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21/06/2020
Perhaps like some of you, I am struggling to get a handle on how I think Australia is traveling just at the moment. This might reflect the fact that I reside in Victoria, where people understand but are disappointed by the need to reinstate tighter measures regarding social and economic activity. However, I am finding it hard to understand some of the weekend spending data showing spending on cafes and uber trips for example at levels close to those seen prior to the COVID crisis.
In contrast, the release of the ABS jobs figures last week was sobering, and coming off the back of CEDA’s State of the Nation, underscored a key theme emerging in our discussions – people are worried about jobs and especially about how we deal with a predominantly (and unusually) ‘pink’ recession, with women and younger members of the workforce disproportionately affected.
The sharp jump in unemployment, which we knew was coming, coupled with the spike in cases in Victoria, serve as a reminder of the magnitude of the task ahead. We are clearly not out of the woods yet.
For that reason, I think we must maintain a clear focus on what was one of the stand-out messages from State of the Nation – do not waste this crisis.
We have the opportunity to drive real change and build on the rapid innovations seen over the past three months. I think business, government and the community alike have surprised themselves. The spirit of collaboration that we have seen across all levels of government, interest groups and business must continue.
More change is inevitable as we chart a course to recovery and we must make sure it not only addresses near term challenges but sets us up for success in the future.
CEDA’s program this week is very much focused on that, with our national economic outlook, the future of financial services and resetting the Federation the key themes for livestreams.
Watch: In tomorrow’s livestream, National economic outlook, Westpac Chief Economist, Bill Evans, and I will provide our latest analysis and forecasts for the national economy. I’m hoping Bill will help me interpret the recent economic data including Westpac’s own consumer sentiment survey.
Tickets are still available and you can register here.
Thursday’s livestream, The future of financial services will be a panel discussion on how Australia’s financial services are anchor institutions in our society and must play a leading role in reanimating the economy.
Speakers include:
On Friday we have Resetting Federation for recovery and reform. Forming part of CEDA’s Recovery Series: Coming back better, this discussion will examine the lessons from the way federal-state relations have been conducted during the COVID-19 pandemic and how these lessons may be used to advance key policy issues into the future.
Joining me on the day are:
Tickets for these online events are free to CEDA members, with low cost tickets available to non-members. You can also catch up with CEDA’s livestreams on demand on the video archive page of the website.
Listen: You can catch up on last week’s State of the Nation 2020 Digital Forum, Day 1 Recap, here.
Also available online is State of the Nation 2020 Digital Forum, Day 2 Analysis, which you can find here. To catch up on everything SoN you can click here.
The latest edition of The lowdown podcast with Seek Corporate Sales Manager – NSW & QLD, Mitch Evans, is also available. This podcast explores the granular findings of Seek's latest data and signs of a surprising rebound by SMEs. You can listen in here.
And finally, thank you to this week’s renewing CEDA members:
National member:
Fragomen
State members:
Bankwest (WA)
Brotherhood of St Laurence (VIC)
CBH Group (WA)
ConnellGriffin (NSW)
Essential Services Commission of South Australia (SA)
Federal Department of Education, Skills and Employment (ACT)
Federal Department of Foreign Affairs and Trade (WA)
Federal Department of Health (VIC)
Hudson (WA)
Local Government Association of Queensland (QLD)
Scitech (WA)
South Bank Corporation (QLD)
South East Water (VIC)
South Metropolitan TAFE (WA)
Sydney Water (NSW)
Telethon Kids Institute (WA)
WaterNSW (NSW)
Woodside Energy (WA)
Thanks again to all of our members who participated in our first digital State of the Nation, and thanks as always to the wider CEDA community for your continued support.
Melinda Cilento
In contrast, the release of the ABS jobs figures last week was sobering, and coming off the back of CEDA’s State of the Nation, underscored a key theme emerging in our discussions – people are worried about jobs and especially about how we deal with a predominantly (and unusually) ‘pink’ recession, with women and younger members of the workforce disproportionately affected.
The sharp jump in unemployment, which we knew was coming, coupled with the spike in cases in Victoria, serve as a reminder of the magnitude of the task ahead. We are clearly not out of the woods yet.
