Jobless rate plunges but workplace reforms stumble

Unemployment plunges below six per cent

Australia’s unemployment rate (seasonally adjusted) fell from 6.3 per cent to 5.8 per cent In February, boosting Federal Government hopes that the economy will be able to withstand the conclusion of JobKeeper in late March. Australian Bureau of Statistics figures show, however, that the rate of underemployment – those who want to work more hours – rose from 8.1 per cent to 8.5 per cent. NSW and Victoria both recorded unemployment rates of 5.6 per cent, with South Australia recording the highest rate of 6.8 per cent, and ACT the lowest, at 4.1 per cent. National unemployment rose to a Covid-19 peak of 7.5 per cent in July; it was 5.2 per cent in March 2020.

Treasurer hints at no more aid for closed states

Federal Treasurer Josh Frydenberg has strongly hinted that further Federal assistance would not be available to state governments that locked down their entire state under any future Covid-19 outbreaks. The Treasurer told ABC Radio that Federal packages such as the $1.2 billion regional tourism package could not work if borders were closed. He said statewide lockdowns were destructive to confidence, jobs and broader economic activity.

Industrial relations reforms blocked in Senate

The Federal Government has been forced to abandon the bulk of its post-Covid 19 reforms to industrial relations legislation after its full Fair Work Amendment Bill failed to pass through the Senate. Introduced into Parliament late last year, the Bill sought to re-define casual employment, simplify awards and crack down on wage theft, as well as reinforce enterprise bargaining and extend provisions for greenfield agreements on major projects. But minor parties refused to support the Bill in total, with only the provision relating to casual employment being passed by the Senate.

Overseas arrivals fall in January

Despite tight border restrictions, almost 8,000 short-term visitors – down 9.5 per cent on the previous month - arrived in Australia during January, according to the Australian Bureau of Statistics. New Zealand, the US and the UK were the major source visitor countries. A total of 11,350 Australian residents returned home during the month, down more than 20 per cent on the previous month. Before Covid-19, both short-term visitor and return resident numbers were exceeding more than one million a month.

Avalanche result for Labor in WA

Labor’s Mark McGowan has achieved a massive victory in the West Australian state election, winning at least 50 of the 59 Lower House seats and easily securing control of the Upper House. The Liberal vote collapsed in its traditional seats in Perth. The re-elected WA Premier now has no legislative barrier to enact his agenda, including the creation of 125,000 new jobs and a stronger focus on local manufacturing.