Immigration Scapegoated for Australia's Housing Crisis, But Could Be Part of the Solution

Immigration is often wrongly blamed for Australia's housing crisis rather than decades of failed domestic policy.
Immigrants can help supply housing by bringing in skills like construction that are needed.
Immigration helps fuel economic growth, which raises incomes and living standards.
Without immigration, Australia's aging population will create gaps in the workforce.
Blaming immigration distracts from real solutions like changing zoning laws and investing in affordable housing.

smh.com.au

Relevant topic timeline:

8/20/2023

The end of low unemployment

### Summary The combination of a record pace of immigration and slowing demand is leading to a rise in unemployment and lower wage growth in Australia, due to the Albanese Government's immigration policy. ### Facts - Australia's civilian population aged over 15 years grew by 598,000 in the year to July, or by 2.8%, thanks to the Albanese Government's unprecedented immigration program. - Labor supply growth (via immigration) is now twice as fast as before the pandemic, while labor demand is slowing. - The number of applicants per job is increasing, signaling rising unemployment. - Australia needs to create around 35,000 jobs per month just to maintain the current unemployment rate, which is unlikely given the current policy settings. - Rising unemployment and lower wage growth are expected due to the combination of strong labor supply growth and slowing demand. - The Albanese Government's extreme immigration policy is criticized for undermining working-class Australians while benefiting growth lobby mates.

8/20/2023

The end of low unemployment

Australia's record pace of immigration is outpacing labor demand, leading to a rise in unemployment and lower wage growth.

8/26/2023

The Australian way of life faces extinction

Australia's population growth, driven by high levels of immigration, is leading to a housing crisis, infrastructure shortages, and environmental issues, raising concerns about the country's ability to sustain a quality way of life and achieve climate goals.

9/13/2023

Australian Job Growth May Slow Further Amid Global Economic Headwinds

Australia's labor market may have peaked as the unemployment rate hovers around historic lows, leaving little room for improvement and potentially opening the door for further job losses, which could negatively impact the Australian Dollar (AUD) that has already been weakening due to slowing Chinese demand. Economists expect an increase in jobs for August, but there is potential for a downside surprise and a second consecutive month of declines.

9/16/2023

New study questions economic consensus on immigration

A major paper challenges the notion that higher immigration is always vital for the economy, suggesting that a smaller population could have a higher quality of life and that predictions of dire effects from a shrinking population are implausible. This challenges the long-standing belief that mass immigration always brings economic benefits, highlighting the need for a serious discussion on the topic.

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Posted 9/18/2023, 5:30:00 AM

Immigration Scapegoated for Australia's Housing Crisis, But Could Be Part of the Solution

Immigration is often wrongly blamed for Australia's housing crisis rather than decades of failed domestic policy.
Immigrants can help supply housing by bringing in skills like construction that are needed.
Immigration helps fuel economic growth, which raises incomes and living standards.
Without immigration, Australia's aging population will create gaps in the workforce.
Blaming immigration distracts from real solutions like changing zoning laws and investing in affordable housing.

smh.com.au

Relevant topic timeline:

8/20/2023

The end of low unemployment

8/20/2023

The end of low unemployment

Australia's record pace of immigration is outpacing labor demand, leading to a rise in unemployment and lower wage growth.

8/26/2023

The Australian way of life faces extinction

9/13/2023

Australian Job Growth May Slow Further Amid Global Economic Headwinds

9/16/2023

New study questions economic consensus on immigration