If you look at NAB’s SP, earnings and GNP per head, I am Unsure that the views in your first paragraph in truth ever reflected reality of immigration and unemployment IMHO.
if it did, the real rate if unemployment in Australia should have been 2% not 5% in the high immigration years.
The benefits of out of control immigration to employment is economic theory unreflective of any real world evidence IMHO and it appears elitist and corporate attempts to subdue wage growth, cheapen labor and add poor low cost dwelling stock IMHO.
NAB would be better off concentrating on a more sustainable Australia, of higher standard of living, higher growth and GNP per capital, sustainable housing prices and not rely on unsustainable “mock” skilled immigration, foreign student “workers” and family reunion welfare.
A sustained period of zero immigration and net emigration would be great for Australia as GNP for capita has been shocking and terrible for over a decade.
if you look at GNP per capita, Australia has not really done much since the Great Recession, it has never bounced back from 2009. NAB’s SP and prospects reflect that.
NAB Price at posting:
$18.69 Sentiment: Buy Disclosure: Not Held
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