Unions would do **** all but demand a payrise and less hours
of extreme concern ->>>
One in 10 firms say they will shut once government support ends
One in 10 businesses say they will close once government support measures such as JobKeeper come to an end.
A special business survey by the Australian Bureau of Statistics, released on Thursday, shows how dependent many firms are on programs including JobKeeper, which the government plans to start winding back from the end of September.
While 10 per cent of firms said they would shut without support, among accommodation and food services businesses the closure rate rose to 23 per cent. Among transport, postal and warehousing firms, the closure rate was 18 per cent.
A total of 12 per cent of firms said they would let go staff once government support ends, a sign of the possible increase in unemployment that might hit the economy through the end of this year and into early 2021.
The survey came as the ABS also reported a 4.9 per cent drop in dwelling approvals through June. Over the past year, they are now down by 15.8 per cent.
"The impact of COVID-19 was evident on dwelling approvals in June," the bureau's assistant director construction statistics, Bill Becker, said.