 262.3 272.3 264.8

Youth unemployment rate (b) - per cent July 13.5 13.1 12.9 12.7 11.4

August 13.7 13.0 13.0 12.6 11.3

September 13.9 12.8 13.0 12.5 11.3

October 14.0 12.5 12.9 12.4 11.3

November 14.1 12.3 12.9 12.3 11.4

December 14.1 12.0 12.9 12.3

January 13.9 11.9 12.9 12.4

February 13.8 11.8 12.9 12.3

March 13.6 12.0 12.9 12.2

April 13.4 12.2 12.9 12.0

May 13.3 12.5 12.9 11.7

June 13.2 12.8 12.8 11.5

Annual average 13.7 12.4 12.9 12.2

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

(b) Trend estimates

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

24 January 2019

10.0

11.0

12.0

13.0

14.0

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 Underemployment

 1.7 ANZ job advertisements

 1.8 Jobseekers receiving allowances

Related publications  Parliamentary Library, Youth unemployment statistics: a quick guide

 Parliamentary Library, Youth unemployment statistics for small geographic areas: a quick guide

 ABS, Participation, job search and mobility, cat. no. 6226.0.

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

Monthly statistical bulletin

6

1.6 Underemployment

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

Number underemployed (a) - '000 July 1 005.5 1 065.6 1 101.7 1 115.2 1 117.0

August 1 026.1 1 077.2 1 102.6 1 114.0 1 113.2

September 1 041.7 1 085.7 1 099.8 1 114.2 1 112.1

October 1 051.1 1 088.5 1 097.2 1 115.3 1 114.7

November 1 054.8 1 085.1 1 098.0 1 116.8 1 120.3

December 1 054.3 1 077.2 1 103.7 1 118.1

January 1 051.4 1 068.4 1 112.8 1 119.7

February 1 048.0 1 063.5 1 120.9 1 122.5

March 1 044.7 1 064.8 1 125.3 1 125.4

April 1 043.6 1 072.9 1 125.3 1 126.7

May 1 046.9 1 084.4 1 122.0 1 125.3

June 1 054.8 1 095.2 1 118.1 1 121.6

Annual average 1 043.6 1 077.4 1 110.6 1 119.6

Underemployment rate (a) - per cent July 8.2 8.5 8.7 8.6 8.4

August 8.3 8.6 8.7 8.6 8.4

September 8.5 8.6 8.7 8.5 8.3

October 8.5 8.6 8.6 8.5 8.3

November 8.5 8.6 8.6 8.5 8.4

December 8.5 8.5 8.7 8.5

January 8.5 8.4 8.7 8.5

February 8.4 8.4 8.7 8.5

March 8.4 8.4 8.8 8.5

April 8.4 8.5 8.7 8.5

May 8.4 8.5 8.7 8.5

June 8.4 8.6 8.6 8.5

Annual average 8.4 8.5 8.7 8.5

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 24 January 2019

7.0

7.5

8.0

8.5

9.0

Aug-15 Aug-16 Aug-17 Aug-18 Aug-19

Underemployment 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. 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. Note: the ABS now releases a monthly trend series for underemployment, which is shown here. This replaces the quarterly series that was previously provided.

Related statistics in this bulletin  1.1 Employment  1.2 Unemployment  1.3 Labour force  1.5 Youth unemployment  1.7 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

Monthly statistical bulletin

7

1.7 ANZ job advertisements

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Advertisements (a) (b) - number July 127 548 138 584 147 893 166 086 177 260

August 127 339 140 312 148 899 167 453 176 961

September 128 022 141 820 149 836 168 661 176 554

October 129 152 143 011 150 765 169 950 176 135

November 130 257 143 734 151 911 171 362 175 737

December 131 047 143 946 153 370 172 943 175 521

January 131 715 143 882 154 996 174 592

February 132 464 143 821 156 754 176 026

March 133 255 144 102 158 665 177 066

April 134 175 144 795 160 648 177 609

May 135 354 145 702 162 594 177 736

June 136 851 146 801 164 480 177 564

Annual average 131 432 143 376 155 068 173 087

Annual change (b) - per cent July -1.4 8.7 6.7 12.3 6.7

August -0.8 10.2 6.1 12.5 5.7

September 0.3 10.8 5.7 12.6 4.7

October 1.7 10.7 5.4 12.7 3.6

November 2.7 10.3 5.7 12.8 2.6

December 2.9 9.8 6.5 12.8 1.5

January 2.5 9.2 7.7 12.6

February 2.2 8.6 9.0 12.3

March 2.3 8.1 10.1 11.6

April 3.0 7.9 10.9 10.6

May 4.5 7.6 11.6 9.3

June 6.5 7.3 12.0 8.0

Annual average 2.2 9.1 8.1 11.7

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

Source: ANZ Banking Group, Job advertisements series

4 February 2019

120 000

140 000

160 000

180 000

200 000

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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  1.6 Underemployment  1.8 Jobseekers receiving allowances

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

Monthly statistical bulletin

8

1.8 Jobseekers receiving allowances

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Jobseeker allowance recipients (a) - '000 July 413.9 479.7 509.8 511.3 482.4

August 403.0 530.6 497.5 496.2 454.4

September 399.3 526.7 490.1 486.9 441.6

October 398.8 514.9 488.2 485.1 437.7

November 397.2 509.1 485.9 478.8 433.7

December 421.2 531.4 513.0 499.4

January 437.7 550.0 533.3 512.7

February 440.0 542.7 538.2 505.2

March 431.1 542.8 529.3 500.4

April 435.9 530.1 534.4 490.6

May 430.3 517.7 520.8 484.1

June 441.4 511.2 513.4 483.1

Annual average 420.8 523.9 512.8 494.5

Annual change - per cent July 0.6 .. 6.3 0.3 -5.6

August 2.3 .. -6.2 -0.3 -8.4

September 3.9 .. -7.0 -0.6 -9.3

October 3.9 .. -5.2 -0.6 -9.8

November 3.1 .. -4.6 -1.5 -9.4

December 3.6 .. -3.5 -2.7

January 2.2 .. -3.0 -3.9

February 3.4 .. -0.8 -6.1

March 3.3 .. -2.5 -5.5

April 4.9 .. 0.8 -8.2

May 3.0 .. 0.6 -7.1

June 5.8 .. 0.4 -5.9

Annual average 3.3 .. -2.1 -3.6

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

Update

Source: Department of Social Services, Labour market and related payments: a monthly profile 6 February 2019

100

200

300

400

500

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Persons '000

Short-term allowance recipients Long-term allowance recipients

Series break

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 (other). Newstart Allowance is paid to eligible unemployed people aged 22 years and over, 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 are not full-time students or full-time apprentices. These people are required to undertake approved activities under the ‘Earn or learn’ framework. Note: there have been several breaks in the time series and caution should be used when comparing figures over time. The most recent break occurred at 1 July 2015, when a new employment services model (‘jobactive’) was introduced. A previous break occurred in July 2012.

