As I noted today with the treasurer it is young people who have been most hard hit in the most recent May figures today. Around 45% or thereabouts of the falls we’ve seen in employment have been for younger people.
And it’s 52% of women who are affected by those numbers. Now the member makes reference to the recession.
This recession has been brought about by the coronavirus pandemic. It’s the recession we weren’t going to have and we shouldn’t have had to have, Mr Speaker.
The last recession we had in this country was described by the Labor treasurer at the time as the recession we had to have.
We should never have to have a recession and that’s what the government had worked so hard to do, over many years, and the biggest beneficiaries of the job creation that had occurred under our government’s policies leading into the pandemic was for women.
Mr Speaker, labour force participation for women had risen to an all-time high.
The gender pay gap had fallen to an all-time low (still over 13%). And it is true that women have been the most impacted of the two genders (gender is a social construct) when it comes to employment in this country. That is true.
And young people also. And it is our great hope that has the economy continues to open, as I noted at the press conference today, the figures that were released today predated the opening of the economy under the three-step plan agreed by national cabinet.
Women and younger people should be the first to benefit because it’s in those sectors of retail and hospitality that have been most affected and they are the areas that we hope would be the most supported as the economy reopens.
This recession is a terrible business for all Australians. It’s a recession we didn’t have to have.
It’s a recession we weren’t going to have. As a result of the coronavirus epidemic, that is where we find ourselves.
Even in a recession we find the Australian economy in a better position than almost if not every other developed economy in the world. Now that is no comfort to those Australians who have lost their job, Mr Speaker. But the truth is if you’re an Australian in Australia, you are in the best place in the world in the midst of this crisis.
