The #Covid19 pandemic has shut down businesses across the country, resulting in a staggering number of Australians being stood down or laid off. The Government estimates that up to 6 million Australians will require some form of assistance. #abc730 @carringtonAU #coronavirus
It is estimated that 1 million Australians have been stood down or lost their jobs due to the pandemic. But some economists think the full impact could be even worse. #abc730 #coronavirus
“We think there's at least 2 million jobs that are directly at risk. These are jobs that are in sectors like retail, in food and beverage service, cafes and restaurants. Also things like gambling, which has been impacted by the shutdowns.” - Carlos Cacho, @UBS economist. #abc730
Caroline Disney was among 200 @TigerairAU pilots who lost their job. “It was literally like having a kick in the guts. It really was, felt quite sick. The timing of it was quite stressful, but also just the devastating loss because I truly love that job.” #abc730 #COVID19Aus
“I just don't know what's going to happen. I'll count myself very fortunate to get any job at all at the end of this because there will be so many of us looking.” - Former @TigerairAU pilot Caroline Disney. #abc730 #COVID19Aus #coronavirusaustralia
“It's certainly a lot worse than the GFC. The GFC only saw unemployment rise 2% from about 4% to 6%. Now we're expecting unemployment to rise from around 5% to around 10% in the next couple of months.” - Carlos Cacho, @UBS economist. #abc730 #COVID19Aus
“You'd have to go back to around the Great Depression to see a similar fall in overall economic activity to the one that we're expecting to see in the coming three to four months.” - Carlos Cacho, @UBS economist. #abc730 #COVID19Aus
After 21 years in business Tracey Flanagan has been forced to shut her jewellery shop and stand down her two staff. “I closed the shop two weeks ago, but I knew for probably two weeks or four weeks before that, that it was inevitable that was going to happen.” #abc730 #COVID19Aus
“The JobKeeper payment is certainly a big step in the right direction. We think it's going to help but we don't think it's going to stop the rise in unemployment completely.” - Carlos Cacho, @UBS economist. #abc730 #COVID19Aus
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