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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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Latest analysis

Reserve Bank of Australia

Three (blunt) politically relevant messages from the latest RBA Minutes

The latest RBA Minutes contain three unusually clear political messages on interest rates, Australia’s productivity problem and the weakening housing market.

HBF collects almost half of Western Australia's private health insurance premiums

APRA's private health insurance performance data provides premium revenue for individual insurers across each state and territory. Benchmark Analytics calculations show substantial differences in market concentration across Australia. The standout among the larger states is Western Australia, where HBF accounts for 46.7% of private health insurance premium

Five health insurers collect 80% of Australia's private health insurance premiums

APRA's latest private health insurance data provides financial performance information for individual insurers, including premium revenue by state and territory. Summing those state figures shows Australia's 29 private health insurers collected $31.10 billion in health insurance premium revenue in 2024–25. The market is dominated

More issues

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-

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