Treasurer Josh Frydenberg says we can see "the jobs are coming back" and "the unemployment rate is coming down" noting "the strength and resilience" of the labour market has very much "surprised on the upside". "Making forecasts in the middle of a pandemic is difficult...
but the reality is the strength and resilience of the labour market has very much surprised on the upside," he said. "In the six weeks following the end of JobKeeper, 132,000 people have come off income support. It's been a remarkable story to tell about how the unemployment rate today has fallen to 5.5 per cent, the underemployment rate is now the lowest in seven years; the youth unemployment rate is the lowest in 12 years.
Lauding an unemployment rate is lunacy when it's a result of a lower participation rate masking a huge loss of jobs and slump in hours worked.
'Treasurer Josh Frydenberg says ... '
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Victorian debt forecast plummets due to thriving property market | Sky News AustraliaVictorian Treasurer Tim Pallas has promised a path back to surplus as he prepares to reveal the state's post-pandemic budget. \n\nHe has predicted smaller deficits over the next four years following the federal government's big spending response.\n\nThe improvement to the state’s balance sheet has been credited in part to the red-hot property market, higher than anticipated GST revenue\n\ngovernment plans to forge ahead with plans to raise $2.4 billion in land taxes.\n\nThe proposal would see stamp duty increase by one per cent for properties which sell for more than $2 million. \n\nMr Pallas says the initiative is a chance for those who have done well to help those who have not during the pandemic. \n\nPrime Minister Scott Morrison has criticised the tax plan expressing concerns it could slow economic growth. \n timpallas Create problem / use hardworking law-abiding taxpayers money to fix problem whilst our GLOBALIST GOVERNMENTS on both sides of politics have sold our basic human rights for the almighty $$ ! We all now this was never about our health so hopefully jail time coming soon. LoL timpallas It is sad that Labor has given up protecting the poor and ordinary workers. They could have taxed those who profited from the pandemic but no, chose to go after demographics that can't fight back.
Source: SkyNewsAust - 🏆 7. / 78 Read more »