Amid warnings the global economy is being irreparably damaged, a string of organisations including the AFL, NRL, Village Roadshow and Helloworld announced they were standing down staff or putting them on leave as restrictions aimed at curbing the spread of the coronavirus came into operation.have spoken to senior sources in the banking and the forecasting sectors who said their analysis showed Australia was headed for an unemployment rate of 15 per cent or more. It currently stands at 5.
In the Sydney CBD more than 15,000 hospitality jobs are set to go under the shutdown of pubs and clubs and the implementation of takeaway-only restrictions on cafes and restaurants. A further 11,000 hospitality jobs in the Melbourne CBD are also on the line. The shutdown of non-essential indoor venues is likely to only be the beginning of the economic havoc caused by the virus, as governments consider measures that would effectively close all non-essential businesses including most workplaces.
As a result of Australia's last recession, unemployment among men aged 55 or more peaked at 12.7 per cent. Among men aged between 45 and 54 it reached 7.6 per cent.
swrighteconomy ErykBagshaw Lol explain how a tavern is supposed to keep running if it vlosed by order of the Gov..... not like the customers are not wanting to use them to begin with.
swrighteconomy ErykBagshaw Hang on, aren’t companies being paid well by the taxpayer to KEEP their staff on?
swrighteconomy ErykBagshaw pretty simply & why u make it sound like “companies fault”? Customers don’t spend, company don’t have money, people lost job. And repeat.
swrighteconomy ErykBagshaw Preventable.