Pages tagged "Portfolio Media"


More jobs gone for Victorians

The Australian Bureau of Statistics’ labour force release shows 132,200 fewer Victorians were employed from March to April as the COVID-19 lockdown wreaked havoc on Victorian jobs.

More than 117,000 of Victorians losing employment were reported within greater Melbourne, with the Melbourne’s South-East (down 25,300), North-East (down 22,600) and West (down 17,300) experiencing the largest share of these losses.

The labour force has shrunk in both greater Melbourne and country Victoria. Every region except a minor increase on the South West Coast has seen its labour force shrink.

Of particular concern, 6,100 people in the Latrobe Gippsland region left the workforce as the double whammy of COVID-19 and bushfires destroy its economy.

About 4,000 left the workforce in Shepparton and 5,800 did so in Ballarat. Melbourne is doing worse still with every part of Melbourne suffering job losses and overall experiencing more employment pain relative to the size of its workforce than the country areas.

Women and young people have been particularly hard hit. Across Victoria, 55 per cent of employment loss was borne by women. In Greater Melbourne, 52 per cent of employment loss were women, while in regional Victoria, 78 per cent of employment loss were women. That’s a disturbing 11,700 jobs lost by women in regional Victoria out of the total 15,000 lost.

Today’s data is more evidence that Daniel Andrews’s extended lockdowns are hurting Victorians.

Yesterday, the ANZ Stateometer, showed Victoria had performed worst on the report’s underemployment rate, which has increased the most of any state or territory. In April, the number of Victorians wanting a job or more work jumped to 14.1 per cent from 8.5 per cent in March.

The Andrews Government strict lockdowns which have been the heaviest in the country, has exacerbated job losses across Victoria and must be reviewed immediately.

Comments attributable to Shadow Treasurer, Louise Staley:

“Day-after-day, the evidence mounts that Daniel Andrews’ extended lockdowns are causing worse job losses in Victoria than elsewhere. Today’s ABS data paints a particularly grim picture for women who have borne the brunt of the job losses.

“Victorian households and businesses urgently need a government with a plan to address our economic emergency so we can get Victorians back to work rather than swelling the unemployment queue.”

Media Contact:        Simon Watson         0484 000 051          Simon.Watson@opposition.vic.gov.au


Quarterly report paints Victoria’s grim economic picture

Tonight’s release of the latest ANZ Stateometer report shows Victorians are experiencing some of the worst economic effects in the country following the state’s toughest COVID-19 lockdown restrictions.

The report is not good news for homeowners or residential mum-and-dad investors with the state’s reliance on international tourism having weakened the housing market more than other states. Housing prices started falling in April. Rental listings have increased sharply with inner Melbourne rentals up 36 per cent.

The report warns that slowing demand for housing will continue to flow through to housing construction, which was already declining at the start of the crisis.

Victoria also comes out worst on the report’s underemployment rate which has increased the most of any state or territory. In April, the number of Victorians wanting a job or more work jumped to 14.1 per cent from 8.5 per cent in March.

The Andrews Government strict lockdowns which have been the heaviest in the country has also hit local businesses. The report found Victoria’s retail spending growth up just two per cent, the lowest in the country.

The State Government’s March Quarterly Report released last week showed that through poor and reckless financial management the Victorian Government’s capacity to respond to the economic impacts of lockdown restrictions has been significantly impacted by a budget in deficit and record government debt before COVID-19. Australian Bureau of Statistic’s Labour force number released last week showed 127,100 Victorians lost their jobs in April.

The Liberal Nationals released a plan to get Victoria back to work and back in business last week. The plan is a roadmap for the state’s economic recovery. While Daniel Andrews remains dogged in his approach to the state’s lockdown, he has no plan to address the economic devastation caused by COVID-19.

Comments attributable to Shadow Treasurer, Louise Staley:

“Victoria has always been the economic powerhouse of the country and to come in well behind New South Wales and the national average on this economic report card shows just how much of an impact Daniel Andrews’s strict lockdowns have had.

“Day-after-day, Daniel Andrews’s lack of a jobs plan is becoming clearer. Last week it was the tragedy of 127,100 Victorians losing their jobs, today it’s more proof we are lagging behind other states and have the biggest increase in people looking for work or needing more hours of work. 

“Victorian households and businesses urgently need a government with a plan to address our economic emergency so we can get Victorians back to work rather than swelling the unemployment queue.”

Media contact:   Mitch Grayson   0427 03 670   mitch.grayson@opposition.vic.gov.au  


Education Minister confirms Labor’s “big borrow” to be spent on 2018 election commitments

Labor’s Education Minister, James Merlino, has today at a Parliamentary Committee hearing admitted that Labor will be using some of the $24.5 billion of “pandemic” borrowings to fund school building election commitments from 2018.

The admission that Labor’s “big borrow” will be spent funding election commitments from 2018 shows that Labor had run out of money.

Labor is now using the coronavirus pandemic as cover for its economic incompetence.

This is just the latest admission by Labor that the real reason it needs to borrow over $24 billion is that Daniel Andrews and his Treasurer can’t manage money and can’t balance the budget.

 

Comments attributable to Shadow Treasurer, Louise Staley:

“Having butchered the budget before COVID-19 and the bushfires, now Daniel Andrews and his team admit they are borrowing to fund 2018 election promises.

“The Liberal Nationals have called for transparency on how these borrowings are spent to ensure Labor doesn’t just use it to fill its budget black holes.”


Latest economic data grim for Victoria

The latest Victorian budget update paints a grim picture of Victoria's finances.

Labor Treasurer Tim Pallas began delivering deficits in September last year but only now has admitted he has given up on chasing surpluses.

Victoria's budget was in deficit well before this year's bushfire and coronavirus pandemic with only two of the 13 weeks reported in this update being related to the COVID-19 pandemic.

The third-quarter net result of a $773 million deficit is the worst in years.

This result is $2.3 billion worse than last year despite taxation revenue being up $262 million for the year to date.

Expenses in the budget are up $3.97 billion to March 31 and employee expenses are up 8.8 per cent for the quarter year-on-year despite Tim Pallas saying in January that employee expenses for the full year would be up 2.5 per cent.

Victoria's unemployment rate has also risen from 5.2 per cent in March to 6.0 per cent in April and 127,100 Victorians lost their jobs in April

Comments attributable to Shadow Treasurer, Louise Staley:

"Victoria's budget was in a terrible state before the pandemic hit and now Labor wants to borrow over $24 billion to paper over their economic mismanagement. 

"Daniel Andrews can't hide behind the coronavirus to cover up the parlous state he has allowed the state's budget to collapse into.

"Victoria needs a jobs-led and business-led recovery from this pandemic, not more of Labor's high debt, high taxes and reckless spending."

Media Contact:        Simon Watson         0484 000 051            Simon.Watson@opposition.vic.gov.au


April News