Australia economy - updates

Rappler's latest stories on Australia economy

ARTICLE FINDER

Australian unemployment hits 2-decade high

Jun 18, 2020 - 8:35 PM

Australia's unemployment rate jumps to 7.1% as 227,700 jobs are lost in May 2020

ECONOMIC SLUMP. A man walks through a deserted part of Melbourne's Queen Victoria Market in Australia on May 5, 2020. Photo by William West/AFP

Australia heading for recession after economy contracts

Jun 03, 2020 - 8:55 PM

Australia's gross domestic product shrinks 0.3% in January-March 2020. It is now on track to enter its first recession since 1991.

AUSTRALIA ECONOMY. People queue outside a benefits payment center in Sydney on March 23, 2020. Photo by Peter Parks/AFP

Nearly 600,000 Australians lose jobs as virus lockdown bites

May 14, 2020 - 2:30 PM

'A very tough day. Terribly shocking, although not unanticipated,' says Australian Prime Minister Scott Morrison as unemployment figures are released

A general view shows a near-deserted street in the central business district as people stay home due to COVID-19 novel coronavirus restrictions in Sydney on May 14, 2020. - New South Wales state will relax public gathering and business COVID-19 coronavirus restrictions from May 15. (Photo by Saeed KHAN / AFP)

Australia 'losing $2.5 billion a week' in virus shutdown

May 05, 2020 - 3:00 PM

Australia's gross domestic product is expected to fall 10% in the 2nd quarter of 2020

A man (L) walks through a deserted part of Melbourne's Queen Victoria Market on May 5, 2020. - Australia's economy is losing 4 billion Australian dollars (2.5 billion USD) every week its virus shutdown continues, while a million workers have already lost their jobs in the crisis, according to figures announced on May 5. (Photo by William WEST / AFP)

Australian unemployment rate to double as virus hammers economy

Apr 14, 2020 - 4:05 PM

The doubling in the unemployment rate would see an estimated 1.4 million people out of work in Australia

People queue outside a benefits payment centre in Sydney on March 23, 2020. - With the imminent closure of pubs, restaurants, cafes and entertainment venues in Sydney, large queues formed outside Australian unemployment benefit offices as online services crashed as the prime minister warned the coronavirus pandemic would cause an economic crisis akin to the Great Depression. (Photo by PETER PARKS / AFP)

Echoes of Great Depression as jobless Australians queue for help

Mar 23, 2020 - 1:45 PM

After a record 29 years of economic growth, Australia is poised to spiral into recession as the global coronavirus outbreak wreaks havoc on the country's economy

People queue outside a benefits payment centre in Sydney on March 23, 2020. - With the imminent closure of pubs, restaurants, cafes and entertainment venues in Sydney, large queues formed outside Australian unemployment benefit offices as online services crashed as the prime minister warned the coronavirus pandemic would cause an economic crisis akin to the Great Depression. (Photo by PETER PARKS / AFP)

Australia unveils $11-billion stimulus to ease virus downturn

Mar 12, 2020 - 8:00 PM

'This plan is about keeping Australians in jobs. This plan is about keeping a business in business,' says Australian Prime Minister Scott Morrison

A woman wearing a face mask crosses the street in Melbourne on March 5, 2020. - Over 50 people have been confirmed to have the COVID-19 coronavirus in Australia so far with the latest cases including an eight-month-old baby in Adelaide. (Photo by William WEST / AFP)

Australia economy slows but marks record 26 years recession-free

Jun 07, 2017 - 1:07 PM

The reading beat expectations with some analysts predicting a contraction following a category 4 cyclone in late March as well as weak trade figures and tepid wages growth

A man walks past the Reserve Bank of Australia sign in Sydney on June 6, 2017. William West/AFP

Australia marks 25 years of unbroken economic growth

Sep 07, 2016 - 1:02 PM

The Australian Bureau of Statistics data which showed annual growth at 3 3 was in line with expectations as the economy continues its shift away from an unprecedented boom in resources investment

CLEAR SKIES. A ferry passes in front of the Sydney Opera House on September 7, 2016. William West/AFP

Tobacco tax hike to add billions to Australia's coffers

May 03, 2016 - 9:51 PM

Australia announces measures to increase revenue including higher tax on cigarettes and a crackdown on firms engaging in tax avoidance

epa05288090 Australian Treasurer Scott Morrison (C) speaks during the delivery of the 2016-17 Federal Budget in the House of Representatives at Parliament House in Canberra, Australia, 03 May 2016. Reports state Australian Treasurer Scott Morrison announced tax cuts for small businesses and fines on multinational companies that shift profits offshore to avoid taxes in Australia. EPA/LUKAS COCH AUSTRALIA AND NEW ZEALAND OUT

Asia language plan 'central' to Australia reforms: PM

Oct 29, 2012 - 3:16 PM

Prime Minister Julia Gillard said she was going to prioritize Asian languages as part of an ambitious plan to get Australia into the world s top 10 wealthy economies in the next 13 years by boosting links to China and its neighbors

Australian Prime Minister Julia Gillard looks on during a business luncheon meeting in New Delhi on October 17, 2012. AFP PHOTO/ MANAN VATSYAYANA

Ambitious Asia plan to power Australia - PM

Oct 28, 2012 - 10:34 AM

An ambitious plan aimed at maximizing links with booming China and other soaring Asian economies will power Australia into the world s top 10 wealthiest nations by 2025

Australian Prime Minister Julia Gillard looks on during a business luncheon meeting in New Delhi on October 17, 2012. AFP PHOTO/ MANAN VATSYAYANA

Is smoking healthier than being gay?

Sep 07, 2012 - 8:58 AM

Gillard believes the debate about same sex marriage should be respectful and responsible

AUSTRALIAN PRIME MINISTER JULIA Gillard. Screen grab from YouTube (10sodot)