Australian Workers Suffer as Population Explodes

Australian Workers Suffer as Population Explodes

Australian Workers Suffer as Population Explodes

Australia’s population will hit a record 25 million on Tuesday, almost a decade earlier than forecast projected, as the country’s politicians flood the nation with hundreds of thousands of immigrants each year, according to latest government data.

The Australian Bureau of Statistics estimates the population will reach 26 million in three years’ time, based on current trends. The rapid increase in immigrant numbers has sparked a debate on the economic and social impact of migration given inadequate infrastructure has resulted in clogged cities while an expanding labor market has capped wage growth.

While the artificially high minimum wage looks attractive it is in fact hardly enough for the average worker to live, save or support a family. Taxation has stripped workers of real wage growth, spiraling energy costs, public transport cost and the detrimental flow on of mass immigration and the load that has placed on the Social Security system is a cycle the Australian worker can not escape.

The Lucky Country is now lucky for a few protected species, the 4 big banks and Australia’s mining giants are safe as are the utilities and of course public servants.

Government is now so big it swallows all other industry in Australia

In June 2017 there were 1,956,800 public sector employees. There were 239,800 employees in Commonwealth government, 1,527,600 in state government and 189,500 in local government, that is out of a total workforce of about 12.5m. 1 in 6 people now work for the Government. If you include Social Security recipients you reach a staggering 1 person employed who’s taxes pay for another person.

And the bad news continues, Australia’s government debt has risen faster since the global financial crisis than the debt of almost any other country, International Monetary Fund figures show.

“Wage growth remains subdued and is forecast to increase gradually,” the RBA said in a recent statement. But until this week it didn’t suggest just quite how gradually that might be.

A major new speech by one of the RBA’s top officials has shed far more light on the topic, appearing to suggest wages growth might not show up until 2020, with the exception of a few “pockets”.

The lack of real wage growth is the flow on effect of the inefficacy and massive size of Government, excess immigration, excess legislation and an out an out war on small business. Australia needs a political revolution.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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