100,000 jobs to go: CCI
About 100,000 Western Australians will lose their jobs as a result of the coronavirus, according to the Chamber of Commerce and Industry of WA, although it is unclear how much the federal government's new JobKeeper payment will reduce the damage.
The chamber said that would mean an unemployment rate of 13 per cent, while a full lockdown would lead to an unemployment rate of 18 per cent, according to chief economist Aaron Morey.
“100,000 West Australians face losing their jobs in the course of this crisis," Mr Morey said.
"WA businesses are reflecting the largest fall in confidence on record, with 85 per cent impacted by plunging demand.
"Our analysis at this time indicates that the unemployment rate in WA will double, and could reach 13 per cent.
“If we’re going forward to a full lockdown we could be looking at an 18 per cent unemployment rate, which would mean around 180,000 West Australians out of work.
“The $130 billion wage lifeline announced by the prime minister is an extraordinary step to protect Australian jobs and businesses.
"It will help to shield our businesses and workers against those job losses.
"It shows that the government is listening carefully to businesses and scaling up their response to this emergency.”
The chamber did not respond to a request for further comment.
Analysis by Business News found 250,000 Western Australians work in industries impacted by shutdowns, such as hospitality, retail and recreation.
At the same time as social distancing rules hit some businesses, faling consumer confidence will affect others.
Some big businesses have stood down staff, including 20,000 at Qantas and 8,000 at Virgin.
Woodside Petroleum, Santos and Chevron are also limiting numbers on their sites to stop the potential spread of diseases.
|1st||Australian Medical Association||180|
|3rd||WA Local Government Association||100|
|4th||Association of Independent Schools of Western Australia||73|
|5th||Real Estate Institute of Western Australia||72|
129 associations ranked by total staff in WA