• Jobs & Services Australia

Breaking News : Australia in recession as economy suffers biggest contraction

Australia has officially entered recession for the first time in three decades.

The economy contracted by 7 per cent in the June quarter, following a 0.3 per cent decline in the three months to March, Australian Bureau of Statistics data released on Wednesday morning shows.

Labor treasury spokesman Jim Chalmers said on Radio National this morning it was going to be a dark day. “We are in the midst of a deep and devastating recession and that has consequences for millions of Australians,” Dr Chalmers said.


He said international comparisons, which show Australia has fared better than many other major economies, were “absolutely meaningless if you’ve lost your job”.

Treasurer Josh Frydenberg said on Tuesday that an extension to wage subsidy scheme JobKeeper, which is currently supporting 3.5 million workers, would continue to be an economic lifeline for businesses during the downturn.

“The passage of the legislation tonight is going to give evidence and certainty to millions of Australian workers and provide hope for our economic recovery,” he said.


FOR ANY DIGITAL MARKETING SERVICES CONTACT OUR TEAM TODAY TO HELP. info@Vissicon.com #cybersecurity #hacking #security #technology #hacker #infosec #tech #ethicalhacking #programming #linux #hackers #cyber #kalilinux #cybercrime #malware #python #privacy #it #iot #cyberattack #coding #dataprotection #hack #ethicalhacker #networking #informationsecurity #cybersecurityawareness #programmer #datasecurity #itsecurity #informationtechnology #software #business #cloud #computerscience #computer #internet #cloudcomputing #network #windows #bhfyp #data #phishing #hacked #cybersecuritytraining #coder #ai #artificialintelligence #cisco #anonymous #code #ransomware #encryption #networksecurity #java #digital #training #bigdata #machinelearning


Originally published: https://www.smh.com.au

© 2020 Proudly created by Vissicon.com | Taking your Vision Digital.  

TRANSPERANT LOGO.png