Related statistics in this bulletin  1.2 Unemployment  1.4 Long-term unemployment  1.5 Youth unemployment  1.7 ANZ job advertisements

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

Monthly statistical bulletin

9

1.9 Industrial disputes

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

Working days lost - '000 September 24.6 29.1 34.9 45.9 47.4

December 16.9 19.1 37.2 36.7

March 20.4 27.9 25.6 14.9

June 14.8 24.5 40.2 12.5

Annual (a) 88.9 76.8 100.7 137.8

Working days lost per '000 employees September 2.4 2.8 3.3 4.2 4.2

December 1.6 1.8 3.4 3.3

March 1.9 2.6 2.3 1.3

June 1.4 2.3 3.7 1.1

Update

(a) 12 months ended June.

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

14 March 2019

0

1

2

3

4

5

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

10

2.1 Average weekly ordinary time earnings (AWOTE)

Quarter 2013-14 2014-15 2015-16 2016-17 2017-18

AWOTE - $ per week

November 1437.00 1477.00 1500.50 1533.40 1569.60

May 1454.10 1483.10 1516.00 1543.20 1585.30

Annual average 1445.55 1480.05 1508.25 1538.30 1577.45

AWOTE annual change - per cent

November 2.9 2.8 1.6 2.2 2.4

May 2.3 2.0 2.2 1.8 2.7

Annual average 2.6 2.4 1.9 2.0 2.5

Real AWOTE (a) - $ per week

November 1549.44 1565.68 1564.17 1575.22 1582.20

May 1551.59 1558.98 1577.42 1575.26 1585.30

Annual average 1550.51 1562.33 1570.80 1575.24 1583.75

Real AWOTE annual change - per cent

November 0.2 1.0 -0.1 0.7 0.4

May -0.7 0.5 1.2 -0.1 0.6

Annual average -0.2 0.8 0.5 0.3 0.5

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

ABS, Consumer price index , cat. no. 6401.0

Update

21 February 2019

(a) Expressed in May 2018 dollars; converted to real terms using the Consumer Price Index (CPI).

1 300

1 350

1 400

1 450

1 500

1 550

1 600

May-13 May-14 May-15 May-16 May-17 May-18

Dollars

AWOTE

Real AWOTE (May 2018 dollars)

What is measured? Average weekly ordinary time earnings is a measure of before tax earnings of full-time adult employees. The measure 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 August 1981. The original time series has been used as it goes back to November 1994 whereas the trend and seasonally adjusted series only goes back to May 2012. 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 2013-14 2014-15 2015-16 2016-17 2017-18

MTAWE - $ per week

November 1347.90 1371.50 1374.80 1397.90 1427.80

May 1364.60 1369.50 1395.10 1417.20 1445.30

Annual average 1356.25 1370.50 1384.95 1407.55 1436.55

MTAWE annual change - per cent

November 1.8 1.8 0.2 1.7 2.1

May 0.6 0.4 1.9 1.6 2.0

Annual average 1.2 1.1 1.1 1.6 2.1

Real MTAWE (a) - $ per week

November 1453.37 1453.84 1433.14 1436.02 1439.26

May 1456.09 1439.57 1451.62 1446.64 1445.30

Annual average 1454.73 1446.70 1442.38 1441.33 1442.28

Real MTAWE annual change - per cent

November -0.9 0.0 -1.4 0.2 0.2

May -2.4 -1.1 0.8 -0.3 -0.1

Annual average -1.6 -0.6 -0.3 -0.1 0.1

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

ABS, Consumer price index , cat. no. 6401.0

Update

21 February 2019

(a) Expressed in May 2018 dollars; converted to real terms using the Consumer Price Index (CPI).

1 150

1 200

1 250

1 300

1 350

1 400

1 450

1 500

May-13 May-14 May-15 May-16 May-17 May-18

Dollars

MTAWE

Real MTAWE (May 2018 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, The original time series has been used as it goes back to November 1994 whereas the trend and seasonally adjusted series only goes back to May 2012. 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 2014-15 2015-16 2016-17 2017-18 2018-19

Total Wage price index (a) - index September 119.4 122.0 124.4 126.9 129.7

December 120.1 122.7 125.0 127.6

March 120.8 123.3 125.6 128.3

June 121.4 123.9 126.3 129.0

Annual average 120.4 123.0 125.3 128.0

Total Annual change (a) - per cent September 2.5 2.2 2.0 2.0 2.2

December 2.5 2.2 1.9 2.1

March 2.4 2.1 1.9 2.1

June 2.3 2.1 1.9 2.1

Annual average 2.4 2.2 1.9 2.1

Private Sector Annual change (a) - per cent September 2.5 2.1 1.9 1.9 2.1

December 2.4 2.0 1.8 1.9

March 2.3 2.0 1.8 2.0

June 2.2 1.9 1.9 2.1

Annual average 2.4 2.0 1.9 2.0

Public Sector Annual change (a) - per cent September 2.8 2.7 2.3 2.4 2.5

December 2.7 2.6 2.3 2.4

March 2.6 2.5 2.3 2.4

June 2.6 2.4 2.4 2.4

Annual average 2.7 2.6 2.3 2.4 Update

(a) Trend data

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

20 February 2019

1.0

1.5

2.0

2.5

3.0

3.5

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Annual change - per cent

Private Sector

Public Sector

Total

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. The data relates to total hourly rates of pay excluding bonuses in all industries in the private and public sectors. Index base: 2008-09 = 100.0.

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 2014-15 2015-16 2016-17 2017-18 2018-19

Consumer price index (a) September 106.4 108.0 109.4 111.4 113.5

December 106.6 108.4 110.0 112.1

March 106.8 108.2 110.5 112.6

June 107.5 108.6 110.7 113.0

Consumer price index quarterly change - per cent September 0.5 0.5 0.7 0.6 0.4

December 0.2 0.4 0.5 0.6

March 0.2 -0.2 0.5 0.4

June 0.7 0.4 0.2 0.4

Consumer price index annual change (b) - per cent September 2.3 1.5 1.3 1.8 1.9

December 1.7 1.7 1.5 1.9

March 1.3 1.3 2.1 1.9

June 1.5 1.0 1.9 2.1

Annual average 1.7 1.4 1.7 1.9

Underlying inflation annual change (c) - per cent September 2.5 2.2 1.5 1.9

December 2.3 2.1 1.5 1.9

March 2.4 1.6 1.8 2.0

June 2.2 1.5 1.9 1.8

Annual average 2.4 1.8 1.6 1.9

(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 weighted median and trimmed mean price inflation measures. Referred to as the 'underlying' inflation rate. Update

Source:

ABS, Consumer price index, cat. no. 6401.0

30 January 2019

0

1

2

3

4

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 such as the ‘trimmed mean’ and the ‘weighted median’. These measures smooth out the volatility of regular seasonal movements and any large irregular price changes to provide what are often 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 17 th

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 2014-15 2015-16 2016-17 2017-18 2018-19

Index (a) (b) September 97.6 96.7 98.1 101.1 103.4

December 97.4 96.4 99.8 101.4

March 97.2 96.3 100.9 102.1

June 97.0 96.8 101.1 102.7

Quarterly change (b) - per cent September -0.5 -0.3 1.5 -0.1 1.6

December -0.3 -0.3 1.7 0.4

March -0.1 -0.1 1.0 0.7

June -0.2 0.6 0.0 0.6

Annual change (b) - per cent September -0.3 -0.9 1.4 3.1 2.3

December -0.9 -1.0 3.5 1.6

March -1.2 -0.9 4.8 1.2

June -1.0 -0.2 4.4 1.6

Annual average -0.9 -0.8 3.5 1.9

(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

6 March 2019

-2

0

2

4

6

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Annual change - per cent

What is measured? The Implicit Price Deflator (IPD) is used to measure price changes throughout the economy. In contrast, the Consumer Price Index (CPI) measures price changes for a fixed basket of household goods and services purchased by consumers in capital cities.

