Is Australia’s Migration Rate Slowing?

The Australian’s Judith Sloan recently debunked KPMG chief economist Brendan Rynne’s spurious claim that a “short-sighted”, “kneejerk” cut to immigration would damage productivity and the economy. So what are the latest figures telling us? In the Financial Year 2022-23 we saw a record high net overseas migration of 518,000, while the federal government’s latest forecast is for a fall to around 375,000 which by the way would still be the second-highest annual read on record. Such high volumes are driven in part by the student influx post pandemic. Ahead, CBA expects a slowdown rate of population growth. “Using net overseas […]