March labour force figures to be 'first hard indicator of the economy' | Sky News Australia

Australia News News

March labour force figures to be 'first hard indicator of the economy' | Sky News Australia
Australia Latest News,Australia Headlines
  • 📰 SkyNewsAust
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 78%

Economist Stephen Koukoulas says the March labour force figures will be the 'first hard indicators of the economy' since the coronavirus lockdown.

Economist Stephen Koukoulas says the March labour force figures will be the "first hard indicators of the economy" since the coronavirus lockdown. "It's probably a little too early to see the jump in unemployment. The market is expecting unemployment to go from 5.

1 per cent in February to around 5.5 per cent, so not a dreadful number," Mr Koukoulas said. "But it's got to be remembered that the survey was conducted before we saw those queues around Centrelink... I think the general consensus is expecting the unemployment rate to reach 10 per cent."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SkyNewsAust /  🏆 7. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Border Force commissioner calls for 'hard border' at Australia's ports | Sky News AustraliaBorder Force commissioner calls for 'hard border' at Australia's ports | Sky News AustraliaThe Border Force commissioner is calling for a 'hard border' at Australian ports to prevent further outbreaks of the coronavirus following the Ruby Princess cruise ship fiasco that saw virus-infected passengers released into the community.\n\nMichael Outram said the fiasco highlighted the need for a central point of responsibility to command and navigate decision-making and resources.\n\nAt least 16 passengers from the Ruby Princess have died after contracting the virus on board.\n\nA criminal investigation is ongoing.\n\nImage: News Corp Australia\n\n
Read more »

US economy 'will resume' after public health system is fixed | Sky News AustraliaUS economy 'will resume' after public health system is fixed | Sky News AustraliaRMIT Professor Joe Siracusa says while the United States is experiencing a “terrible situation” amid the COVI-19 pandemic, “it is not as bad as the Great Depression in terms of the economy is not broken, what is broken is the public health system”.\n\nNearly 17 million Americans have applied for unemployment benefits since the outbreak of the coronavirus with one in 10 workers having lost their jobs and trillions of dollars in cash and loans released by the Federal Reserve to try and counter the crisis. \n\nMr Siracusa told Sky News “the economy is frozen because of the health crisis”.\n\n“Once we get past the public health crisis the economy will resume”.\n\nHe said the volatility seen on Wall Street over the past weeks “means all the smart money is staying in near the markets because they know the fundamentals of the American economy, like the economy of Australia is in good shape”.\n\n“Once the public health crisis has blown through town, and it will blow through, it will take tens of thousands of lives and all the rest of it, but all the essentials are in place, so I wouldn’t get too panicky about what is going to happen to the economy,” he said. \n\nImage: AP\n
Read more »

Coronavirus vaccine trial launched in South Australia | Sky News AustraliaCoronavirus vaccine trial launched in South Australia | Sky News AustraliaA landmark coronavirus vaccine trial has been launched in South Australia in a bid to boost immunity against the potentially deadly coronavirus contagion. \n\nMore than 500 state health workers will be given an existing tuberculosis vaccine to see whether an immune system boost could reduce the prevalence or severity of COVID-19.\n\nThe six-month trial will be offered to staff at The Royal Adelaide and Flinders Medical Centre.\n\nHalf of those taking part will be administered the active vaccine while the other half will be given a placebo.\n
Read more »

Over 100 cruise ship passengers will return to Australia infected with COVID-19 | Sky News AustraliaOver 100 cruise ship passengers will return to Australia infected with COVID-19 | Sky News AustraliaMore than 100 Australian and New Zealand citizens rescued from a cruise ship off the coast of Uruguay will soon arrive in Melbourne.\n\n96 Australians and at least 15 Kiwis have been stuck on the Aurora Expeditions ship for more than 2 weeks after travelling to Antarctica on March 15.\n\nThe group is on its way to Melbourne on a chartered flight at the steep cost of $15,000 dollars each and the ship's operator has asked the federal government to help with expenses. \n\nUp to 70 percent of the passengers on board the ship have reportedly contracted the coronavirus.\n\nHealth authorities say they are prepared to handle the influx of cases.\n\nImage: Getty
Read more »

Time to 'bunker down' so Australia isn't 'saddled with debt' | Sky News AustraliaTime to 'bunker down' so Australia isn't 'saddled with debt' | Sky News AustraliaDeputy Prime Minister Michael McCormack says now is the time to “bunker down” amid calls for an expansion of the wage scheme to include big business. \n\nAs it stands, businesses with a turnover of $1 billion or more must estimate a 50 per cent reduction in turnover due to COVID-19 to qualify for the JobKeeper scheme. \n\nSpeaking with Sky News, Mr McCormack conceded the capacity for expansion was there, but he was concerned about “saddling” the nation with unsustainable debt levels. \n\n“We don’t want to saddle ourselves with debt … we have already put in place measures that are going to cost this country a lot for many, many years, but we don’t want to saddle ourselves with debt that we just can’t maintain,” he said. \n\n“We will continue to roll out measures, we have the capacity to do just that (expand JobKeeper) but we also need to bunker down now. “\n\nLast week Treasurer Josh Frydenberg ruled out an increase to the Goods and Services Tax to pay back the some $320 billion in measures. \n\nWhen asked, Mr McCormack was coy on the possibility of GST reform. \n\n“I think the expenditure review committee and the states will have a large say on that,” he said. \n
Read more »



Render Time: 2025-03-25 20:50:14