The IPD for non-farm GDP includes price changes for all goods and services produced in the economy excluding agricultural production. Agricultural production has been excluded due to the high volatility in prices for agricultural products.

Even with the removal of farm GDP, the non-farm IPD can be heavily influenced by movements in commodity prices during the quarter.

The IPD is calculated by dividing a current price value (nominal) by its real counterpart (the chain volume measure). Implicit refers to the fact that it indirectly captures weighted prices of goods and services which are seen in the difference between real and nominal aggregates (such as non-farm GDP).

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 2014-15 2015-16 2016-17 2017-18 2018-19

Current prices (a) - $ million

September 403 824 410 816 429 203 452 945 477 234

December 405 148 413 218 438 969 458 118

March 407 251 416 205 446 681 465 095

June 409 137 420 843 450 405 471 457

Annual (b) 1 624 392 1 662 337 1 764 511 1 847 624

Chain volume measures (c) - $ million

September 415 646 425 838 437 495 448 217 461 647

December 417 860 429 251 439 739 451 664

March 420 363 432 616 442 574 455 331

June 423 033 435 289 445 478 458 763

Chain volume quarterly change (from previous qtr) (d) - per cent

September 0.5 0.8 0.5 0.8 0.6

December 0.6 0.8 0.6 0.8

March 0.6 0.6 0.7 0.8

June 0.7 0.5 0.6 0.6

Chain volume annual change (from same qtr of previous year) (d) - per cent

September 2.6 2.5 2.7 2.5 3.0

December 2.4 2.7 2.4 2.7

March 2.2 2.9 2.3 2.9

June 2.3 2.9 2.3 3.0

Update 6 March 2019

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

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

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 market 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.

GDP is also equivalent to Gross National Expenditure plus exports of goods and services less imports of goods and services.

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 2014-15 2015-16 2016-17 2017-18 2018-19

Current prices (a) - $ million

September 395 799 402 231 419 657 442 479 467 426

December 396 821 404 799 428 660 447 757

March 398 664 407 779 435 949 454 803

June 400 457 412 026 439 679 461 323

Annual (b) 1 590 750 1 628 188 1 722 963 1 806 165

Chain volume prices (c)- $ million

September 405 588 416 049 427 664 437 859 452 117

December 407 587 419 836 429 414 441 733

March 409 956 423 303 431 861 445 591

June 412 795 425 838 434 745 449 095

Chanin volume quarterly change (from previous qtr) (d) - per cent

September 0.5 0.8 0.4 0.7 0.7

December 0.5 0.9 0.4 0.9

March 0.6 0.8 0.6 0.9

June 0.7 0.6 0.7 0.8

Chanin volume annual change (from same qtr of previous year) (d) - per cent

September 2.7 2.6 2.8 2.4 3.3

December 2.4 3.0 2.3 2.9

March 2.2 3.3 2.0 3.2

June 2.3 3.2 2.1 3.3

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

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

Update 6 March 2019 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.

1

2

3

4

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 analytical purposes. Farm GDP can be very volatile, for example, due to the effects of weather events such as drought and floods. Non-farm GDP is often used because it is a more stable indicator.

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 2014-15 2015-16 2016-17 2017-18 2018-19

Wage share (a) (b) - per cent

September 53.7 54.3 53.6 52.4 52.1

December 53.8 54.7 52.5 52.5

March 53.9 54.9 51.9 52.3

June 54.0 54.6 52 52.2

Annual average (c) 53.9 54.6 52.5 52.4

Profit share (a) (c) - per cent

September 26.2 25.0 24.9 27.5 28.1

December 25.7 24.8 27.7 27.5

March 25.4 24.8 27.7 27.7

June 25.2 24.8 27.6 27.9

Annual average (c) 25.6 24.9 27.0 27.7

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

Update

(c) 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

6 March 2019

What is measured? Gross Domestic Product can be measured using a production, expenditure or income approach. The income approach measures total factor income generated by the economy which includes:

• Compensation of Employees (or COE) which consists of wages and salaries, and employers' social contributions

• Gross Operating Surplus (or GOS) (profits)

• gross mixed income (income from unincorporated businesses); and

• taxes less subsidies The ‘wage share’ is COE as a percentage of total factor income. The ‘profit share’ is 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 and should not be interpreted as a direct measure of 'profitability' which relate to the level of capital assets employed.

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

50.0

50.5

51.0

51.5

52.0

52.5

53.0

53.5

54.0

54.5

55.0

55.5

23

24

25

26

27

28

29

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Profit share (left axis)

Wages share (right axis)

Per cent Per cent

Monthly statistical bulletin

18

3.4 Household debt and saving ratios

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

Household debt to income ratio (a) - per cent

September 166.1 172.3 179.2 185.9 188.6

December 166.8 173.4 180.0 186.9

March 168.4 175.0 182.2 187.8

June 171.9 178.6 185.6 189.0

Household interest payments to income ratio (b) - per cent September 8.9 8.5 8.5 8.9 9.1

December 8.9 8.8 8.6 8.9

March 8.8 8.8 8.7 9.0

June 8.5 8.7 8.8 9.0

Household saving ratio (c) - per cent

September 8.2 6.9 5.5 4.0 2.4

December 8.3 5.6 4.7 4.1

March 7.6 5.5 5.1 3.7

June 7.8 5.8 4.1 2.8

Annual average 8.0 6.0 4.9 3.7

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

Update 6/3/2019 Household saving ratio

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

Last business Friday of March 2019 - (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 to income ratio measures housing and other personal debt, as a proportion of annualised household disposable income. The household interest payments to income 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.

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

150

155

160

165

170

175

180

185

190

195

200

0

1

2

3

4

5

6

7

8

9

10

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Household savings ratio (left axis)

Household interest payments to income ratio (left axis)

Household debt to income ratio (right axis)

Per cent Per cent

Monthly statistical bulleti n

19

3.5 Labour productivity (market sector)

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

Labour productivity index (a)

September 96.5 98.0 99.6 100.1 101

December 96.7 98.2 99.9 100.1

March 97.2 98.7 100.2 100.4

June 97.8 99.2 100.3 100.7

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

September -0.1 0.2 0.4 -0.2 0.2

December 0.2 0.3 0.3 0.0

March 0.6 0.4 0.3 0.3

June 0.6 0.5 0.1 0.3

Annual change (from same quarter of previous year) - per cent (c) \ September 2.3 1.6 1.6 0.5 0.9

December 1.3 1.6 1.7 0.2

March 0.8 1.5 1.5 0.2

June 1.2 1.4 1.1 0.4

Annual average 1.4 1.5 1.5 0.3

(a), (b) and (c) all trend data

Update

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

6 March 2019

-1

0

1

2

3

4

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Annual change - per cent (from same quarter of previous year) What is measured? Labour productivity is a measure of

the efficiency or effectiveness of production; that is, how much production (or output) is achieved given a certain amount of resources (or inputs). The Labour Productivity Index in the market sector is the ratio of Gross Value Added to hours worked in industries in the market sector. The index is a measure of real output per hour worked in the market economy. The market sector includes all industries apart from Public Administration and Safety; Education and Training; and Health Care and Social Assistance. Labour productivity is a partial measure of productivity in the economy and movements in the index implicitly reflect the influence of other factors of production (apart from labour) including capital, technological change, managerial efficiency and economies of scale.

