Unemployment goes down… Yay!? Sorry could you repeat that, did the ABS just say unemployment has decreased? Believe it or not, the ABS figures for national unemployment levels in August saw a fall from 7.5% to 6.8%. The result is a good start but certainly not one to celebrate, considering that unemployment at pre-covid levels …
Officially in a recession Talk about finally saying what everyone was thinking! As of last week, data from the Australian Bureau of Statistics (ABS) revealed that in the three months between April and June, the economy suffered a contraction in GDP of 7%. This consequently translates to the largest quarterly fall in GDP since the …
Are you root 2? Because you make me irrational!!! Almost as irrational as the popping off of property prices before falling back in line. Similar to what Australia experienced back in the early 2000’s. But… we’re still waiting for prices to fully ‘fall back in line’. The real estate bubble refers to the economic theory …
Did somebody say tax cuts?! Earlier this week, the NSW government has announced big slashes to land tax as part of the state-wide coronavirus recovery plan. In reflection of the recent investment hesitation that still remains rampant, State Treasurer Dominic Perrottet announced that the government will tender a 50 per cent cutback in land tax …
JobKeeper has kept thousands of business afloat and workers employed… The introduction of a wage subsidy program has allowed businesses heavily impacted by the Coronavirus to cover costs of employee wages, which has served to halt spiralling unemployment figures. Particularly, payroll data shows that in the time JobKeeper was implemented, job losses have slowed down …
“…national debt has been quickly piling up. The government might have more wriggle room for stimulus than it likes to admit.” – Alan Kohler How does $750 bn of debt sound…? Adding to Australia’s $700 bn debt, the government has taken an additional $50bn loan by selling government bonds. More and more of these borrowed …
Generation Zest We are in limbo. We have one foot swamped in a remote-educational wasteland, the other sinking in financial uncertainty. We hesitate to take a step forward in the dark, where prospects of employment wilt in the hands of a rapidly withdrawing economy. This is the current reality for many young people who often …
How is our economy supposed to survive a second wave, when the impacts of the first one are still surging? The unemployment rate escalated to an unfortunate high at 7.4%, the highest it has been in over two decades. Gear up, for experts say 95,000 NSW jobs could be hit by a second lockdown.
Ahh yes, a timeless debate. To stimulate the COVID-impacted economy, ScoMo flexes the big bucks in the form of multiple stimulus packages. Inspired by the state of our current economy, to what extent will these transfer payments strengthen Australia’s social security? What’s stopping us from getting more?
Banks offer comfort ahead of the highly feared September welfare cut off. September has been viewed as a potential “economic cliff” for Australia, with JobKeeper, JobSeeker and a range of other welfare payments to be shut down or significantly reduced. The loan deferral program was also meant to cease in September, however the banks have …
