The institute has calculated that between 17 and 28 per cent of Australians - 2.2 to 3.6 million people - could be out of work in the coming weeks as a direct result of spatial distancing measures now in place, "if they aren't already"."The Commonwealth Government's new JobKeeper wage subsidy will obscure much of the impact," the institute says in a new report.The institute concedes there is considerable uncertainty around estimates of job losses from COVID-19.
The International Monetary Fund predicts Australian unemployment will average 7.6 per cent this year, but rise to 8.9 per cent in 2021, while confirming this takes into account the JobKeeper package.
Sounds like code for propping up an over-inflated property market
Too late for that MORONS
Whenever the government borrows money the bank simply creates the money through typing numbers on a computer, then we pay back the debt TWICE, first through inflation then through taxes and then some more with interest paid. THE SYSTEM IS BROKEN.
Let me guess The deeply left Grattan Institute? This Keynes knee jerk is the sort of shallow and inaccurate reporting we are used to from them.
Yes just keep throwing the billions at everyone, the more money the better, how could that ever go wrong?
TRANSLATION: We've needlessly taken away your ability to earn an income, due to some boogeyman virus. Now we'll get you completely dependent on the state, meaning you'll comply like good citizens when we start rolling out our Orwellian agenda. While simultaneously killing the AU$
Yes,avoiding this long, deep recession will be hard. But as long as we keep a firm (but soft) grip on it, we could all have a happy ending.