04/02/2021InvestSMART’s Evan Lucas says RBA Governor Phil Lowe was correct in suggesting there will be some “job shedding” around the end of March as employees who have been kept afloat by JobKeeper “finally fall off”.
In a speech to the National Press Club on Wednesday, RBA Governor Phil Lowe insisted the economy was in a good spot but said there may be an issue beyond March when it comes to JobKeeper. “You would expect that those companies that have been on JobKeeper particularly … and get continuously referred to as those ‘zombie companies’, those employees inside of them will probably finally fall off,” Mr Lucas told Sky News.
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:
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.
More than one million on JobKeeper in March quarter | Sky News AustraliaTreasurer Josh Frydenberg has told Sky News 1.3 million Australians will still be on JobKeeper when it wraps up next month.\n\n“You can only go on what treasury had forecast which was around 1.3 million people,” Mr Frydenberg told Sky News.\n\nMr Clennell said the figure is 10 per cent of Australia’s 13 million workers.\n\n“We’ve previously flagged how the government is expected to come up with a stimulus package to replace JobKeeper,” he said.\n\n'Looking at that, they would want to or things could really come off a cliff given the numbers of workers, 10 per cent of Australia’s workers subsidised by government at the moment.”\n JoshFrydenberg JoshFromUnAccountables AGAIN has .... JoshFrydenberg April will be small business Armageddon in Melbourne. JoshFrydenberg Not really stopped then, is it. Not so good with budgets is old mate Josh.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Ending JobKeeper in March 'the right call' | Sky News AustraliaDeloitte Access Economics’ Chris Richardson says terminating JobKeeper at the end of March was the right call as the “red hot” labour market sees jobs return.\n\n“It was a tough call but absolutely the right thing to do,” Mr Richardson told Sky News.\n\n“We had a whole lot of emergency spending to help the economy on the way through, the bulk of that is now in the rear view mirror.”\n\nHe said Australia is the only one of the rich countries that has more jobs today than when the virus first hit.\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Economy on track but JobKeeper end will lead to 'job-shedding' | Sky News AustraliaRBA Governor Philip Lowe says there will inevitably be job-shedding as a result of JobKeeper ending in March, but argued that it was taking place in the context of an economy which was 'recovering'.\n\n'There's quite a lot of job creation going on at the moment. Job ads, job vacancies, and business hiring intentions coming out of the surveys and our own business liaison says that firms want to hire workers,' he said. \n\n'The recovery in aggregate jobs I think will slow temporarily when the JobKeeper program comes to an end.\n\n'The government made it clear this was a temporary program. It's been an incredibly important program. I think it's saved many people their jobs and helped people in their lives. So it's been incredibly important.'\n\nMr Lowe pointed to forecasting the unemployment rate would likely stop falling for a time and could rise for a month or two, but assured given the growth of the economy, the rate would most likely come down.\n\n like to see the smarts in the productivity commission audit the government bond buying section of this independent reserve banker head... Start with the dead people! There is heaps of work especially in Rural Australia
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Mass job losses feared as JobKeeper comes to an end | Sky News AustraliaA study has revealed that 488,000 employees could be let go when JobKeeper ends on Sunday.\n\nThe study, conducted by Small Business Australia, also revealed 149,000 businesses will close indefinitely and 98,000 are expected to close permanently.\n\nAustralian Retailers Association CEO Paul Zahra told Sky News the retail industry itself has fared reasonably well with the exception of a few.\n\nHe said travel retail in particular will struggle when the wage subsidy ends this week.\n\n“Any retailer that’s operated at an airport or a duty-free type location,” Mr Zahra told Sky News.\n\n“All CBD locations – Sydney, Melbourne and Brisbane have all been deeply affected.\n\n“CBDs will be hit hard and mainly small to medium sized businesses.”\n I’m not convinced. But Joshy boy says it's the opposite And? Why must taxpayers continue this racket?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Over 70,000 job losses expected as JobKeeper ends | Sky News AustraliaNearly one million Australians will lose access to the JobKeeper subsidy today when the government's $90 billion support program comes to an end.\n\nNew data reveals thousands of businesses stopped using the financial assistance in February but it's feared up to 150,000 workers around the nation could lose their jobs. \n\nBusinesses in Sydney and Melbourne are set to lay off more than 70,000 workers possibly this week. \n\nTourism, hospitality and the art and entertainment sectors will be most impacted but the Morrison government insists workers won't be abandoned.\n We are the best economy in the world 😉, that's what Joshy said. Even US nd China is below us. Good! Shouldn't be long now hey LittleJoshy and Moronson.. Be all over it like CHRISTENSENonaProstitute
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Virgin CEO Jayne Hrdlicka flags more job cuts at airline if JobKeeper is not extendedVirgin Australia chief executive Jayne Hrdlicka says the airline may be forced to cut more jobs if JobKeeper is not extended beyond March. Already on the ropes. Business are not supposed to work on tax payer handouts, a good CEO will keeps job and the business. Is she saying she cannot manage the business well and using Job keeper as in excuse ? then she must step down.
Source: abcnews - 🏆 5. / 83 Read more »