Australia (9news)

Forecast immigration plummet would bushwhack economy

By November 13, 2020 No Comments
The coronavirus crisis has cut Australia off from the world, and population growth is about to slow dramatically.
Net migration to Australia stood at 240,000 in the 2018-19 financial year.
That would slow economic growth by nearly two percent
“They are quite significant falls,” Prime Minister Scott Morrison said.
Chris Richardson of Deloitte Access Economics said Australia tended to get young, “relatively skilled” migrants, and losing them would have more of an economic impact.
But with unemployment tipped to rise to 10 per cent, Labor wants a rethink on issue more temporary work visas.
“It’s quite right that Australians should have the first chance and the best chance at getting the jobs that become available,” Shadow Education Minister Tanya Plibersek said. However, some experts argue the immigration equation is a net benefit.
“Migrants don’t steal jobs,” Mr Richardson said.
“We had that exact same debate in the ’70s when married woman taking jobs was going to mean higher unemployment forever.”

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