Just released ABS data show Net Overseas Migration in 2012 was 235,000 persons -- a record high level, and representing 60% of Australia's population growth of 1.8%.
While I am generally a supporter of a robust immigration program, there are a couple of reasons to believe these levels are excessive:
- Because economic growth is still subdued, such high immigration is not good for unemployment and has a suppressive effect on real wages.
- Population growth of 1.8% would mean our population would double by 2051 to 46 million, which is 10 million more than even the "Big Australia" that was talked about a few years ago
What do you think?