Abstract
The social and economic impact of COVID-19 has extended to industrial relations as a result of major changes to work and the labour market. Immediately after the lockdown began, 15% of the Australian workforce was laid off. Job losses have been unevenly spread, with hospitality experiencing a 33.4% reduction, and arts and recreation services 27%
(ABS 2020a). Those aged under 30 lost jobs at a particularly high rate. However, the official unemployment rate understates loss of work, because of the JobKeeper wage subsidy, reduced labour force participation and the restrictive ABS definition of unemployment: actively looking for work and less than one hour’s work per week. The Reserve Bank estimates that total hours worked fell by 20%, while Treasury estimated unemployment at close to 15% by late May, 2020 (Black 2020a).
(ABS 2020a). Those aged under 30 lost jobs at a particularly high rate. However, the official unemployment rate understates loss of work, because of the JobKeeper wage subsidy, reduced labour force participation and the restrictive ABS definition of unemployment: actively looking for work and less than one hour’s work per week. The Reserve Bank estimates that total hours worked fell by 20%, while Treasury estimated unemployment at close to 15% by late May, 2020 (Black 2020a).
| Original language | English |
|---|---|
| Pages (from-to) | 147-154 |
| Number of pages | 8 |
| Journal | Journal of Australian Political Economy |
| Issue number | 85 |
| Publication status | Published - 2020 |