Population count accelerates
Australia's population increased by +128,670 in the September 2022 quarter, implying an annual pace of around +500,000 per annum.
Source: ABS
The population is growing faster than previously projected, and the population clock as of today was ratcheted higher to 26,385,000.
Indeed, this now implies population growth of faster than one person per minute, which is actually more like an annual population growth of +573,000 per annum.
I guess it will slow down a bit at some point.
The peak of the rush to south-east Queensland passed in the September quarter.
More and more employers are requiring workers back at their desks in Sydney and Melbourne, and with each passing week this trend will continue.
Queensland topped the charts over the year to September 2022, with population growth of +114,400 or 2.2 per cent.
Source: ABS
Sydney and Melbourne will take up the mantle of accounting for the bulk of population growth in 2023 as permanent migration increases.
Record high immigration will take the pressure off the skills shortages this year.
