On the financial front, Australian businesses have suspended successful employer programs for now while consumers appear happier they can rest in New Zealand rather than worrying about a vaccine launch.
Businesses enjoyed their best performance on record during March, with strong forward orders indicating growing activity in the coming months.
The AAP reports that while the National Australia Bank’s monthly business survey released on Tuesday also showed a decline in confidence, it remained well above average.
“This in combination with a very strong reading for orders ahead suggests continued strength in activity, which is expected to see conditions remain high, even as we pass the end of the job holders program,” the NAB chief economist. Alan Oster the word.
The NAB business conditions index rose eight points to a record 25 index points, while confidence eased three points to an index 15.
The expiration of job holders’ wage subsidies last month has raised concerns about the impact on jobs.
The Ministry of Finance estimates as many as 150,000 people could lose their jobs without subsidies.
ANZ-Roy Morgan’s weekly consumer confidence index also jumped 5.9%, hitting its highest level since September 2019 and topping its long-term average.
“The withdrawal of the Brisbane lockdown and the announcement of a trans-Tasman travel bubble have seen confidence soar,” Australia chief economist ANZ David Plank the word.
“The surge has occurred despite the delay in the launch of the Covid-19 vaccine.”
The confidence survey, conducted over the weekend, will capture last week’s decision by state health authorities to recommend that the AstraZeneca vaccine not be given to people under 50.
This follows the case of blood clots overseas among younger people after getting the vaccine. Two similar cases have been recorded in Australia.
Prime Minister Scott Morrison Since then, the government has announced that it will no longer set targets for the remainder of the vaccine launch, a schedule that has been in tatters.
“Those surveyed seem to ignore concerns about the delay in launching the coronavirus vaccine and the end of JobKeeper’s salary subsidies,” a senior Commonwealth Securities economist. Ryan Felsman the word.
But he hopes that as the government’s household stimulus support wanes, and uncertainty increases around the delayed Covid-19 vaccine launch, the government will announce a number of targeted business policy steps in next month’s budget.
New figures from the Australian Bureau of Statistics show payroll jobs rose 0.8% over the month to March 27, and rose 0.1% in the past two weeks, ahead of job closings.
Over the year, payroll jobs were 1.0% higher than pre-pandemic levels.
The data is a prelude to Thursday’s full labor force report, which economists expect will show employment grew a further 35,000 in March, bringing the unemployment rate down to 5.7% from 5.8%.
The Governor-General of Australia and past and present political leaders were among the first to pay their respects after the news of Prince Philip’s death.
Governor-General David Hurley announces the death of Prince Philip as the Queen’s representative in Australia
General Hurley and the Prime Minister highlight the duke’s relationship with Australia
Former prime minister Tony Abbott said “the world looks a little empty tonight”
The royal family revealed that the Duke of Edinburgh had died peacefully on Thursday morning local time at Windsor Castle.
She has been battling health problems in recent years and was released from hospital for a month on March 16.
As the Queen’s representative in Australia, Governor-General David Hurley declared Prince Philip’s death in a video message a “sad and historic day”.
He described Prince Philip as “a popular, engaged and welcome visitor to our beach”.
“On behalf of the Australian people, I extend our deepest condolences to Your Excellencies and family, the people of the Commonwealth and to all who share this sad news.”
The Department of the Prime Minister and the Cabinet announced that the Australian flag would fly at half-mast on Saturday.
In a statement, Prime Minister Scott Morrison highlighted Prince Philip’s devotion to both the military and the Queen, saying he “embodies a generation we will never see again”.
Both the Governor-General and Mr Morrison mentioned the duke’s strong relationship with Australia, including the fact that he has visited our coast more than 20 times.
He has served as patron or president of nearly 50 organizations in Australia and has strong ties to the Australian Defense Force.
Meanwhile, more than 775,000 young Australians have participated in the Duke of Edinburgh Awards scheme over the past 65 years.
Morrison said Australians send “our deepest love and condolences to His Excellency and all the royal family”.
“The Commonwealth family joins together in sorrow and gratitude for the loss and life of Prince Philip. God bless everyone here in Australia,” he said.
The statement by Opposition Leader Anthony Albanese also underlined that Prince Philip has become “an eternal part of the story of our nation”.
“On behalf of the Australian Labor Party, I extend my condolences to Your Excellency and the royal family,” he said.
Former prime minister Tony Abbott issued a statement saying that the Duke “combines great character with being a devoted aristocrat”.
“The world looks a little empty tonight because Prince Philip has been a part of our lives for so long that it’s hard to understand he’s gone,” he said.
