Solid growth in mineral exports and lower imports due to coronavirus-affected supply chains has resulted in Australia's trade surplus more than doubling in March to a seasonally adjusted $10.6 billion. The result bettered market expectations, with analysts forecasting a surplus of about $6 billion.
QBE's chief executive says the eventual recovery from COVID-19 will hasten the trend of digital disruption that was underway before the pandemic began. Group CEO Pat Regan told shareholders at the company's annual general meeting, being held via webcast, that COVID-19 had "turbocharged how we use and engage with technology in an unprecedented and irreversible way".
Australian households will miss out on $102 billion of income through lost jobs and lower hours because of the coronavirus crisis.
The survey found the proportion of people with jobs dropped from 62 percent to 58.9 percent - five times bigger than any other two-month fall in employment.