COVID

‘Worse than COVID’: How local shops are feeling the economic downturn

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A woman sitting on a bench outside holding a mug.

Rising costs, fuel prices and bushfire-related closures are pushing regional Victoria’s small businesses to the brink, with owners saying they are struggling to stay open. The Reserve Bank raised interest rates by 0.25 percent on March 17, adding to the pressure on already struggling businesses. Since then, some workers say fewer people are going out … Read more

Hiring recently hit unprecedented levels as economy ‘virtually shut down’ during COVID, top economist says | Good luck

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Hiring recently hit unprecedented levels as economy 'virtually shut down' during COVID, top economist says | Good luck

The Bureau of Labor Statistics reported Tuesday that the hiring rate fell to 3.1% in February, with just 4.8 million new hires, the lowest since April 2020. Job openings fell to 6.9 million, down 358,000 from January. The unemployment rate was lower at 1.9%, while the unemployment rate remained at 1.1%, and the number of … Read more