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 2014-15 2015-16 2016-17 2017-18 2018-19

Value (a) - $ million July 23 345.5 24 463.5 25 248.2 25 990.3 26 804.1

August 23 431.2 24 560.1 25 354.3 25 998.5 26 870.2

September 23 665.3 24 654.1 25 466.8 26 014.3 26 936.8

October 23 740.8 24 740.3 25 562.2 26 056.4 27 003.3

November 23 815.4 24 821.5 25 623.6 26 128.3 27 065.3

December 23 891.0 24 897.5 25 656.7 26 217.3

January 23 971.6 24 964.8 25 682.3 26 312.2

February 24 053.8 25 016.0 25 724.2 26 405.2

March 24 133.9 25 049.9 25 790.5 26 494.6

April 24 212.0 25 075.3 25 865.9 26 582.0

May 24 289.8 25 108.4 25 930.1 26 663.3

June 24 372.7 25 164.6 25 971.1 26 736.7

Annual (b) 286 812.4 299 292.8 307 993.0 315 725.4

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

July 5.7 4.8 3.2 2.9 3.1

August 5.6 4.8 3.2 2.5 3.4

September 6.0 4.2 3.3 2.1 3.5

October 5.7 4.2 3.3 1.9 3.6

November 5.3 4.2 3.2 2.0 3.6

December 4.3 4.2 3.0 2.2

January 4.2 4.1 2.9 2.5

February 4.3 4.0 2.8 2.6

March 4.4 3.8 3.0 2.7

April 4.6 3.6 3.2 2.8

May 4.7 3.4 3.3 2.8

June 4.8 3.2 3.2 2.9

Annual (b) 5.0 4.4 2.9 2.5

Update

Source: ABS, Retail Trade, Australia, cat. no. 8501.0 5 February 2019

(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

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

Monthly statistical bulletin

21

4.2 Motor vehicle sales

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Total vehicle sales (a)

July 93 508 94 512 97 845 98 414 98 990

August 93 077 94 725 98 196 98 560 98 870

September 93 270 95 259 98 304 98 352 98 413

October 93 156 95 516 98 224 98 553 97 992

November 92 765 96 050 98 249 98 755 97 367

December 92 769 96 284 98 178 99 093 96 093

January 92 755 96 472 98 223 99 396

February 93 056 96 974 97 604 99 978

March 93 705 96 929 97 679 100 109

April 93 783 97 421 97 310 100 092

May 93 680 97 700 97 829 99 913

June 94 309 97 927 98 295 99 591

Annual (c) 1 131 706 1 175 121 1 179 545 1 195 086

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

July -1.7 1.1 3.5 0.6 0.6

August -2.1 1.8 3.7 0.4 0.3

September -1.8 2.1 3.2 0.0 0.1

October -1.6 2.5 2.8 0.3 -0.6

November -1.9 3.5 2.3 0.5 -1.4

December -2.0 3.8 2.0 0.9 -3.0

January -1.8 4.0 1.8 1.2

February -1.2 4.2 0.7 2.4

March -0.5 3.4 0.8 2.5

April 0.0 3.9 -0.1 2.9

May 0.1 4.3 0.1 2.1

June 0.8 3.8 0.4 1.3

Annual (c) 0.8 3.8 0.4 1.3

Update

(a) Monthly figures (including the graph) are a 12-month rolling average of the original series. Annual figures are calculated on the original series.

(b) 12 months ended June.

Early February 2019

Source: Federal Chamber of Automotive Industries, Media releases (monthly), and ABS, Sales of New Motor vehicles, Australia, cat. no. 9314.0 (ceased December 2017).

0

10,000

20,000

30,000

40,000

50,000

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Number

Passenger vehicles

Sports Utility Vehicles

What is measured? The ABS publication ‘Sales of New Motor Vehicles’ presented monthly statistics for new motor vehicle sales in Australia. December 2017 was the final issue of the ABS Sales of New Motor Vehicles, Australia (cat. no. 9314.0) publication. Data on sales of new motor vehicles (in original terms) from this date is sourced from the Federal Chamber of Automotive Industries (FCAI) website (media releases). In terms of comparability over time, FCAI have advised the Parliamentary Library that: “While we (the FCAI) have always provided the ABS with data for its reports, any interpretation that the ABS placed into those reports was its own, including its own method of categorisation (which differs from our own).” FCAI also advised that their data is not seasonally adjusted. The numbers in the two tables represent total motor vehicle sales. The graph shows sales of passenger and sports utility vehicles. This series is subject to large and irregular fluctuations. For this reason, 12 month rolling averages are presented in the graph. However, care should be taken when interpreting movements in the series.

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

Break in series January 2018

Monthly statistical bulletin

22

4.3 Dwelling approvals

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Number (a) \ July 17 055 19 804 20 063 18 755 17 822

August 17 488 19 735 19 611 19 246 17 405

September 17 945 19 704 19 096 19 607 16 969

October 18 420 19 659 18 562 19 769 16 554

November 18 895 19 612 18 107 19 796 16 171

December 19 365 19 653 17 780 19 677

January 19 792 19 748 17 627 19 488

February 20 124 19 877 17 641 19 281

March 20 256 20 047 17 685 19 072

April 20 180 20 279 17 749 18 847

May 20 059 20 403 17 893 18 586

June 19 919 20 320 18 266 18 241

Annual (b) 230 849 238 726 222 075 231 639

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

July 12.0 16.1 1.3 -6.5 -5.0

August 10.5 12.8 -0.6 -1.9 -9.6

September 9.2 9.8 -3.1 2.7 -13.5

October 8.7 6.7 -5.6 6.5 -16.3

November 9.7 3.8 -7.7 9.3 -18.3

December 12.3 1.5 -9.5 10.7

January 16.1 -0.2 -10.7 10.6

February 19.9 -1.2 -11.2 9.3

March 22.1 -1.0 -11.8 7.8

April 21.9 0.5 -12.5 6.2

May 21.0 1.7 -12.3 3.9

June 19.0 2.0 -10.1 -0.1

Annual (b) 15.6 3.4 -7.0 4.3

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.

4 February 2019

0

5 000

10 000

15 000

20 000

25 000

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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, Engineering Construction

Activity, Australia, cat. no. 8762.0

Monthly statistical bulletin

23

4.4 Business investment

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

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

September 62 191 56 113 50 690 53 964 54 162

December 61 170 54 386 50 764 54 734

March 59 855 52 800 51 628 54 790

June 58 069 51 435 52 860 54 485

Annual (c) 237 658 214 504 200 529 218 921

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

September -5.3 -9.8 -9.7 6.5 0.4

December -6.4 -11.1 -6.7 7.8

March -7.1 -11.8 -2.2 6.1

June -8.1 -11.4 2.8 3.1

Annual (c) -6.5 -9.7 -6.5 9.2

(c) Year ending 30 June.

