Field house auction will resume this weekend
real estate experts say the closure and restrictions since the outbreak of new coronary pneumonia have led to the loss of 7.5% of jobs in australia, a new figure pointing to lower consumer confidence and lower house prices.
Between March 14 and April 18, unemployment was highest among people under 20 and over 70, with 18.5 percent and 13.9 percent, respectively, according to data released Tuesday by the Australian Bureau of Statistics (ABS).
The unemployment rate among persons in their twenties was the second highest, at 10.3 per cent, while the employment rate among persons between 30 and 69 years of age decreased by a smaller margin, between 4.1 and 5.5 per cent.
While the unemployment rate among the most likely-to-buy age group (usually middle-aged) is lower than among older and younger people, the number is still large, says economic Trent Wiltshire, who works on the website.
"The 5 per cent drop in employment is equivalent to twice the unemployment rate for those age groups, which is our worst recession in at least 30 years ," Witshe said. "
"As they are less affected, they may be more active in real estate markets in the rebound, but unemployment has risen sharply and is not yet over. "
Data show that 1.5 per cent of workers in the labour force lost their jobs in the week ending April 18, compared with 0.3 per cent in the previous week.
The most affected sectors were accommodation and food services, as well as art and entertainment, which had lost 33.4 and 27 per cent of jobs since mid-March, respectively.
Not only did a large number of workers lose their jobs, but more workers became underemployed, with less weekly working hours and lower incomes, Mr.she said. Among workers aged 40-49,4.2 per cent lost their jobs between 14 March and 18 April, but up to 8.2 per cent saw their salary decline.
A similar situation has been observed among persons in their 30s and 50s, salary more people have lost their earnings than those who have lost their jobs.
Employees of these age groups are most likely to be cut in corporate or personal pay negotiations salary.
Young workers with higher unemployment, by contrast, are more likely to receive pay increases.
In some specific industries, there are far more workers who are paid less than those who have lost their job cooperation. In the financial and insurance sectors, for example, only 1 per cent of employees were unemployed during the month, but up to 10 per cent were paid off.
While some economic think house prices will fall sharply in the coming months, some real estate analysts say the weekend will be the first on-the-ground auction after easing epidemic closures and restrictions. Potential home-bound buyers are eager to express a strong interest in taking part in saturday`s residential auction, suggesting the property market is likely to stop falling back.
