27 Jul HELLO, DISINFLATION; LET’S RUN THIS UP THE FLAGPOLE
Say hello to disinflation.
This week’s figures from the Australian Bureau of Statistics show that the Consumer Price Index (CPI), rose 6.0 per cent in the year to June 30, compared to a 7.0 per cent increase in the year to the end of the March quarter.
The most significant contributors to the inflation rate? Rents went up by 6.7 per cent rise during the period – and a 7.8 per cent rise in the cost of new dwellings.
But the biggest inflation spike was in the cost of domestic holiday travel and accommodation, which went up by a whopping 13.9 per cent.
LET’S RUN THIS UP THE FLAGPOLE
If you’re meaning to reach out or circle back at some stage today after you’ve done some noodling, be careful you don’t boil the ocean! I mean, is the juice worth the squeeze?
Aaah… office jargon. Where would we be without it? Well, research by LinkedIn and Duolingo has found that professionals around the world believe workplace jargon is being used too much, with 60 per cent of Gen Z and 65 per cent of millennials wanting to reduce or eliminate it. Interestingly, only 23 per cent of Boomers and half of Gen Xers feel the same way.
Writing about the research in the Sydney Morning Herald this week, careers expert Carla Dengate noted the pros and cons of workplace jargon. “On the one hand, jargon can bind you together as a team. It says, ‘I speak the lingo and I belong.’ But if you’re not in the clique, it’s isolating and can feel unfriendly.”
Netflix also announced that the company made a profit of over $1.8 billion during the period, its best second-quarter performance since the depths of the pandemic three years ago.
FUTURE-PROOF YOUR CAREER… WITH A BA
Studying for a Bachelor of Arts is being tipped as one of the best degrees to prepare young people for a future workforce where they’re likely to have up to 17 jobs and seven different careers.
That’s according to research by the University of Queensland, which found that Gen Z and Millennial employees need “a diverse and somewhat universal skill set” to help them cope with changing jobs every three years.
UQ professor Alastair Blanshard told ABC Online university degrees that offer effective communication, such as a Bachelor of Arts, are ideal because they allow graduates can mix and match subjects as well as develop their critical thinking.
“Degrees that offer effective communication are going to be really important,” he said.
THE MIGHTY IMPACT OF MICROBUSINESSES
Australia’s microbusiness sector is booming. It’s become Australia’s fastest growing business sector, increasing by 14 per cent to 2.3 million businesses in the past four years.
Analysis by the McKell Institute and NRMA Insurance shows microbusinesses, which are officially defined as having up to four employees, contribute plenty to the national economy.
Just as importantly, the sector has attracted a rising number of women in recent years, with the number of microbusinesses owned by women rising to over 35 per cent in 2022 from 31 per cent in the early 2000s.
Feel free to share these updates with colleagues or friends. They can sign up here to receive our daily newsletter.