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News

20 May 2020 - The Real Unemployment Figures

Australia's unemployment figure rose to 6.2% in the latest announcement, with 600,000 jobs lost so far due to the coronavirus shutdown. Despite being the steepest monthly rise on record, according to many experts, the real shape of employment is much worse due to the artificial nature of the JobKeeper package, the record number of underemployed people, and the sharp rise in people not even looking for work. Young people are experiencing even tougher conditions, with the casual workforce, hospitality sector, and gig economy all likely to suffer further in 2020 and beyond. 

20 May 2020 - Commonwealth Bank Release Downturn Scenarios

The economic effects of COVID-19 are starting to filter through to the housing market, with more pronounced effects likely in the weeks and months ahead. The Commonwealth Bank recently published data about the length and extent of the possible downturn, with two different scenarios released. According to the base case and best possible scenario, the Australian property market will fall by 11% and begin its recovery phase in 2021. A more prolonged downturn is also possible, however, with prices possibly falling up to 32% and stagnating for much longer.

15 May 2020 - The Quarantine on Consumption

Coronavirus has changed everything, which gives us a rare opportunity to re-evaluate our existing way of life. Social isolation is the new normal, more people are working from home, and even a trip to the supermarket is a major social outing. When something of this magnitude affects the entire world, there is an opportunity to emerge from the storm with changed habits and different values. A prolonged global recession is almost guaranteed, and some commentators are even looking ahead to an extended "quarantine of consumption".

4 May 2020 - Which Industries are Winning During Isolation

Coronavirus continues to have a devastating impact on industries around the world. Entire sectors are failing, millions of people have lost their jobs, and global governments have unveiled their biggest stimulus packages in history. Amidst all the chaos and destruction, however, some industry sectors are flourishing like never before. From healthcare and logistics to e-commerce and video conferencing, let's take a look at some of the winners from COVID-19.

 

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