“He served a long period of service and service – for the whole Commonwealth, but especially for the Queen.
“Even as we mourn his death, we must be lifted up by his example.”
In a tweet, former prime minister Julia Gillard said she had “fond memories of spending time with Prince Philip during his visit to Australia at CHOGM time in Perth”.
“On duty, he had a good feeling,” said Gillard.
“Losing him will be a sorrow for the Queen, her family and millions of people around the world.”
In a statement of condolences, former prime minister Kevin Rudd said that from his conversations with Prince Philip, it was clear that he “has deep and deep affection for Australia”.
“It doesn’t matter whether Australian is republican or monarchical, Prince Philip’s passing is a very sad day for the royal family who, like all families, will grieve the loss of their loving husband, father, grandfather and great-grandfather,” she said.
Former prime minister Malcolm Turnbull also added a message of condolences to a message on Twitter.
“Goodbye Prince Philip – always charming to the people of this republic,” he tweeted.
“But never more than in Malta 2015 when he relived his youth with his young wife who was not yet Queen.
“He talks about love, adventure, his eyes sparkle, he’s wasting time. And we can see how he won Elizabeth’s heart.”
Australia needs to manage an increasingly complex relationship with China, even as the government seeks territory to diversify its export market, according to a new report coming out this afternoon.
The Asia Taskforce – which includes the Business Council of Australia and the Asia Society Australia – calls for a target to increase Australian exports to 35% of GDP by 2030 (up from 29% in 2019).
The report said Australian businesses were now “standing at a crossroads”. It says no since the 1970s, when Britain turned to Europe, “have we seen major adjustments in the way we trade and invest in the world”.
The task force, which also includes PwC consultants and the University of Sydney business school, argues that the Covid-19 disruption also presents difficult choices, as “protectionist policies that seemed unthinkable a year ago are starting to retreat”.
Popular support for an open economy cannot be taken for granted. Retreating to old familiar relations in Western markets, falling behind in Asian literacy and failing to build connections with new Asian business partners should not be seen as a serious default option when consumption in Asia is likely to drive future global growth.
The report supports the need to diversify Australia’s export market, but says this does not mean abandoning economic ties with China, its biggest trading partner. It said diversification for Australia meant trade with China would also build other relationships in the region.
The report – entitled Second chance: How the Australian Team can succeed in Asia – said that “learning to direct a more complex relationship with China is imperative and efforts to ensure the two countries engage constructively should be a priority”.
Other recommendations include adopting a “Team Australia” approach to developing new opportunities; play to our strengths by adopting a country sector strategy; rebooting Asian literacy; and championing talent in our Asia-Australia and diaspora communities.
Minister of Trade, And Tehan, is expected to launch the report at an event in Canberra today.
The Greens are once again calling for an independent swift review into vaccine rollouts to identify any issues and restore public confidence.
Senator Rachel Siewert, Greens’ spokesman for health, said in a statement:
With missed targets, persistent problems with vaccine supplies, and problems getting available vaccines to where they are needed, the launch of this vital injection is hardly a believer …
We must not let this turn into a game of accusation and blame between the federal and state governments. This pointless bickering does not inspire confidence in the launch, and can only add further delays to the process.
An urgent, rapid and independent study of the issue of vaccine launches will find fixes to speed up the rollout, convince the public that the process is working as well as possible, and remove politics from the response.
Recap of the lunch news
Just listening? Here’s what you need to know from the last few hours:
Prime Minister of Queensland Annastacia Palaszczuk has called for a national women’s summit to address domestic violence, wage gaps and other gender issues, following the national cabinet’s new “women’s task force” meeting. He has written a letter to Morrison offered to host a summit in Queensland.
Prime Minister of NSW Gladys Berejiklian said the NSW government would set up a vaccination center in Homebush capable of delivering 30,000 doses a week to assist the federal government with vaccine rollouts. It will be operational in a few months.
Matilda mentioned earlier that Queensland Prime Annastacia Palaszczuk announced that she would write to the prime minister and urged her to hold a national women’s summit to address family violence, the salary gap and other gender issues.
He just tweeted a letter he had sent.
No matter how fast Covid-19 spreads Papua New GuineaSave the Children workers on the ground say misinformation is spreading faster, hindering efforts to contain the outbreak.
The NGO is now launching a series of targeted radio advertisements across the country to try to explain exactly how Covid-19 is spreading, and how to reduce the risk of contracting the disease.
Save the Children PNG Country Manager, Gerry Dyer, describing the situation on the ground:
What we see in PNG is a tsunami of misinformation about viruses and vaccines that will cost lives …
People may come across social media posts that contain misinformation, and then repeat it in the real world as an established fact. This is dangerous when accurate information is the key to stopping the spread of viruses …
Radio works well against misinformation because people trust the media and are accessible to remote communities.