Update 5 February 2019

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

(a) Reference year for chain volume measures is 2015-16.

(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-15 Jun-16 Jun-17 Jun-18 Jun-19

$ 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 i 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 2014-15 2015-16 2016-17 2017-18 2018-19

Non-business related bankrupts - Number

September 3 498 3 406 3 187 3 268 2 961

December 3 408 3 286 3 087 3 049

March 3 624 3 277 3 311 3 247

June 3 403 3 476 3 035 3 283

Annual (b) 13 933 13 445 12 620 12 847

Business related bankrupts - Number

September 1 072 1 132 1 190 1 068 1 076

December 895 1 040 1 013 1 088

March 903 964 1 052 1 031

June 968 1 187 964 1 213

Annual (b) 3 838 4 323 4 219 4 400

Total bankrupts

September 4 570 4 538 4 377 4 336 4 037

December 4 303 4 326 4 100 4 137

March 4 527 4 241 4 363 4 278

June 4 371 4 663 3 999 4 496

Annual (b) 17 771 17 768 16 839 17 247

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

September -11.3 -0.7 -3.5 -0.9 -6.9

December -14.2 0.5 -5.2 0.9

March -11.9 -6.3 2.9 -1.9

June 8.1 6.7 -14.2 12.4

Annual (b) -8.2 0.0 -5.2 2.4

Update 22 January 2019 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.

3 500

3 700

3 900

4 100

4 300

4 500

4 700

4 900

5 100

5 300

5 500

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 2014-15 2015-16 2016-17 2017-18 2018-19

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

September 6.65 6.05 5.75 5.70 5.65

December 6.60 6.05 5.70 5.70

March 6.35 6.10 5.75 5.70

June 6.05 5.90 5.70 5.65

Annual average (d) 6.41 6.03 5.73 5.69

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

September 4.70 4.00 3.75 3.55 3.85

December 4.65 4.05 3.70 3.55

March 4.30 4.15 3.75 3.65

June 4.05 3.95 3.55 3.85

Annual average (d) 4.43 4.04 3.69 3.65

(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) Quarterly average, 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-16 Jun-17 Jun-18 Jun-19

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 2014-15 2015-16 2016-17 2017-18 2018-19

Banks' housing interest rate - per cent

July 5.95 5.45 5.40 5.20 5.20

August 5.95 5.45 5.25 5.20 5.20

September 5.95 5.45 5.25 5.20 5.30

October 5.95 5.45 5.25 5.20 5.35

November 5.95 5.65 5.25 5.20 5.35

December 5.95 5.65 5.25 5.20 5.35

January 5.95 5.65 5.25 5.20

February 5.65 5.65 5.25 5.20

March 5.65 5.65 5.30 5.20

April 5.65 5.65 5.30 5.20

May 5.45 5.40 5.30 5.20

June 5.45 5.40 5.25 5.20

Interbank overnight cash rate - per cent

July 2.50 2.00 1.75 1.50 1.50

August 2.50 2.00 1.52 1.50 1.50

September 2.50 2.00 1.50 1.50 1.50

October 2.50 2.00 1.50 1.50 1.50

November 2.50 2.00 1.50 1.50 1.50

December 2.50 2.00 1.50 1.50 1.50

January 2.50 2.00 1.50 1.50

February 2.28 2.00 1.50 1.50

March 2.25 2.00 1.50 1.50

April 2.25 2.00 1.50 1.50

May 2.04 1.77 1.50 1.50

June 2.00 1.75 1.50 1.50

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

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 2014-15 2015-16 2016-17 2017-18 2018-19

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

July -0.1 2.6 -0.5 0.7 -0.9

August 0.1 2.5 -0.4 0.5 -1.1

September 0.4 2.0 -0.1 0.4 -1.1

October 0.6 1.2 0.2 0.3 -1.0

November 1.1 0.3 0.4 0.2

December 1.5 -0.5 0.3 0.2

January 1.7 -0.8 0.3 0.0

February 1.7 -0.6 0.3 -0.1

March 1.6 -0.4 0.4 -0.1

April 1.7 -0.3 0.7 -0.2

May 1.9 -0.3 0.8 -0.4

June 2.2 -0.4 0.8 -0.6

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

July 2.3 -4.1 2.1 -0.7 -1.5

August 2.7 -5.1 2.4 -0.7 -1.3

September 2.7 -5.1 2.5 -0.7 -1.1

October 1.9 -4.1 2.1 -0.6 -1.0

November 1.4 -2.7 1.5 -0.8

December 1.2 -1.3 0.7 -1.1

January 1.3 0.0 -0.2 -1.6

February 1.3 1.0 -1.0 -2.1

March 1.2 1.4 -1.3 -2.5

April 0.3 1.6 -1.2 -2.7

May -1.0 1.7 -1.0 -2.4

June -2.7 1.9 -0.8 -2.0

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

Update

Source: ABS, Housing Finance , cat. no. 5609.0 17 January 2019

- 6

- 5

- 4

- 3

- 2

- 1

0

1

2

3

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Owner-occupied

Investment

Monthly % 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 2014-15 2015-16 2016-17 2017-18 2018-19

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

September 325 200 376 600 367 700 375 600 383 900

December 334 600 373 900 375 800 393 300

March 333 500 354 700 368 200 388 300

June 347 800 360 800 375 500 396 400

Annual average (b) 332 667 365 425 369 233 385 867

Loan repayments as a proportion of family income - per cent

September 30.6 32.2 30.9 30.3 31.4

December 31.7 33.7 31.7 31.6

March 30.1 31.3 30.4 31.3

June 30.6 31.2 31.5 32.2

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

September 620 682 697 334 712 776 761 955 751 411

December 647 768 693 645 743 500 769 501

March 657 890 683 796 763 892 770 086

June 683 985 703 187 768 200 765 098

(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 17 January 2019 (cat. no. 5609.0) February 2019 (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-2015 Jun-2016 Jun-2017 Jun-2018 Jun-2019

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 since 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,

Affordability Report, Quarterly

Monthly statistical bulletin

29

5.5 Stock exchange indexes

Month 2014-15 2015-16 2016-17 2017-18 2018-19

All ordinaries index (a)

July 5623.1 5681.7 5644.0 5773.9 6366.2

August 5624.6 5222.1 5529.4 5776.3 6427.8

September 5296.8 5058.6 5525.2 5744.9 6325.5

October 5505.0 5288.6 5402.4 5976.4 5913.3

November 5298.1 5218.2 5502.4 6057.2 5749.3

December 5388.6 5344.6 5719.1 6167.3 5709.4

January 5551.6 5056.6 5675.0 6146.5

February 5898.5 4947.9 5761.0 6117.3

March 5861.9 5151.8 5903.8 5868.9

April 5773.7 5316.0 5947.6 6071.6

May 5774.9 5447.8 5761.3 6123.5

June 5451.2 5310.4 5764.0 6289.7

S&P/ASX 200 index (b)

