Editorial: The economic news continues to be grim but there is an encouraging political consensus developing on what policies will be needed to carry Australia through this pandemic crisis
The economic news continues to be grim but there is an encouraging political consensus developing on what policies will be needed to carry Australia through this pandemic crisis.
The bottom line is that even after the end of lockdowns in all states there were still about 660,000 fewer people employed than in February and total hours worked were still about 7 per cent lower.Treasurer Josh Frydenberg said this week the effective unemployment rate is more than 13 per cent.not just in Victoria and NSW but across Australia.
The government has announced previously stimulus measures for home building and the arts and on Thursday afor training and apprenticeships. But Mr Frydenberg has promised to announce a much more significant “second phase of income support” in an economic statement on July 23.
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