Unemployment figures escalating

Member for Ripon Louise Staley has blamed the Labour government for a further rise in the state’s unemployment rate, ‘which will continue to grow thanks to Victoria’s second lockdown’.

Ms Staley, who is also shadow treasurer, has lashed out at the Andrews government following the release of updated Victorian unemployment figures late last week.

The Australian Bureau of Statistics report revealed the figure for June was 7.5 percent, up from 6.9 percent in May and 5.2 percent in March, when COVID-19 restrictions were first introduced.

In the past month, Victoria’s unemployment rate surpassed the national figure of 7.4 percent, higher than the best comparable state economy of NSW figure of 6.9 percent.

Ms Staley said almost 169,000 jobs had been lost in Victoria since March, with more to come after the reintroduction of coronavirus restrictions in July.

She said Victoria’s unemployment rate of 7.5 percent was the highest it had been since November 1998.

“Unemployment will continue to grow thanks to Victoria’s second lockdown,” she said.

“Figures show 169,000 fewer Victorians had a job in June and that’s before a second lockdown for metropolitan Melbourne.”

Ms Staley said the latest unemployment numbers proved Victorian workers and their families were experiencing higher unemployment rates than NSW or nationally.

“The Andrews Labor government’s insufficient support package shows it doesn’t understand what’s needed to help businesses survive,” she said.

“The Liberal-nationals have a clear plan to get Victorians back in work and back in business.”

Across Australia, unemployment reached 7.4 percent in June, the highest figure in two decades.

Forecast

Modelling released by the State Government in April showed ‘the devastating and unprecedented impact the coronavirus pandemic would have on the state’s economy across the rest of the year and into 2021’. The treasury report forecasted 270,000 Victorians could be out of work as a result of the economic and health crisis, with Victoria’s unemployment rate peaking as high as 11 percent in the September quarter.

Premier Daniel Andrews acknowledged the economic impact of coronavirus would get significantly worse before it got better – and the hard road to recovery would be longer than first expected.

Earlier this month the government announced a $534-million Business Support Package.

Mr Andrews said the package added support measures on top of $6-billion in economic relief already invested since the pandemic began.

The package includes cash grants for struggling businesses, mental health support for business owners, relief for tourism operators who can no longer welcome Melbourne-based visitors for holidays, and tailored and targeted advice for businesses to adapt, stay afloat and then bounce back on the other side.

The Federal Government last week announced a $2-billion package for job seekers and school leavers, retraining and ‘upskilling’ them into sectors with job opportunities.

The Commonwealth plans to partner with states and territories to deliver a $1-billion Jobtrainer fund.

The government expects the second Victorian lockdown to show in the July figures.