For that reason, I think we must maintain a clear focus on what was one of the stand-out messages from State of the Nation – do not waste this crisis.
We have the opportunity to drive real change and build on the rapid innovations seen over the past three months. I think business, government and the community alike have surprised themselves. The spirit of collaboration that we have seen across all levels of government, interest groups and business must continue.
More change is inevitable as we chart a course to recovery and we must make sure it not only addresses near term challenges but sets us up for success in the future.
CEDA’s program this week is very much focused on that, with our national economic outlook, the future of financial services and resetting the Federation the key themes for livestreams.
Watch: In tomorrow’s livestream, National economic outlook, Westpac Chief Economist, Bill Evans, and I will provide our latest analysis and forecasts for the national economy. I’m hoping Bill will help me interpret the recent economic data including Westpac’s own consumer sentiment survey.
Tickets are still available and you can register here.
Thursday’s livestream, The future of financial services will be a panel discussion on how Australia’s financial services are anchor institutions in our society and must play a leading role in reanimating the economy.
Speakers include:
- Australian Banking Association, Chief Executive Officer, the Hon. Anna Bligh AC;
- The University of Queensland, KPMG Chair in Organisational Trust and Professor of Management, Nicole Gillespie; and
- Mercer interim CEO, Jo-Anne Bloch
On Friday we have Resetting Federation for recovery and reform. Forming part of CEDA’s Recovery Series: Coming back better, this discussion will examine the lessons from the way federal-state relations have been conducted during the COVID-19 pandemic and how these lessons may be used to advance key policy issues into the future.
Joining me on the day are:
- Former Premier of Victoria, the Hon. John Brumby AO; and
- Griffith University, Principal Research Fellow, Jennifer Menzies
Tickets for these online events are free to CEDA members, with low cost tickets available to non-members. You can also catch up with CEDA’s livestreams on demand on the video archive page of the website.
Listen: You can catch up on last week’s State of the Nation 2020 Digital Forum, Day 1 Recap, here.
Also available online is State of the Nation 2020 Digital Forum, Day 2 Analysis, which you can find here. To catch up on everything SoN you can click here.
The latest edition of The lowdown podcast with Seek Corporate Sales Manager – NSW & QLD, Mitch Evans, is also available. This podcast explores the granular findings of Seek's latest data and signs of a surprising rebound by SMEs. You can listen in here.
And finally, thank you to this week’s renewing CEDA members:
National member:
Fragomen
State members:
Bankwest (WA)
Brotherhood of St Laurence (VIC)
CBH Group (WA)
ConnellGriffin (NSW)
Essential Services Commission of South Australia (SA)
Federal Department of Education, Skills and Employment (ACT)
Federal Department of Foreign Affairs and Trade (WA)
Federal Department of Health (VIC)
Hudson (WA)
Local Government Association of Queensland (QLD)
Scitech (WA)
South Bank Corporation (QLD)
South East Water (VIC)
South Metropolitan TAFE (WA)
Sydney Water (NSW)
Telethon Kids Institute (WA)
WaterNSW (NSW)
Woodside Energy (WA)
Thanks again to all of our members who participated in our first digital State of the Nation, and thanks as always to the wider CEDA community for your continued support.
Melinda Cilento
About CEDA
CEDA – the Committee for Economic Development of Australia – is an independent, not-for-profit membership organisation.
We identify policy issues that matter for Australia’s future. We work to drive policies that deliver better economic, social and environmental outcomes for Australia. We deliver on our purpose by: Leveraging insights from our members to identify and understand the most important issues Australia faces. Facilitating collaboration and idea sharing to invoke imaginative, innovative and progressive policy solutions. Providing a platform to stimulate thinking, raise new ideas and debate critical and challenging issues. Influencing decision makers in government, business and the community by delivering objective information and expert analysis and advocating in support of our positions. CEDA's membership spans every state and territory and includes Australia's leading businesses, community organisations, government departments and academic institutions. The organisation was founded in 1960 by leading economist Sir Douglas Copland, and his legacy of applying economic analysis to practical problems to aid the development of Australia continues as we celebrate 60 years of influence, reform and impact across the nation.;