“Australian lightweight champion from lil ol’ Swan Bay”

By Samantha Elley

Maddog boxing’s Sunny McLean has been going from strength to strength this past year, grabbing titles from each of the events he has been fighting in.

Sunny McLean and his coach, Scott Smith, who runs Maddox Boxing, were recently picked to represent Queensland as the fighter and coach team to compete in the national titles in Gosford.

Sunny won all his elimination bouts and beat the NSW champion in the gold medal fight, to become the newly crowned Australian champion in the lightweight division.

They were surprised with a visit from Jason and Andrew Moloney, world champion professional boxers.

“Every state in Australia was there with all the best fighters and the (Moloney brothers) came to support us, so we felt so special,” said Scott.

“They came to help me prepare Sunny for his last two fights in this event.”

Sunny was competing for Queensland as he already holds the title of QLD/NSW interstate champion.

“His first opponent, the referee stopped the fight in the 3rd round,” said Scott.

“His second opponent was the favourite from Tasmania and Sunny won that fight to go through for the gold medal against the NSW champion.

“Andy (co-trainer) and I worked out a plan to beat him and Sunny did exactly what he was asked and never last control of the situation.

“He is now the Australian lightweight champion from lil ol Swan Bay.”

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Investments That Have Outpaced Inflation

With high living costs dominating recent headlines, investors are seeking asset classes that can not only weather inflation but provide returns that outpace it. Inflation is a critical factor in the Reserve Bank of Australia’s (RBA) cash rate decisions, which has many Australians on edge, particularly those concerned about rising home loan interest rates.

Historically, inflation in Australia has hovered around the RBA’s target range of 2%-3%, but the landscape changed dramatically with the COVID pandemic. Inflation surged to 7.8% in late 2022 and, while it has since eased to 3.8%, its impact remains a key concern for investors.

The Erosion of Personal Wealth by Inflation

Inflation can erode personal wealth by diminishing the purchasing power of money. For example, if you had $10,000 in a savings account at the start of 2022, it would still be $10,000 at the end of the year, but inflation of 7.8% would have reduced the value of that money in terms of what it could buy. This demonstrates how unchecked inflation can undermine financial stability and the quality of life for Australians.

Assets That Have Outpaced Inflation

To protect against inflation, investors often turn to growth assets, which have historically increased in value over time.

Research by InvestSMART has identified several asset classes that have significantly outpaced inflation over the 12 months to 30 June 2024:

• International shares: Returned 19.92%, outpacing inflation by 16.12%.
• Australian shares: Returned 12.1%, beating inflation by 8.3%.
• Listed property trusts (REITs): Achieved an impressive return of 23.79%, eclipsing inflation by 19.99%.

By contrast, savings accounts typically returned 4.5% over the same period, which, after accounting for inflation, results in a much lower 0.7% return.

ETFs: A Simple Option to Beat Inflation

For investors looking to outpace inflation without the complexity of selecting individual stocks, exchange-traded funds (ETFs) offer a diversified and accessible solution. ETFs track major asset classes and have consistently delivered near double-digit returns, beating inflation.

While growth assets like shares can come with higher risks, ETFs provide a straightforward way to gain exposure to these assets without needing to analyse individual companies. Diversification is key, and the longer you stay invested, the better your chances of riding out market volatility, benefiting from compounding returns, and staying ahead of inflation.

The Importance of Beating Inflation

With inflation eating away at savings and wealth, and most Australians not seeing wage increases that match the cost of living, investing in assets that outpace inflation remains one of the most effective strategies for maintaining and growing wealth. Whether through international shares, Australian equities, REITs, or ETFs, a diversified investment portfolio is crucial in navigating the current economic climate.

As always, consider your investment timeframe and risk tolerance before deciding where to invest. The more you diversify and the longer you stay invested, the more likely you are to grow your wealth and beat inflation.

Award-Winning Digital Program Streamlines Export Processes for Australian Farmers

By Ian Roberts

The Department of Agriculture, Fisheries and Forestry has been recognized with a prestigious Good Design Award for its innovative efforts in simplifying export processes through the Digital Services to Take Farmers to Market program. This initiative has been lauded for improving the administration of tariff rate quotas, offering significant benefits to exporters.

Deputy Secretary for Trade and Regulation, Tina Hutchison, highlighted the program’s role in enhancing access to quotas that reduce tariffs under international trade agreements.

