Since the coronavirus economic crisis began, there has been a great deal of rhetoric from the Morrison government that the economy would “snap back” to the way it was pre-COVID19, that their policies would “bridge” the crisis allowing for a rapid economic recovery.
This view has been supported by rosy forecasts from the RBA and Treasury, promising a recovery that can only be described as fantastical compared with those of the past decades.
After the release of the May unemployment figures, analysts concluded that the ‘real unemployment rate’ was approximately 11.3%,
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