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Benchmark Analytics

Independent economic and financial services analysis

Rigorous data and evidence-based analysis for government relations, corporate affairs, financial institutions, journalism and public policy.

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Banking Payments Superannuation Insurance

Latest analysis

Australian households - second most indebted in the world

The Bank for International Settlements (BIS) provides internationally comparable data on household credit, debt servicing and residential property prices. Together, the three measures provide a useful picture of both household debt and the value of the housing assets sitting behind it. At the end of 2025, Australian household debt was

Australia has more workers, but barely more work

The ABS Labour Force Survey shows employment fell by 15,800 people in July, while the unemployment rate increased to 4.5%. Monthly hours worked fell more sharply, down 0.6%. The more revealing figures, however, are over the past year. Australia has 191,900 more employed people than in

Wages & Inflation

Canberra workers among the few to beat inflation

The ABS Wage Price Index measures changes in wage rates for a fixed basket of jobs, unaffected by changes in employment composition, hours worked or employee characteristics. In addition to a national figure, the ABS breaks down wage changes by state and territory and by industry sector. To calculate industry-

More issues

Wage numbers released - two ugly statistics for the Government

The ABS Wage Price Index rose 0.8 per cent in the June quarter 2026 and 3.2 per cent over the year. Over the last year, however, inflation has increased by 3.9%, so real wages have fallen. In fact, workers have still not recovered the loss in real

Scary - absolute decline in number of businesses that employ people

The ABS Counts of Australian Businesses publication measures the stock of actively trading businesses in Australia, together with business entries, exits and survival. The latest release, published on 18 August, covers the four financial years from July 2022 to June 2026. The figures are drawn from the ABS Business Register,

NAB reveals a NIM 26 basis points below CBA

NAB's latest trading update highlights one of the clearest differences in profitability between Australia's major banks: its net interest margin is materially below CBA's. Net interest margin (NIM) measures the difference between the interest a bank earns on loans and other interest-earning assets

Henry Tax Review - Revisited

The Henry Tax Review, formally known as Australia’s Future Tax System Review, was commissioned by the Rudd Government in 2008 and delivered its final report in December 2009. Led by Treasury Secretary Ken Henry, it made 138 recommendations aimed at creating a simpler, more efficient and more sustainable tax

Housing Lending

Home loan data - mixed picture post abolition of negative gearing

The Australian Bureau of Statistics has reported that the number of new home loans fell 5.4% in the June quarter, to 134,225. The value of new lending fell 5.2%, or $5.4 billion, following a 3.4% decline in the March quarter. Investors led the quarterly retreat.

New industry pay data gives some insight into pay gap between men and women

The ABS's May 2026 Average Weekly Earnings release put the headline gender pay gap in full-time ordinary time earnings at 11.3%, its lowest recorded level, down marginally from 11.5% in November 2025. Full-time adult ordinary time earnings reached $2,083.70 in May, with

How bad is the US fiscal position?

In assessing the fiscal position of the US Federal Government, total government revenue provides a useful benchmark for assessing vulnerability because it measures the government’s own capacity to fund its commitments on current tax settings. The latest data are striking. In Q1 2026, federal outlays (total government spending and