Unemployment figures highlight need for business to drive recovery

Release Date: 14/05/2020
Today’s ABS unemployment data is a reminder of just how significant the economic shockwaves from the coronavirus are, said TCCI CEO, Michael Bailey.
“These figures show around 10,000 jobs disappeared in April alone.  Based on our modelling, around 25,000 to 35,000 jobs will disappear before the majority of restrictions on business are eased on 15 July,” Mr Bailey said.
“However, there’s no point dwelling on the negative impacts.  We need to focus on how we are going to recover from coronavirus. 
“The key to Tasmania’s economic recovery is our business sector.  We believe the Government should focus on three key areas – supporting businesses to reopen and stay open, investing in our people and investing in infrastructure.  If the Government gets its policy settings right in these three areas, we believe it will give the business community the best chance to recover as quickly as possible.  Again, it’s important that during the recovery the Government looks to reduce red tape and taxation to help businesses re-establish themselves.
“While it’s going to be challenging, we believe that if we work together as a community, there’s no reason why we can’t look to get most of these jobs back within the next 12 months.”

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