Hundreds of thousands of people have lost their jobs as Premier Investments brands close stores. (Photo of Sydney Morning Herald)
Nearly half of Australian companies are now feeling the impact of the new crown virus, and the number of Australian companies affected is expected to reach 80% in the coming months, unemployment across Australia will soar to more than 10%, and unemployment is expected to exceed a million!
The worrying results of the study by the Australian Bureau of Statistics (ABS) came Thursday as airlines Virgin Australia (Virgin Australia), travel agents Flight Centre and Premier Investments with stationery brands and a range of clothing brands announced significant job cuts.
Prior to the announcement by the Australian government of the first phase of the social distance measure, ABS collected data from 3,000 businesses in mid-March and found that the hotel and catering services industry was most commonly affected, with three quarters of the industry affected and expected to reach almost 100 per cent in the coming months.
The most frequent themes in this ABS report are "graduation "(closures) and" unemployment "(job losses).
Ouyang Kaixin, economics of the National Bank of Australia (NAB), told clients :" The pandemic has devastated all industries. "
Virgin management in australia has said that more than a thousand of the company`s 8000 employees currently on leave due to the new crown may face layoffs.
With 10,000 employees ,80% of Virgin Australia`s employees are now on various leave, including annual leave, long service leave and unpaid leave. Paul Scurrah, the company`s managing director, revealed in an interview that more than a thousand people would be laid off, saying the new crown was "the biggest crisis in the world`s aviation industry ".
In addition, virgin is considering sending staff to other companies that need staff during the outbreak, such as big supermarket chains and big banks.
Flight Centre also announced that more than 3800 Australian employees will be temporarily suspended. Globally, the company has eliminated about 6000 customer service and marketing positions permanently or temporarily.
Premier all physical stores in australia were temporarily closed for four weeks, involving brands including Peter Alexander、Just Jeans and Jay Jay, with an estimated 9000 employees affected worldwide.
Because the hotel industry is closed to fight the epidemic, so the industry`s practitioners are not guaranteed to work, outside the Centrelink Welfare Department, waiting for relief of the Australian long queue.
economics family expects unemployment to soar in the next few months, possibly as high as 11%, and the australian economic is experiencing its most depressed period in nearly 30 years.
Australia`s unemployment rate was only 5.1% in february, meaning it will double in the future.