Misinformation comes from all directions and spreads faster than the virus itself.
With that, I will leave you for today, but never fear miracles Justine Landis-Hanley is here to guide you through this afternoon’s news.
Okay, so ABC reports Ben McGregorThe state president of the Tasmanian Labor Party and candidate for chair Clark resigned in a text message sent seven years ago. This has not been independently confirmed by Guardian Australia.
McGregor told the ABC that steps to push him out were “selfish” and “tacky”:
Complaints have been made to Labor Party by someone related to two text messages I sent seven years ago.
While it doesn’t state sexual offense or sexual harassment, the goal is very clear.
The complaint appears to be misleading and to arm the currently justified public anger at treating women in this country for selfish, tacky and political purposes.
ABC Hobart reports that the Tasmanian Labor candidate Ben McGregor has withdrawn from his candidacy because of an “inappropriate” text message.
More to come.
Laming will be investigated by the electoral commission on more than 30 Facebook pages
The Australian Electoral Commission has confirmed that it will investigate Members of the Liberal National Parliament Andrew Laming of the more than 30 Facebook pages he operates without disclosing his involvement.
As reported by us on Tuesday, Laming has created dozens of Facebook pages under the guise of community and news groups, including those posing as fake educational institutions.
According to the Australian Electoral Commission, political authorization is required for “information which is a matter of being communicated, or intended to be communicated, for the dominant purpose of influencing the way voters vote in federal elections”:
This includes, but is not limited to, communications that expressly support or oppose a candidate, political party, member or senator.
The disclosure law, which was updated after the 2016 election, also explicitly includes social media posts, which require authorization details either in messages or via a biographical detail page.
Laming is on leave for clinical counseling and empathy after it was revealed he was stalking two Brisbane women online and taking photos of the woman’s butt in her underwear exposed.
You can read Sarah Martin the story breaking news is below:
Brad Hazzard confirmed that the hub will also serve the general population when Australia reaches that stage of launch.
April 6 (UPI) – New Zealand on Tuesday announced it would reopen its border with Australia later this month after closing its border to travel a year ago in a bid to contain the spread of the coronavirus.
Prime Minister of New Zealand Jacinda Ardern announced during Press conference On Tuesday, provisions in both countries to allow quarantine-free travel between them were met and the trans-Tasman travel bubble will open from April 19.
The announcement came hours after the country’s Cabinet was informed that travel would be safe and that the director-general of health rated the risk of transmission between the two countries as low.
“One of the sacrifices that many people have had a very difficult time bearing over the past year is not being able to see friends and family living in Australia,” Ardern said. “Our health response now gives us the opportunity to reconnect with our loved ones as we begin a new chapter in our recovery.”
Travel will not be the same as it was before the pandemic as those who decide to travel will do so under guidance warning that their plans may be disrupted in the event of an outbreak, he said, adding it was still an important “step forward”. and represents what he believes for the first time amid the pandemic that two countries have reopened travel.
Ardern said they now had a warning system in place for Australia, treating the country as if it were New Zealand territory.
Chris Hipkins, that COVID-19 minister of response, the word those who are eligible to travel must not have tested positive for COVID-19 within 14 days of their trip and must not wait for the results.
He also explained that those who wish to travel to one of the countries must take a flight called green flight, which means no passenger on the plane will stay in the other country in the past 14 days unless the country they are departing from.
On arrival, they also need to provide “complete information” about how they can be contacted during their trip, he said.
Scott Morrison, the prime minister of Australia, called the trans-Tasman bubble deal is “extraordinary” because it will mean more jobs for Australians.
That means more planes in the air, it means more jobs on the ground and in the air and for our airlines, he said.
The Australian Airports Association called the bubble “eagerly awaited,” saying it would provide a “much needed boost” to both the aviation and tourism sectors.
“We can expect to see many emotional scenes at our airport in two weeks with lots of family and friends reuniting after not seeing each other for over a year,” said AAA CEO James Goodwin in a statement.
The Australian Accommodation Association has been less overbearing in praising, stating that the bubble is a step in the right direction but of little help to the tourism sector especially hotels and motels as most tourists will be visiting friends and family.
“No doubt this will be a major blow to consumer confidence but it does not remove the need for specific support for our accommodation sector,” said Accommodation Association CEO Dean Long at a statement. “The reality is good news for our travel sector but not very good for tourism.”
After the announcement was made, Tourism New Zealand welcomed Australians back to its borders.
