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14/04/20

16:42

Post #: 44037088
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Originally posted by luckycato: ↑

This Thursday Employment/unemployment (March) will be released. That would be the highest jobless rate since April 1994, when Australia was still recovering from the 1990-91 recession.

Seven hundred thousand Australians could lose their job by the middle of the year as the unemployment rate reaches its highest level in 26 years, but Treasury modelling also reveals it would have been much worse without the JobKeeper program.The analysis shows Treasury had expected unemployment, which edged down to 5.1 per cent in February, to triple to 15 per cent as businesses stood down staff and closed their doors in response to the coronavirus pandemic.Instead, it believes the $130 billion wage subsidy program that was approved by the federal Parliament last week will result in the jobless rate reaching 10 per cent in the June quarter.

How would the market go? Another “Green Day” because so many people lost their jobs? And why?

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You can't trade short term swings using fundamentals. Technicals say the Ords is starting to look toppy, but BBOZ may go as low as $10.70 before a pump back up.

ima.
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