The jobs likely to survive coronavirus crisis as unemployment doubles
Jobs in education, health care and garbage collection are surviving Australia’s worst crisis since the 1930s Great Depression.
Reserve Bank of Australia governor Philip Lowe is forecasting unemployment almost doubling to 10 per cent by June, reaching a level unseen since early 1994.
Australia is facing the sharpest downturn in generations as the COVID-19 pandemic threatens the world economy.
Within weeks, the jobless rate is expected to revisit double-digit levels last suffered almost three decades ago, during the long aftermath of the last recession.
The hospitality sector, which includes cafes, pubs and hotels, has taken the biggest hit from the coronavirus shutdowns and border closures – with the number of jobs plunging by a quarter since late March.
Jobs in education, Sdi Certification exams healthcare and garbage collection are more likely to survive a recession as unemployment doubles within weeks to the highest level in almost three decades. School teachers (stock image) are barely affected by the worst economic crisis in more than 80 years, with their education sector job numbers falling by just 0.1 in the three weeks to April 4 even as classrooms were shut
Dr Lowe is also forecasting the steepest economic contraction since the 1930s with teenagers more likely to lose their jobs.