“We can’t wait to see our friends again!” organization tweeted.
Ardern the they spoke with Australia about the bubble in May when New Zealand first reported zero coronavirus cases after implementing strict lockdown measures a month earlier.
New Zealand Ministry of Health has recorded 2,524 cases of COVID-19, including 26 deaths, became a temporary pandemic by the Australian Department of Health the word the country has 29,357 cases including 909 deaths.
You can’t say how fast the Australian economy will recover.
But with the increase in job vacancies, it means there is an increase in demand for labor and unfilled positions, which is a positive sign.
And job vacancies are surging right now.
As of February, there were 289,000 vacancies, up 13 percent in the last three months.
Most of them are in the private sector (260,300) compared to the public sector (28,400).
Ben Udy, economist at Capital Economics, said the “composite” measure of vacancies, in which it combines the number of job vacancies and skilled vacancies with ANZ’s job ad survey, is at its highest since the mining boom in 2011.
“Judging by face value, it implies that the unemployment rate could fall below 5 percent by mid-year,” he wrote in a note to clients last week.
If the unemployment rate drops below 5 percent in the next few months, that would be an amazing result.
But what are the odds?
Uncertainty about the economy
The federal government’s decision to return Job Seeker unemployment payments far below the poverty line for hundreds of thousands of Australians, push them back into poverty, and end last month’s JobKeeper wage subsidies, will have economic and social consequences.
Economists know what that means for poverty in Australia, but they are unsure how that will affect the official unemployment rate.
Last month, Steven Kennedy, secretary of the Federal Department of the Treasury, said the unemployment rate will probably rise slightly in the coming months.
But other economists think there is sufficient momentum in the economy for the unemployment rate to continue to decline from here.
Job vacancies provide clues
They say one piece of evidence is a surge in job vacancies in recent months.
The Bureau of Statistics (ABS) defines “job vacancies” as positions available to be filled immediately for which recruitment action has been taken.
“Recruitment acts” include attempts to fill vacancies by advertising for the position, by notifying the union or employment agency, and by contacting, interviewing or selecting applicants.
If job vacancies increase, there is an increased demand for labor and positions are not filled.
ABS said there was a clear labor shortage in some industries.
“When we asked businesses that were experiencing labor shortages why, more than usual they noted difficulties filling vacancies for lower paying jobs,” said Bjorn Jarvis, head of Labor Statistics at ABS.
There are thousands of vacancies in industries such as accommodation and food service, retail trade, construction, health care and social assistance, according to ABS.
The graph below shows how many vacancies there were in February, by industry.
Figures are in real terms, which means ABS has not adjusted them to take into account seasonality. But they do provide decent guidance on where things are.
If you look at construction, there were 16,600 job openings in the construction industry in February 2020, before the pandemic hit, but that number halved to 8,300 in May 2020 when the lockdown was put in place.
However, the industry has bounced back and there are now 26,700 job vacancies there.
If you look at the last column you will see that most of the job vacancies are in the private sector.
Mr Udy at Capital Economics said recent developments in the labor market had beaten expectations, including the Reserve Bank.
“The RBA predicts unemployment will remain above 6 percent through the end of this year, and is expected to only drop to 5.5 percent by the end of 2022,” he said.
“Even so, the economy still has a long way to go before the RBA is fulfilled.
Governor Lowe gave a speech last month that revealed that the Bank had lowered its forecast for the natural unemployment rate to be consistent with full job, to about 4 percent, putting it in line with our own views.
“While we are more optimistic about the labor market outlook than the RBA, our forecast that the unemployment rate will fall to around 5 percent by the end of 2022 means that full employment is still a long way off.”
So to be clear, Udy thinks the unemployment rate will be around 5 percent by the end of 2022, but he is poised to be surprised at the speed of the economic recovery.
And he said the surge in job vacancies provided evidence that the economy was recovering.
ABS says there is more evidence
ABS said the increase in job openings in February matched other data.
A recent survey of business conditions and sentiment found 13 percent of employers in February reported staff shortages as a significant factor affecting their business.
In the same survey in March, 19 percent of businesses said they hoped to increase staff numbers over the next three months.
For those anticipating an increase in staff, more than half (58 percent) expected the job to be permanent.
However, businesses reported difficulty finding suitable staff.
For employers who said they did not have an adequate number of employees, more than two-thirds (68 percent) said that the main factor affecting employee numbers was the inability to find suitable staff.
That compares to 60 percent in December, so it’s getting worse.
The problem is most acute for large businesses (with 200 or more people working) and medium-sized businesses (with 20 to 199 people working).