Working on our confidence
Australia’s unemployment rate fell 0.2% to 5.6% in March with an additional 70,700 people finding work in the month. That’s taken the number of people with a job to a record 13.08 million. But there’s one caveat: yesterday’s figures didn’t take into account the end of the JobKeeper wage subsidy, which wrapped up at the end of March. That’s expected to result in significant job losses that will start to be reflected in April’s numbers. Treasurer Josh Frydenberg said Australia’s economic recovery was gaining momentum with consumer confidence at an 11-year high. And the business sector yesterday hailed our “miraculous” jobs recovery given the COVID shock. Virgin Australia is one that said it is hiring again and expects to be at 80% of its domestic capacity by mid-June. Also on a hiring spree is pizza giant Domino’s after the pandemic saw its home delivery service spike. Mmm pizza…
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