July 5623.9 5699.2 5562.4 5720.6 6280.2

August 5625.9 5207.0 5433.0 5714.5 6319.5

September 5292.8 5021.6 5435.9 5681.6 6207.6

October 5526.6 5239.4 5317.7 5909.0 5830.3

November 5313.0 5188.6 5440.5 5969.9 5667.2

December 5411.0 5295.9 5665.8 6065.3 5646.4

January 5588.3 5005.5 5620.9 6037.7

February 5928.8 4880.9 5712.2 6015.9

March 5891.5 5082.8 5864.9 5759.4

April 5790.0 5252.2 5924.1 5982.7

May 5777.2 5378.6 5724.6 6011.9

June 5459.0 5233.4 5721.5 6194.6

(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 February 2019

4 000

4 500

5 000

5 500

6 000

6 500

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

Monthly statistical bulletin

30

6.1 International trade in goods and services

Month 2014-15 2015-16 2016-17 2017-18 2018-19

Exports of goods and services (a) - $ million

July 26 727 26 376 26 875 31 703 36 687

August 26 297 26 463 26 880 31 668 37 252

September 26 214 27 408 27 812 32 363 37 518

October 26 636 26 444 28 088 31 799 37 913

November 26 530 25 944 31 348 31 850 38 445

December 27 185 24 955 33 901 32 528

January 27 439 25 027 32 201 34 551

February 27 625 25 113 32 106 35 136

March 27 004 25 880 32 671 35 189

April 24 898 26 016 30 070 34 576

May 25 447 26 274 32 189 35 877

June 26 281 25 933 31 780 36 812

Annual 318 283 311 833 365 921 404 052

Imports of goods and services (a) - $ million

July 28 611 30 178 29 235 31 464 34 967

August 28 004 30 083 29 243 31 258 35 253

September 29 108 31 073 29 064 31 562 34 724

October 28 684 30 996 29 934 31 655 35 900

November 29 018 30 483 29 792 31 797 36 520

December 28 513 29 821 30 047 34 308

January 29 059 28 722 31 419 33 178

February 29 778 28 905 29 892 33 648

March 29 567 29 091 30 948 33 968

April 29 742 28 458 31 247 33 738

May 29 316 28 856 30 874 34 909

June 30 360 29 391 31 284 34 663

Annual 349 160 357 121 362 436 394 385

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

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

5 February 2019

20 000

25 000

30 000

35 000

40 000

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

$ 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  Melbourne Institute, Monthly

bulletin of economic trends

Monthly statistical bulletin

31

6.2 Balance on current account

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

Value (a) - $ million

September -13 956 -20 474 -14 407 -13 251 -10 688

December -12 634 -22 433 -6 047 -15 407

March -12 707 -17 250 -7 061 -10 758

June -20 676 -17 990 -10 791 -12 056

Proportion of gross domestic product (a) - per cent

September -3.5 -5.0 -3.4 -2.9 -2.2

December -3.1 -5.4 -1.4 -3.4

March -3.1 -4.1 -1.6 -2.3

June -5.1 -4.3 -2.4 -2.6

Value - 12 months ending quarter shown - $ million

September -49 800 -66 704 -72 284 -36 807 -48 563

December -50 229 -76 915 -55 435 -46 657

March -52 435 -80 840 -45 722 -50 224

June -59 761 -78 605 -38 906 -51 223

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

September -3.1 -4.1 -4.3 -2.1 -2.6

December -3.1 -4.7 -3.3 -2.6

March -3.2 -4.9 -2.6 -2.8

June -3.7 -4.7 -2.2 -2.8

(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

Update 5 March 2019

-25 000

-20 000

-15 000

-10 000

-5 000

0

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 2014-15 2015-16 2016-17 2017-18 2018-19

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

September 99.6 94.6 91.0 99.6 111.1

December 99.3 90.6 101.2 101.6

March 98.1 87.0 107.0 106.2

June 94.7 88.1 101.5 107.8

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

September 98.8 104.8 99.5 99.0 107.5

December 100.6 104.5 99.6 101.1

March 101.4 101.5 100.0 102.5

June 102.1 100.3 100.8 105.2

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

September 100.8 90.3 91.4 100.6 103.3

December 98.7 86.7 101.6 100.5

March 96.8 85.8 107.0 103.6

June 92.8 87.9 100.7 102.5

(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 = 2015-16

5 March 2019

75

85

95

105

115

125

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Terms of trade - index

What is measured? The terms of trade index is calculated by dividing the Implicit Price Deflator (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  Deloitte Access Economics,

Business outlook

Monthly statistical bulletin

33

6.4 Exchange rates

Month 2014-15 2015-16 2016-17 2017-18 2018-19

United States dollar (a) - cents

July 93.24 72.94 75.22 79.87 74.31

August 93.49 71.49 75.14 78.98 72.60

September 87.52 70.10 76.30 78.39 72.22

October 88.05 70.99 76.13 76.73 70.85

November 84.91 71.89 74.74 75.85 73.16

December 82.02 73.06 72.36 78.00 70.58

January 77.81 71.00 75.67 80.73

February 77.92 71.40 76.88 77.92

March 76.34 76.57 76.44 76.65

April 79.81 76.55 74.75 75.70

May 76.63 72.42 74.50 75.64

June 76.80 74.26 76.92 73.91

Trade weighted index (b) - index

July 71.50 61.40 63.30 67.30 63.50

August 71.90 60.90 63.20 66.30 62.20

September 68.90 59.90 63.90 66.20 62.20

October 69.40 60.30 65.00 64.90 61.90

November 68.20 61.80 65.30 63.60 63.30

December 66.50 62.70 63.90 64.90 60.70

January 63.90 61.50 65.80 65.60

February 64.10 61.40 66.70 63.60

March 63.30 64.40 66.20 62.30

April 65.30 63.80 64.50 62.10

May 63.70 61.70 63.80 62.80

June 63.80 62.50 65.50 62.60

(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 February 2019

50

60

70

80

90

100

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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  Deloitte Access Economics,

Business outlook  Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

34

6.5 Foreign debt

Quarter (a) 2014-15 2015-16 2016-17 2017-18 2018-19 Gross foreign debt, public sector - $ million

September 335 311 375 243 382 642 389 864 408 539

December 350 615 366 873 371 567 405 097

March 369 071 374 649 384 831 402 412

June 355 230 377 666 383 579 411 798

Gross foreign debt, private sector - $ million

September 1 463 843 1 775 294 1 755 205 1 686 878 1 805 540

December 1 552 693 1 749 651 1 780 234 1 725 097

March 1 667 529 1 761 138 1 680 849 1 793 544

June 1 642 693 1 819 639 1 719 626 1 829 761

Gross foreign debt, total - $ million

September 1 799 154 2 150 537 2 137 846 2 076 741 2 214 079

December 1 903 308 2 116 525 2 151 801 2 130 193

March 2 036 600 2 135 786 2 065 680 2 195 956

June 1 997 923 2 197 305 2 103 205 2 241 559

Net foreign debt - $ million

September 895 373 990 167 1 025 278 986 882 1 044 032

December 931 863 1 002 369 1 003 189 1 014 928

March 963 736 1 006 053 978 013 1 018 697

June 957 305 1 025 717 965 299 1 031 459

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

September 55.7 60.6 61.2 55.1 55.8

December 57.7 61.1 58.8 56.1

March 59.5 61.1 56.3 55.8

June 58.9 61.7 54.7 55.8

(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 March 2019 ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

