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Big banks warn workers in Sydney branches could lose one in ten jobs, as food and petrol prices rise

A tenth of workers are likely to lose their jobs during Sydney s extended lockdown and rising inflation and prices mean they will struggle, analysts warn.
Major banks predict up 300,000 jobs could be lost over the course of the lockdown, which will now last until at least August 26.
Commonwealth Bank said one in 10 workers will lose their jobs, and ANZ s earlier tip of 60,000 has blown out to many times more.
This number is now likely to be higher, and we expect the recovery will be delayed for at least one month, to October, ANZ senior economist Felicity Emmett said.
A tenth of workers are likely to lose their jobs during Sydney s extended lockdown and rising inflation and prices mean they will struggle, analysts warn ....

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CBA: Australian economy plunging into "deep contraction"

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CBA’s chief economist, Gareth Aird, with the note:
Overview
For most of H1 21 Australia looked on track to live up to its namesake as “the lucky county”. Economic outcomes were strong, COVID-19 was by and large not circulating in the community and the vaccine rollout was moving forward, albeit slowly. We appeared very much on course to end the year with an unemployment rate of ~4.5% and the vast majority of the adult population vaccinated. Australian exceptionalism would once again shine and the world would look upon us with envious eyes and wonder how exactly we pulled it off. ....

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Sydney's lockdown could extend into October, economists warn

Sydney's lockdown could extend into October, economists warn
businessinsider.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com.au Daily Mail and Mail on Sunday newspapers.

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CBA (ASX:CBA) share price closes lower as bank warns of shrinking GDP

CBA (ASX:CBA) share price closes lower as bank warns of shrinking GDP
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