Job vacancies have suffered their biggest collapse in history
Data from the Australian Bureau of Statistics showed vacancies alone fell by 43% in the three months to May. They are now where they were in 2005.
Particular industries are bearing the brunt of job losses. The manufacturing sector shed 68,300 jobs over the period, taking the number of workers to 852,800, its lowest level in records going back to 1984.
Across the arts and recreation services sector, vacancies collapsed by an unparalleled 95 per cent and employment fell to its lowest level since 2004. Vacancies fell by 68 per cent across the rental and real estate sector and by 66 per cent for accommodation and food services.
Employment increased 24 per cent in the electricity, gas, water and waste services sector, but there was not an increase in hours worked. The ABS attributed this to a change in working arrangements.
Agriculture, forestry and fishing employment increased 9 per cent, and there were increases in the financial and insurance sector (4 per cent) and public administration and safety industry (3 per cent).
The bureau noted a drop in the number of firms in every industry sector reporting job vacancies.
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Even worse than I thought.....
Hands up - who thinks the GST is going up to 15-20% by early next year? I'm raising my hand...it definitely will.......The Wuhan virus will end up costing Australia a couple trillion and the payback has to come from somewhere. I thank China for their virus that ravaged the world.....and I eagerly await a showdown in SCS or Taiwan......And then resultant proof those American SLBM's and ICBM's all work as advertised (they will)_....and the Chinese nukes fall out of the sky - if they get that far - and cook their own.
Just for info sake - Scandinavian countries pay 25% GST.......
There has to be Goods & Services exchanged for a GST to apply.
This wasn't a good time to give the multi-nationals a tax cut.
China has shut up shop ... none of the goods that I've bought these last few months has arrived. If I get something at all, its a $0.20 trinket just to give Payal a shipping number to say something was delivered, so there is no claim for a refund.
SERVICES - that is the Australian part, and the vast majority of our economy now. Or at least it was - before Wuhan virus.
Take your point on Chinese products Marcus....Shops are running out of Chinese supplied goods and online orders are being fobbed off. These are definitely good news stories!.....Add 100% import duty, after tearing up CHAFTA.....and let's see how many Australian manufacturers rise from the ashes......not to mention young Australian business people leaping in....
It is a double edged sword handing out dole money is a good idea if it was well regulated , one of the derros who lives in the caravan park i pass on my way to the beach was off check his bank for his dole money and he was going to work for the day for cash . Morrison has destroyed our economy and ended commuter congestion forever in our major cities, if a half a trillion dollars is not enough money to create a single job in Australia, corrupt building companies and various corporate lowlifes that have never paid their fair share of tax will be the biggest beneficiaries of Sc MOS half a trillion dollar and counting austerity rorts .