The Australian Chamber of Commerce and Industry called for a wages freeze while Industrial Relations Minister Christian Porter said the priority should be ensuring Australians remain in jobs. Unions warned a delay in wage rises would hurt the nation's economic recovery.
More than 600,000 people lost their jobs last month according to the Australian Bureau of Statistics, with a record increase in the unemployment rate from 5.2 to 6.2 per cent. The increase was slightly better than economists projected - pointing to a seven to 10 per cent unemployment figure - largely believed to have been buoyed by the government's JobKeeper and JobSeeker schemes. The Reserve Bank governor and Treasury secretary will provide an economic update to the national cabinet today.
Source: News Formal (newsformal.com)
Except for workers earning $200 pre-job keeper now earning $1500 for the same hours. Is this how it works?
The shitkickers getting kicked to the gutter again. How does this lead to any economic recovery? People have less money so they spend less. The start of these fascists taking our work rights ScottyFromMarketing ScottMorrison auspol ausunions
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‘One size fits all approach’ to virus restrictions doesn’t work for rural Australia | Sky News AustraliaMackay Mayor Greg Williamson says “one size clearly doesn’t fit all” when it comes to the treatment of regional communities as opposed to the more densely populated cities. \n\nRural areas across the nation have experienced very few coronavirus cases and yet are being forced to abide by the restrictions implemented in bustling metropolis and suburban townships.\n\nMr Williamson said his region had recorded “four weeks without any new cases”. \n\nRestrictions that exist in Brisbane should not exist in McKay, he told Sky News host Paul Murray.\n\nHe said the health system in McKay now had the ability to contact trace, to test for the coronavirus and activate a rapid response plan.\n\nThe community has processes in place to manage the risk and “needs to go back to work,” he said. \n
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Proposed minimum wage increase ‘unaffordable’ due to pandemic | Sky News AustraliaA proposed increase to the minimum wage “will have to go onto the back-burner for the next 12 months at the very least,” according to 6PR’s Oliver Peterson. \n\nThe Australian is reporting “hundreds of thousands of low paid workers could have wage rises delayed for up to six months after the Fair Work Commission revealed it was looking at deferring minimum wage increases for stressed companies operating under the JobKeeper scheme.\n\nMr Peterson said “the nation simply cannot afford an increase to the minimum wage right now” especially given 'our minimum wage is the highest in the industrial world'. \n\n“Half of the jobs are being entirely funded or propped up by the Federal government with the JobKeeper program” and the government’s priority moving forward is to “create jobs and keep people in work,' he said. \n\nSky News host Peter Gleeson said “there is a very strong move to block pay rises” as Australia experiences “record unemployment” and forecasted “great depression type numbers over the next six months”. \n\nImage: Getty Sky will be thrilled by this Looks like the CV19 plague will be used an excuse for a lot things in the next year or so. Politicians always use distractions of holidays, celebrations, emergencies and the like to push their other agendas along hoping the public will not notice.
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Wages growth will remain static for 'half a decade' | Sky News AustraliaInvestSMART's Evan Lucas says it could be 'half a decade' before Australia sees meaningful rises in wages due to lockdown restrictions creating 'under-utilisation in the market'.\n\nMr Lucas said wage growth slowed to 2.1 per cent but the nation was already experiencing stagnant wage growth when unemployment sat at 5.2 per cent.\n\nWith the expectation labour force figures would reveal a rise in unemployment between 6.5 and 10 per cent, Mr Lucas said 'we're quite static for quite a period of time'.\n\nImage: News Corp Australia They were stagnant before the lockdown, so 'never' is also feasible if we continue as we were. But inflation at an alltime low why would wages increase
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Government working to 'smooth' economic impact of rolling back subsidies | Sky News AustraliaCornerstone Group Senior Director James Cullen says the government’s focus will likely be on how to sustain the economy after rolling back the JobKeeper and JobSeeker schemes at the end of September. \n\nEconomists have predicted Australia’s unemployment rate could reach its highest level since the 1990s, with predictions it could rise from seven to 10 per cent. \n\nMr Cullen told Sky News there would likely be a “investment and demand cliff coming at the end of September quarter” when the JobSeeker amount is pulled back to pre-COVID levels. \n\nHe said the government should be working on providing other stimulus plans to compensate for “demand” left by the wage subsidy plan and to “smooth out that impact of that cliff that’s coming at the end of the September quarter”. \n\n“Managing the outbreak is going to be a continuing pressure on the government but then, in particular, this economy recovery which is not just going to be about today’s data or end of the September quarter, it’s going to be what are the plans to bring the economy back to that proper trend growth between 3 and 4 percent,” he said. \n\nImage: Getty lol fuck Starbucks coffee
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Govt to work 'methodically' through China meat ban | Sky News AustraliaDeputy Prime Minister Michael McCormack says the government will work “methodically” to ensure the China meat ban is worked through. \n\nThe Morrison Government was blindsided on Tuesday after China suspended exports from four Australian abattoirs including three in Queensland and one in New South Wales. \n\nThe suspension comes just days after China threatened to impose 80 per cent tariffs on Australian barley. \n\nMr McCormack told Sky News the government would carefully work out the issue which China claims was due to mislabelling and not linked to Australia’s push for an inquiry into the origins of COVID-19. \n\n“We will work through, with the departments, work through the Trade Minister Simon Birmingham, we will do it methodically, we will do it carefully, and we want to make sure that we can get through this in the right and appropriate way and we will,” he said. \n\n“I think the whole world, China included, wants to see how and why this happened and indeed how and why it spread. And I think those answers are necessary. \n\n“But for Australia of course, $149.7 billion of trade with China, I know trade equals jobs and more trade means more jobs. \n\n“So we want to make sure certainly for our farmers, who have been hard hit by drought, coming out the drought, that there is a better future ahead for them unlike the last three years or in some cases seven years.\n\n“Of course trade with China is important, trade with anywhere is important, so we will be doing our utmost to make sure we go through the proper process to get through this.” Do you mean instead of its usual chaotic approach to foreign affairs driven by Trumps latest Tweets? This will help ! Sell your soul to China ~ Ya, Mate ~ go for it!
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Australia 'caught in US-China crossfire' and 'there will be serious economic implications' | Sky News AustraliaThe Switzer Report founder Peter Switzer says now is the worst time to be caught up in escalating trade tensions with China. \n\n“Once the economy’s back on its feet, that’s when it’s time to get stuck into China, but at the moment we’re vulnerable,” he said. \n\n“Obviously there’s a simmering, potential trade war and it really didn’t start with us, but we’re being caught in the crossfire because we ganged up and supported Trump in asking for an objective inquiry into China’s behavior in relation to the virus. \n\n“Clearly China’s cheesed off in the fact that we’re supporting Donald Trump and there will be serious economic implications.' \n\nMr Switzer told Sky News “this is not the time” because Australia was staring down the possibility of a great depression, which he said the government was so far managing to avoid through stimulus measures. \n Business people should be made to disclose their China exposure before making such comments, my trust is wearing thin. Thx for the obvious advice. You mean at the beginning of a recession- depression were every $ counts. Duh!
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