RBA STRESSES NEED FOR JOBS PLAN

The Reserve Bank Governor, Philip Lowe, today re-emphasised the crucial need to prioritise jobs as key to the nation’s recovery. 
 

In evidence at the Economics Committee today, Dr Lowe said, “I’ve said a number of times already through this hearing that the priority needs to be to get people into jobs because that is where the scarring comes from both in terms of people’s economic  performance but also their success as a member of society. If you have a long periods of unemployment there are a lot of issues with that.”
 

This statement follows the latest ABS data that reveals more than one million Australians are unemployed for the first time ever, with 528,000 jobs lost since the virus outbreak.
 

Scott Morrison’s silence on a plan for jobs and the recovery is deafening. The lack of a comprehensive plan to support workers, households and businesses in the middle of this recession poses an increasing risk to the recovery and to jobs as unemployment continues to rise.  
 

Every day without a jobs plan means too many Australians without a job.
 

Australians can’t afford to wait until the October Budget for a proper jobs plan from this Morrison Government.