{"id":9832,"date":"2024-02-22T10:00:19","date_gmt":"2024-02-21T23:00:19","guid":{"rendered":"https:\/\/astrolabeacc.com.au\/?p=9832"},"modified":"2024-02-22T11:13:21","modified_gmt":"2024-02-22T00:13:21","slug":"business-update-22-february-2024","status":"publish","type":"post","link":"https:\/\/astrolabeacc.com.au\/business-update-22-february-2024\/","title":{"rendered":"Business Update \u2013 22 February 2024"},"content":{"rendered":"
\"Business<\/a>
Photo By Wir Sind Klein<\/figcaption><\/figure>\n

Getting caught up on a week that got away? Here\u2019s your Weekly Digest of some stories relevant to business and the economy.<\/p>\n

Big reason interest rates will be cut \u2013 and soon<\/h2>\n

Rate cuts aren\u2019t forecast until December 2024 but this prediction doesn\u2019t tell the full story of what\u2019s happening in Australia<\/a>.<\/p>\n

Australia\u2019s economy likely to slow until stage-three tax cuts, lower interest rates and easing inflation kick in, CBA says<\/h2>\n

The economy is likely to slow until about the middle of 2024 until a combination of tax cuts, interest rate cuts and easing inflation begin to lift spending, according to Commonwealth Bank\u2019s chief economist<\/a>.<\/p>\n

Australia\u2019s unemployment rate hits two-year high of 4.1% as higher interest rates bite<\/h2>\n

Australia\u2019s jobless rate jumped to a two-year high<\/a> in January as employers barely added any jobs and more people started to look for work. The result, which is slightly above economists\u2019 expectations, follows months of volatile labour market figures.<\/p>\n

The outlook for inflation and employment<\/h2>\n

Reserve Bank of Australia\u2019s Head of Economic Analysis Department, Marin Kohler, discussed the economic outlook<\/a> in a recent speech.<\/p>\n

Emissions measures would be first to face chop if economy weakens, say business<\/h2>\n

Nearly half of Australian businesses expect to reduce investment in cutting greenhouse gas emissions<\/a> if economic conditions get worse, a survey shows.<\/p>\n

Slowing business activity means Aussies will find it harder to land a job in coming months<\/h2>\n

Economists say<\/a> the employment market has turned and it\u2019s going to be harder to land a job during the next six months as the economy slows.<\/p>\n

Super fees are not coming down like they were supposed to<\/h2>\n

The biggest industry superannuation funds are spending nearly 20 per cent more on administration costs<\/a> than they were three years ago. This has dashed hopes that rapid growth and industry mergers would result in efficiencies that would be passed on to customers.<\/p>\n

Why the beloved beetroot is missing from your supermarket shelves<\/h2>\n
Australia is grappling with a beetroot shortage, leaving supermarket shelves bare and consumers struggling to find the beloved vegetable.\u00a0<\/span>The shortage started a year ago when Cyclone Gabrielle<\/a> hit Golden Circle\u2019s beetroot farms in Hawke\u2019s Bay, New Zealand, a key supplier to Australia.<\/span><\/div>\n

RBA governor Michele Bullock says record interest rate rise decision was not a mistake, warns of \u2018persistent\u2019 inflation<\/h2>\n
\n
\n
\n

Reserve Bank of Australia boss Michele Bullock has defended the bank\u2019s decision to lift interest rates<\/a> to their highest levels since 2011. She offered a cautious outlook for mortgage holders, warning that inflation still remained \u201cpersistent\u201d.<\/p>\n<\/article>\n<\/div>\n<\/div>\n

Get in touch<\/h2>\n

Contact us<\/a> if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"excerpt":{"rendered":"

Getting caught up on a week that got away? Here\u2019s your Weekly Digest of some stories relevant to business and the economy. Big reason interest rates will be cut \u2013 and soon Rate cuts aren\u2019t forecast until December 2024 but this prediction doesn\u2019t tell the full story of what\u2019s happening in Australia. Australia\u2019s economy likely … Continued<\/a><\/p>\n","protected":false},"author":11,"featured_media":9838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nBusiness Update \u2013 22 February 2024 - Astrolabe Accountancy Pty Ltd<\/title>\n<meta name=\"description\" content=\"Getting caught up on a week that got away? 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