- As India's economy progresses towards becoming the world's third largest, and both countries share concerns regarding China's ascent, the relationship between India and Australia continues to strengthen. This reinforced bond brings benefits for both nations, as India gains valuable access for its top graduates to pursue opportunities in Australia, while Australia prospers through enhanced trade, investment, commodity exports, regional security, and stability. Under the Mobility Arrangement for Talented Early Professionals Scheme (MATES), up to 3000 of India's most talented graduates in fields such as AI, IT, mining, and engineering will have the annual opportunity to work and reside in Australia for a period of up to two years. Notably, unlike skilled visas, applicants will not require sponsorship from an employer. At the conclusion of the two-year period, they can choose to apply for a temporary or permanent skilled worker's visa, extending their stay in Australia.
- BHP, the mining company, has admitted to erroneously deducting annual leave from its employees' entitlements for over a decade, resulting in approximately $430 million in back payments to be distributed among 28,500 workers. The issue stemmed from BHP's failure to update its systems adequately, causing a day of annual leave to be incorrectly deducted when a public holiday coincided with extended leave. The underpayment has further exacerbated the ongoing tensions between BHP and the mining unions, who advocate for "same job same pay" legislation, as certain miners receive lower wages compared to those covered by the BHP Mitsubishi Alliance enterprise agreement.
- The Fair Work Commission has approved a 5.75 percent increase in minimum wages for approximately 2.6 million Australians. This decision comes after the Australian Council of Trade Unions advocated for a 7 percent increase to help workers cope with the rising cost of living, while employers called for a more cautious wage rise ranging from 3 to 3.8 percent due to signs of an economic slowdown. The Albanese government informed the commission that a pay rise aligned with inflation for the lowest paid, along with an approximate 4 percent increase for award workers, would still be consistent with its projections for the consumer price index to decrease to 3.25 percent within the next 12 months. The CPI stood at 7 percent in the year leading up to the March quarter and remains stubbornly high at 6.8 percent.
- The scarcity of properties in conjunction with increased migration into Australia continues to contribute to a significant rise in rental prices, increasing by 10 percent over the past year. Moreover, rental listings are on average 38 percent lower than the average of the previous decade. To tackle this housing supply dilemma, influential figures in the industry from Lendlease, Mirvac, Charter Hall along with the CEO of NAB, are urging state and territory governments to take immediate action by simplifying and expediting the approval processes for land development and residential construction. Stating, an improvement in planning systems is essential to address the housing shortage, which is widely recognised as one of the most critical challenges within Australian property.
