Cutting unemployment benefits by $50 a week will take about $5 billion out of the economy in the coming year. That’s not good news for jobs.
read more Why the JobSeeker ‘rise’ could actually cost 40,000 Australians their jobs
employment
Our economic institutions are forecasting policy failure. Governments will have to spend up big to avoid it.
Australia is in for a long and damaging economic slump, unless governments inject substantially more fiscal stimulus.
Victorians must all share the lockdown load
Victorians in 10 postcodes across Melbourne’s north and west have been ordered back into lockdown. But regaining control of COVID-19 remains the responsibility of all Victorians.
The modest rise in unemployment hides a much grimmer picture
2.7 million people either lost their jobs or lost hours of work in April. The unemployment rate doesn’t capture the scale of COVID’s effect on jobs.
read more The modest rise in unemployment hides a much grimmer picture
Why we won’t know the full effect of COVID-19 on jobs in Australia for at least another month
The March labour force data will report on a jobs market that sadly no longer exists – the Australia before widespread spatial distancing and shutdowns of non-essential businesses.