40

45

50

55

60

65

70

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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  Deloitte Access Economics,

Business outlook

Monthly statistical bulletin

35

7.1 Population

Quarter 2013-14 2014-15 2015-16 2016-17 2017-18

Estimated resident population (a) - '000

September 23 220.2 23 562.9 23 904.3 24 299.9 24 706.3

December 23 297.8 23 640.3 23 984.6 24 389.7 24 775.1

March 23 406.2 23 745.6 24 103.4 24 518.4 24 900.2

June 23 475.7 23 816.0 24 190.9 24 601.9 24 992.4

Annual change - '000

September 386.3 342.7 341.4 395.6 406.5

December 369.8 342.6 344.3 405.1 385.4

March 363.2 339.4 357.8 414.9 381.9

June 347.6 340.3 374.9 411.0 390.5

Annual change - per cent

September 1.69 1.48 1.45 1.65 1.67

December 1.61 1.47 1.46 1.69 1.58

March 1.58 1.45 1.51 1.72 1.56

June 1.50 1.45 1.57 1.70 1.59

(a) At the end of the quarter.

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

Update

31 March 2019

1.0

1.2

1.4

1.6

1.8

2.0

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

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  ABS, Regional Population growth, cat. no. 3218.0

Monthly statistical bulletin

36

7.2 Components of population change

Quarter 2013-14 2014-15 2015-16 2016-17 2017-18

Births - '000

September 76.9 79.0 78.8 79.0 79.7

December 75.7 77.1 75.9 75.8 71.5

March 77.5 76.2 78.8 76.7 79.7

June 76.9 75.4 78.2 76.3 83.9

Annual 307.0 307.7 311.7 307.8 314.8

Deaths - '000

September 39.7 43.1 44.1 43.7 44.5

December 37.0 37.5 38.0 39.6 38.7

March 34.9 35.8 36.1 36.8 39.9

June 38.5 39.5 39.2 40.1 37.9

Annual 150.1 155.9 157.4 160.2 161.0

Natural increase - '000

September 39.8 38.4 34.8 35.3 35.2

December 37.2 35.9 37.9 36.2 32.8

March 38.7 39.5 42.7 39.9 39.8

June 42.7 40.4 39.0 36.2 46.0

Annual 158.4 154.2 154.4 147.6 153.8

Net overseas migration (a) - '000

September 54.2 50.2 50.4 73.7 69.2

December 38.2 36.8 39.3 53.6 35.9

March 65.0 63.8 73.0 88.8 85.4

June 30.4 33.3 43.6 47.3 46.2

Annual 187.8 184.1 206.3 263.4 236.7

(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 21 March 2019

15

30

45

60

75

90

105

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

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

Monthly statistical bulletin

37

7.3 Overseas arrivals—visitors and settlers

Month 2014-15 2015-16 2015-16 2017-18 2018-19

Visitors (a) (b) - '000

July 580.6 617.6 694.8 744.6 774.4

August 582.2 624.0 699.7 747.7 777.7

September 583.5 632.2 703.6 750.0 780.1

October 585.7 640.3 706.5 751.8 782.6

November 589.3 647.3 708.5 753.6

December 593.5 653.0 710.8 754.7

January 597.9 657.9 714.2 756.1

February 602.2 662.9 718.7 757.7

March 605.8 668.3 724.3 759.9

April 608.6 674.7 730.4 763.0

May 611.0 681.3 735.8 766.8

June 613.6 688.4 740.6 770.6

Annual 7 153.9 7 847.9 8 587.9 9 076.5

Settlers (c) - '000

July 9.6 9.4 10.6 8.3 8.3

August 11.8 11.7 13.43 10.3 10.4

September 10.5 10.1 11.7 10.0 8.5

October 10.3 9.4 11.1 8.8 7.7

November 10.3 9.6 11.2 9.1

December 11.9 10.4 11.7 9.3

January 11.3 10.1 9.7 9.1

February 12.0 10.8 12.0 9.4

March 13.3 12.1 11.7 11.0

April 11.7 11.3 10.8 9.4

May 12.0 11.7 10.6 9.4

June 10.6 10.9 9.3 9.0

Annual 135.1 127.5 133.7 112.9

(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

18 January 2019

6

8

10

12

14

Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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 July 2017, estimates were revised back to July 2007 due to the removal of the outgoing passenger card. For further information, see ABS, Overseas arrivals and departures, cat. no. 3401.0

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

Border Protection, Migration programme statistics  Tourism Research Australia, International visitor survey

Monthly statistical bulletin

38

7.4 Health—bulk billing and private health insurance

Quarter 2014-15 2015-16 2016-17 2017-18 2018-19

General practice bulk billing rate - per cent (a)

September 84.0 84.6 85.4 85.9 86.1

December 84.2 84.9 85.3 85.7

March 84.0 85.1 85.6 85.8

June 85.1 85.9 86.4 86.8

Annual 83.4 85.1 85.7 86.1

Private health insurance hospital coverage rate - per cent

September 47.3 47.3 46.7 45.8 44.9

December 47.3 47.2 46.5 45.6

March 47.3 47.0 46.3 45.5

June 47.4 46.8 46.0 45.1

(a) Out of hospital services only

Sources:

Department of Health, Medicare statistics online

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

Update

Late February 2019 for bulk billing data

19 February 2019 for private health insurance

42

43

44

45

46

47

48

49

78

80

82

84

86

88

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Per cent Per cent

GP bulk billing rate (left axis)

PHI Hospital Treatment 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 100 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  APRA, Operations of the private health insurers: annual report

Monthly statistical bulletin

39

8.1 Economic growth

S

Quarters (a) (b)

Annual average (c) (d) 2017

Country 2014 2015 2016 2017 Dec Mar Jun Sep

Australia 2.5 2.5 2.6 2.3 2.4 3.0 3.1 2.8

Brazil 0.5 -3.5 -3.5 1.0 2.1 1.3 0.9 1.3

Canada 2.9 1.0 1.4 3.0 3.0 2.3 1.9 2.1

China 7.3 6.9 6.7 6.8 6.8 6.8 6.7 6.5

France 0.9 1.1 1.2 1.8 2.8 2.2 1.7 1.4

Germany 1.9 1.7 1.9 2.2 2.8 2.0 1.9 1.2

Indonesia 7.0 7.6 7.9 6.4 6.9 7.5 7.8 7.2

India 5.0 4.9 5.0 5.1 5.1 5.2 5.2 5.2

Italy 0.1 1.0 0.9 1.5 1.6 1.4 1.2 0.7

Japan 0.4 1.4 0.9 1.7 2.0 1.2 1.4 0.1

Korea 3.3 2.8 2.8 3.1 2.8 2.8 2.8 2.0

New Zealand 3.6 3.5 4.0 2.9 2.9 3.0 3.2 2.6

South Africa 0.7 -2.8 -0.2 .. 1.9 1.4 0.6 0.6

United Kingdom 1.8 1.3 0.6 1.3 1.3 1.3 1.4 1.5

United States 3.1 2.3 1.9 1.7 2.5 2.6 2.9 3.0

G7 average 2.6 2.9 1.5 2.3 2.3 2.1 2.2 2.0

EU average 2.0 2.2 1.4 2.1 2.6 2.3 2.2 1.8

OECD Average 1.8 2.3 2.0 2.4 2.7 2.6 2.5 2.2

(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: OECD iLibrary

.. Not available

Source: OECD

Update

March 2019

(a) Percentage change in gross domestic product at constant prices over corresponding quarter in previous year. Source: OECD iLibrary

