Australian Politics

In fact, virtually all significant economic indicators except gross domestic product (GDP) growth show Australia’s economy is among the world’s best-performed.

• record employment growth;
• record employment to population ratio at 64.6%;
• record job participation at 67.3%;
• inflation in the lower half of the RBA’s optimum band;
• wages growth above inflation for five straight quarters;
• median wealth per adult as the second highest in the world;
• ASX200 above 8,000 since last September;
• poverty and homelessness reducing, according to the Productivity Commission;
• emergency calls to the National Debt Helpline declining,
• record high new car sales in 2024;
• record sales of new private aircraft;
• overseas trips in 2024 at a new record high of 11.6 million;
• enrolments in fee-paying private schools at an all-time high;
• record manufacturing gross profits last financial year (2023-24) at $47.4 billion;
• record construction profits last year, at $31.1 billion;
• record profits in several other sectors;
• household spending at a record high.