with warnings it could take years for the nation to fully recover the financial losses.
More than 60 per cent with a job who suffered a drop in hours said it was due to a reduction the amount of work available because of the coronavirus, while more than one in six said they had been stood down by their employer.There was some compensation with 12 per cent of the working population - or close to 1.6 million - getting an increase in their hours.. Based on the survey, the jobless rate in April could be well above 7 per cent.
The agency's Asia-Pacific chief economist, Shaun Roache, said Australia was one of the most exposed countries in the region because of the high debt levels carried by households and the structure of the jobs market. The threat posed by lower household spending was also evident in figures from the ANZ which tracked spending through its debit and credit card network and found expenditure in the past week was at its lowest annual rate since the bushfire season.
Robotics are the future so this will be the new norm with amount of jobs and hours lost
China can't wait to come in and save the day
That’s an entirely false counter-factual. How many jobs would have been lost if the virus had been allowed to spread throughout the population?
A that’s an entirely false counter-factual. How many jobs would have been lost if the virus had been allowed to spread throughout the population?
My wife has never been so busy cleaning all the germs in her work. she comes home very tired.
Which is why the gig economy, casualisation of the workforce and the promotion of basic housing provision as a wealth strategy is bullshit. These things leave nothing in the tank for emergencies. Now we set writ large what many go through on a day to day basis.
openaustralianow
Can we now get the USA troops out of our country? DeptDefence . Clearly Trump can't be trusted. He down played the virus for at least 7 weeks. Why should we include the USA in the 5 eyes when Trump is such a liar? nzlabour BorisJohnson Canada ? AusFedPolice USA Fk OFF.