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.
Let’s respect their work and be responsible! Please stay safe and leave others safely.
After seeing the people at Bondi beach last week I felt very sad. Politicians are under stress to protect their country,doctors/nurses are trying best to save lives,Police,cleaners,delivery people all doing their job for every one risking their lives in current situation!
We all should sincerely follow the guidelines and rules so that we can save our people, economy and country. Time to show some real Aussie spirit! If you need to isolate/quarantine please do so. Save ourselves and save the country
‘Senior sources’ = we made this up 👍🏻
If only we had invested in manufacturing instead of cafes, gyms & salons. But we gave that away to China. Now folks are lining up like Venezuela.
Morrison has certainly placed Australia's most generous safety net in place for the unemployed till things get back to normal. Amazing.
Try closer to 20%. This is going to be an economic disaster the likes of which we have not seen. 30 years wiped. The cost of saving lives is going to be a decade of struggle.
That's terrible. Difficult time ahead.
God, please be mercy...
It’s so upsetting😥
Italy are not putting over 60s on ventilators anymore. Their death rate is too high. They are concentrating on people who could possibly make it. If that type of spread is here jobs won't even come back online.
Hope the shut down is worth it.
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