00:45‘Nobody is safe’: why Australia’s Covid jobs crisis could last yearsIt is almost 30 years since Australia last slid into recession, a now distant time when no one had heard of the internet and the Property Council had just appointed a young researcher called Scott Morrison. The then treasurer, Paul Keating, famously said it was the “recession we had to have”, but the slump prompted structural reforms and the economic scars were quickly healed as Australia rode the Chinese tiger to unprecedented prosperity. Fast-forward three decades and the path out of recession does not look so simple with unemployment climbing to more than 1 million. One expert says “nobody is safe” from redundancy. The combination of a recession and the coronavirus lockdown laid over the top poses a profound economic challenge for the future labour market:

Source: The Guardian September 04, 2020 23:37 UTC