Unemployment in Australia is expected to reach the highest level since 1932. Analysts are saying that 2 million people, who are roughly 15%, will more likely be unemployed due to the COVID 19 outbreak and shutdown.
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Unemployment Statistics in Australia
COVID 19 will surely bring the world to its knees. Unemployment in Australia will more likely precede that of 1932 great depression.
Analysts have also predicted a global economic decline that the world will probably not recover from easily. The current unemployment rate in Australia is at 5.1% but analysts expect it to triple or even quadruple by the end of the pandemic.
Provinces Affected By Unemployment in Australia
Looks like the Central Business Districts are the ones that are going to be mainly affected by unemployment in Australia. And most of the victims are from the hospitality department which covers 10 % of the population.
For example, in the
Sydney CBD – there are over 15 000 people to be laid off after the shutdown of non-essential services.
Melbourne CBD- the city has about 11 000 likely to face unemployment in Australia.
The Sydney Suburbs- over 8 000 people will likely face unemployment in Sydney suburbs.
Melbourne Suburbs- over 9 000 people on hospitality jobs will face unemployment in Melbourne.
Non- Essential Services in Australia.
Quite a number of businesses are falling in the non-essential department. People employed in the following sectors are facing unemployment.
- Pub, Clubs and Bars
- Indoor sporting activities
- Entertainment (including Casinos, cinemas)
- Food places
- Churches and other religious gatherings.
Hence, all the people working in this area are currently not going to work. And some of them are likely not to get any income as well since there will be no production.
Government to Bring Incentive to Help the Unemployed Masses
In this crisis, the Australian government has decided to pay the jobless masses. Which is reasonable in this case considering people still need to eat and survive.
The government will give its citizens $750 on March 31. After, they will be getting a fortnight payment of $550.
Conclusion
The COVID 19 virus can leave you jobless but what is important is that you stay alive. Self-quarantine and practise self-hygiene when you go to public places.
Unemployment Rate FAQS
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