Economic forecasts predict the unemployment rate to increase from 7.4 per cent to 7.9 per cent over the course of July. The GPT Group reported a loss of close to half a billion dollars in the first half of its financial year after its large retail portfolio was significantly affected by a reduction in foot traffic caused by COVID-19 lockdowns.
Freight company Horizon meanwhile reported the coronavirus had no impact on its business which moves coal and other bulk minerals from inland Australia to the coast for export – recording a full-year profit up almost 30 per cent. AMP Capital’s Shane Oliver said the economic impact of COVID-19 would result in “a big hit to earnings” as a result of the coronavirus shutdowns which will “take earnings growth down to its biggest slump since the GFC”.
Ahem. I think you’ll find that’s ‘labour force’ Labor force is something quite different