Australia ‘set to avoid’ losing another generation to long-term unemployment by Sky News Australia on YouTube
Australia ‘set to avoid’ losing another generation to long-term unemployment
Treasurer Josh Frydenberg has touted the Morrison government’s economic strategy during his pre-budget address saying the nation is set to avoid “what many feared would be another lost generation to long-term unemployment”. Mr Frydenberg said the nation’s “sound economic position” pre-pandemic enabled it to respond to the challenges of COVID-19 “as required”. “Now, beyond all expectations, after the first recession in nearly 30 years, employment has not only returned to its pre-COVID level, it has surpassed it,” he said. “There are more Australians in work today than ever before.” “As a direct result of our actions, Australia has experienced a smaller fall in economic activity than any major advanced economy. “And we are the first major advanced economy to see both hours worked and employment, return to pre-pandemic levels”. The treasurer said the upcoming budget will “continue to prioritise job creation and drive the unemployment rate even lower,” and “ensure Australia's fiscal position remains strong and sustainable”.
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Treasurer Josh Frydenberg has touted the Morrison government’s economic strategy during his pre-budget address saying the nation is set to avoid “what many feared would be another lost generation to long-term unemployment”. Mr Frydenberg said the nation’s “sound economic position” pre-pandemic enabled it to respond to the challenges of COVID-19 “as required”. “Now, beyond all expectations, after the first recession in nearly 30 years, employment has not only returned to its pre-COVID level, it has surpassed it,” he said. “There are more Australians in work today than ever before.” “As a direct result of our actions, Australia has experienced a smaller fall in economic activity than any major advanced economy. “And we are the first major advanced economy to see both hours worked and employment, return to pre-pandemic levels”. The treasurer said the upcoming budget will “continue to prioritise job creation and drive the unemployment rate even lower,” and “ensure Australia's fiscal position remains strong and sustainable”.
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