2018

0

1

2

3

4

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

Annually (a) (b)

Country 2014 2015 2016 2017 Aug Sep Oct Nov

Australia (c) 2.5 1.5 1.3 1.9 1.9

Brazil 6.3 9.0 8.7 3.4 4.2 4.5 4.6 4.0

Canada 1.9 1.1 1.4 1.6 2.8 2.2 2.4 1.7

China 2.0 1.4 2.0 1.6 2.3 2.5 2.5 2.2

France 0.5 0.0 0.2 1.0 2.3 2.2 2.2 1.9

Germany 0.9 0.2 0.5 1.7 2.0 2.3 2.5 2.3

India 6.4 6.4 3.5 3.8 5.6 5.6 5.2 4.9

Indonesia 6.4 5.9 4.9 2.5 3.2 2.9 3.2 3.2

Italy 0.2 0.0 -0.1 1.2 1.6 1.4 1.6 1.6

Japan 2.8 0.8 -0.1 0.5 1.3 1.2 1.4 0.8

Korea 1.3 0.7 1.0 1.9 1.4 2.1 2.0 2.0

New Zealand (c) 1.2 0.3 0.6 1.9 1.9

Russian Federation 7.8 15.5 7.0 3.7 3.1 3.4 3.5 3.8

South Africa 6.1 4.5 6.6 5.2 4.9 4.8 5.0 5.1

United Kingdom 1.5 0.0 0.7 2.7 2.4 2.2 2.2 2.2

United States 1.6 0.1 1.3 2.1 2.7 2.3 2.5 2.2

G7 1.6 0.2 0.8 1.8 2.4 2.1 2.3 2.0

OECD - Europe 1.3 0.6 0.9 2.5 3.4 4.0 4.1 3.6

OECD - Total 1.7 0.6 1.1 2.3 2.9 2.9 3.1 2.7

(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

February 2019

Months (a) 2018

0

1

2

3

4

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

Annual average (a) (b)

Country 2014 2015 2016 2017 Aug Sep Oct Nov

Australia 6.1 6.1 5.7 5.6 5.3 5.0 5.0 5.1 OECD

Canada 6.9 6.9 7.0 6.3 6.0 5.9 5.8 5.6

France 10.3 10.4 10.1 9.4 9.0 9.0 8.9 8.9

Germany 5.0 4.6 4.1 3.8 3.4 3.4 3.3 3.3

Italy 12.7 11.9 11.7 11.2 10.1 10.4 10.6 10.5

Japan 3.6 3.4 3.1 2.8 2.4 2.3 2.4 2.5

Korea 3.5 3.6 3.7 3.7 4.2 4.0 3.9 3.8

New Zealand (c) 5.4 5.4 5.1 4.7 4.4

United Kingdom 6.1 5.3 4.8 4.4 4.1 4.1

United States 6.2 5.3 4.9 4.4 3.8 3.7 3.8 3.7

EU Average 10.2 9.4 8.6 7.6 6.8 6.7 6.7 6.7

G7 Average 6.4 5.8 5.5 5.0 4.5 4.4 4.5 4.4

OECD Average 7.4 6.8 6.3 5.8 5.3 5.2 5.2 5.2

(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

February 2019

Months (a) (d) 2018

3.0

4.5

6.0

7.5

9.0

10.5

12.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

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

Country 2015 2016 2017 2018 Q1 Q2 Q3 Q4

Australia 2.7 2.3 2.6 2.7 2.8 2.7 2.6 2.6

Canada 1.5 1.3 1.8 2.3 2.2 2.3 2.3 2.3

China 3.4 2.9 3.6 3.6 3.9 3.7 3.6 3.5

Eurozone 1.2 0.9 1.1 1.1 1.1 1.1 1.1 1.2

France 0.8 0.5 0.8 0.8 0.9 0.8 0.7 0.8

Germany 0.5 0.1 0.4 0.4 0.6 0.4 0.3 0.3

India 7.8 7.2 6.7 7.7 7.5 7.7 7.9 7.7

Italy 1.7 1.5 2.1 2.6 2.0 2.2 2.9 3.3

Japan 0.4 0.0 0.1 0.1 0.1 0.0 0.1 0.1

United Kingdom 1.9 1.3 1.2 1.5 1.5 1.5 1.4 1.4

United States 2.1 1.8 2.3 2.9 2.8 2.9 2.9 3.0

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

Source: Oxford Economics

Update

March 2019

Quarters (c)

Annual average (a) (b) 2018

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

0

2

4

6

2014 Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1

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:

Parliamentary Library, Employment statistics: a quick guide

ABS, Characteristics of employment, cat. no. 6333.0

Melbourne Institute, Monthly bulletin of economic trends

Parliamentary Library, Unemployment statistics: a quick guide

ABS, Participation, job search and mobility, cat. no. 6226.0

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

Parliamentary Library, Labour force statistics: a quick guide

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

Parliamentary Library, Youth unemployment statistics: a quick guide

Parliamentary Library, Youth unemployment statistics for small geographic areas: a quick guide

ABS, Education and work, cat. no. 6227.0

ABS, Job vacancies, cat. no. 6354.0

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

ABS, Labour force, detailed, quarterly, cat. no. 6291.0.55.003

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

ABS, Information Paper: Introduction of the 17th 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

Melbourne Institute, Survey of consumer inflationary expectations

ABS, Consumer price index, cat. no. 6401.0

Treasury, Budget papers

Treasury, Mid-year economic and fiscal outlook

OECD, Economic outlook

NAB, Business Research and Insights

Deloitte Access Economics, Business outlook

NAB, Monthly business survey

ABS, Motor vehicle census, cat. no. 9309.0

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

FCAI, Vehicle sales

ABS, Building activity, cat. no. 8752.0

ABS, Construction work done, cat. no. 8755.0

ABS, Engineering construction activity, cat. no. 8762.0

Westpac—Melbourne Institute, Survey of consumer sentiment

RBA, Bulletin

RBA, Financial stability review

RBA, Statement on monetary policy

ABS, Lending finance, cat. no. 5671.0

Housing Industry Association, Affordability Report, Quarterly

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, Regional Population growth, cat. no. 3218.0

ABS, Migration, cat. no. 3412.0

ABS, Births, cat. no. 3301.0

ABS, Deaths, cat. no. 3302.0

ABS, Australian demographic statistics, cat. no. 3101.0

Tourism Research Australia, International visitor survey

APRA, 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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