The hit to supply chains and workers from the omicron virus wave will not derail the economy like earlier lockdowns, according to Deloitte Access Economics.
The hit to supply chains and workers from the omicron virus wave will not derail the economy like earlier lockdowns, according to a new report by Deloitte Access Economics.
A row of shuttered and empty shops in Cairns CBD. Deloitte forecasts the economy to grow 4 per cent this year.The firm’s business outlook tips omicron to weigh on business investment due to increased uncertainty and slow the return of foreign students and tourists. “We’re not in the camp that sees current conditions as matching the lockdown pain seen originally in 2020 or with delta in 2021,” Deloitte Access Economics partner Chris Richardson said.“Omicron is awful, but for the first time in the coronavirus crisis it looks as if health and economic outcomes won’t be in exact lockstep with each other.
Job vacancies rose 18.5 per cent to hit a record of 396,100 in the three months to November 30 as employers embarked on a hiring spree at the end of the delta lockdowns in NSW, Victoria and the ACT, theMr Richardson said the employment market was looking good, with a 4.6 per cent unemployment rate as of November 2021.
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