Economics
Jobless Surge in Australia’s Virus Hotspot State Sparks Tensions
- Business curbs in Victoria had immediate impact on employment
- Consumer spending dropped in the state, stabilized elsewhere
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The coronavirus lockdown in Australia’s Victoria state caused an immediate slump in consumer spending and a surge in job losses this month, prompting the federal government to call for the leader of the second-most populous state to announce a plan to reopen the economy.
“This has to be the biggest public policy failure by a state government in living memory,” Treasurer Josh Frydenberg told reporters in Canberra on Monday. Victoria Premier Daniel Andrews later announced he intended to provide a “detailed roadmap” out of the lockdown on Sept. 6.