Unpacking the Impacts of COVID19

It has been exciting to see Darwin and NSW hospitality’s lights switched back on today.

ACT and QLD is set to follow with cafes, pubs and restaurants allowed to re-open for up to 10 patrons on Saturday May 16th , and WA and Tasmania from Monday May 18th. South Australia and Victoria have not yet announced a date.

The COVID19 pandemic has reverberated through the economy of most industries in all corners of the globe. According to Ross Clements, a recruitment industry expert, the forecast in Australia for household expenditure, business and dwelling investment is set to fall, due to less risk taken by individual households and businesses, and the level of cash deficit our economy is set to face.

Ross Clements presents his view on the Australian construction industry’s job slump, with a report that employment in construction has fallen by 6.4%, which is significantly below that of the average for all sectors at 7.5%. More sobering is the report that the Accommodation and Food Services industry is the hardest hit with an employment decline of 33.4%. Read the complete blog here.

The monumental impacts that COVID19 has had on our industry makes our road to recovery a long one. We hope that Hospo recovers quickly. With the recent bushfires, floods, drought and now COVID19, our industry is down, but the lights are not out completely. We have proven to be resilient in times of crisis time and time again, and we cannot wait to get out and support you all.