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Research by the Australian National University (ANU) estimates the economic impact of the coronavirus pandemic on Australian households.
The ANU’s survey suggests that the nation’s employment rate fell to 58.9% in April from 62% in February. This equates to the loss of around 670,000 jobs.
The ANU also estimates that the total loss of income for Australian households since the lockdowns began is about $102 billion, while after-tax income on a per capita basis has fallen from $740 a week to $663. The richest 10% of households have been hardest hit, with their income falling from $2,110 per week to $1,688:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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