“The new streamlined administration is already making it easier for exporters to get their products into overseas markets,” Ms. Hutchison said. “By using evidence-based, design-led approaches, our project teams are delivering an export service that reduces bureaucratic hurdles and supports the growth of Australian businesses.”

The award-winning solution was recognized for its effective design strategy, which improves the timeliness and transparency of tariff rate quota administration, making the export process smoother for businesses.

“These innovative design solutions are crucial for helping the agriculture sector achieve its goal of becoming a $100 billion industry by 2030,” Ms. Hutchison added. “Looking ahead, we plan to expand the system with features like a self-service option to view quota balances through our online digital export service.”

The Good Design Award judges praised the department for its inclusive approach, ensuring the service catered to a wide audience and led to more efficient service delivery for exporters.

For more details on the award, visit: Good Design Award. To access the export service, visit: Export Service.

Australia’s August Unemployment Drops to 9.1% with Part-Time Job Surge

In August 2024, Australia’s ‘real’ unemployment rate decreased by 1%, dropping to 9.1% of the workforce, following a significant rise in part-time employment. The unemployment count fell by 174,000 to 1,423,000. This reduction was driven by an increase of 136,000 part-time jobs, bringing total part-time employment to 4,901,000, while full-time employment remained steady at 9,387,000.

Overall employment rose by 133,000 to 14,288,000 in August, reflecting growth in part-time jobs. Fewer Australians were looking for both full-time and part-time work, contributing to the decline in unemployment.

Roy Morgan Unemployment & Under-employment (2019-2024)
Source: Roy Morgan Single Source January 2019 – August 2024. Average monthly interviews 5,000.
Note: Roy Morgan unemployment estimates are actual data while the ABS estimates are seasonally adjusted.

Labour Market Trends

Roy Morgan’s unemployment estimates, based on a national survey of Australians aged 14 and above, classified anyone seeking work as unemployed. The ‘real’ unemployment rate is calculated as a percentage of the total workforce, both employed and unemployed.

Despite the improvement in employment figures, the combined unemployment and under-employment rate still stands at 18.6%, affecting 2.92 million Australians. The under-employed, those working part-time but seeking more work, represented 9.5% of the workforce.

Michele Levine, CEO of Roy Morgan, highlighted that the surge in part-time jobs drove the drop in unemployment, while the rapidly growing workforce—up by 377,000 over the past year—has been a key factor in the country’s employment growth.

The ABS comparison puts Roy Morgan’s 9.1% unemployment figure well above the ABS estimate of 4.2% for July. However, when combined with under-employment, the ABS figure reaches a comparable 10.5%.

Roy Morgan Unemployed and ‘Under-employed’* Estimates

Impact and Challenges

While the job market has made strides in absorbing the growing workforce, the high level of labour under-utilisation remains a challenge. Addressing the persistent issue of unemployment and under-employment will continue to be a priority for the Australian government.

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ITECA Releases Its Student-Centric Blueprint For The Next Australian Parliament

The Independent Tertiary Education Council Australia (ITECA) has unveiled a policy reform agenda aimed at putting students at the forefront of skills training and higher education in the lead-up to the next federal election. The blueprint, described as student-centric, challenges the current institution-focused policies, which ITECA argues are failing students, businesses, taxpayers, and the nation.

Key Points:

• Call for Reform: ITECA criticises the current government’s preference for public institutions like TAFE colleges and universities, which they believe creates significant barriers to accessing quality tertiary education. They argue that this approach disproportionately affects students who choose independent Registered Training Organisations (RTOs) or higher education institutions, leaving them without sufficient government support.
• Student-Centric Focus: The manifesto emphasises the need for reforms that prioritise students’ needs and choices, advocating for a system that allows students to select the provider—whether independent or public—that best aligns with their personal and professional goals.
• Equity and Access: ITECA’s blueprint calls for eliminating discrimination against students who choose independent RTOs or higher education providers. The organisation believes that government policies should ensure a fair and equitable playing field for all tertiary education providers, supporting students’ informed decisions.
• Advocacy and Vision: ITECA’s approach is driven by its members, who are committed to advocating for a tertiary education system that better supports students and creates a more balanced and fair educational landscape.

ITECA’s election manifesto is part of their broader vision for a student-focused tertiary education system in Australia.

For more details on the manifesto and ITECA’s policy recommendations, you can visit their website here.

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