NT job loss numbers paint a grim picture of COVID-19 economic toll

THE daily collection of figures being revealed by the Federal Government paint a grim picture for Australia and the NT. But the true damage done to the NT’s finances by coronavirus is blurry at best, with the NT Government yet to release the roughest of estimates and full spend sheets not due until late July or early August.

The Centrelink office on Knuckey St, Darwin. Picture: Che Chorley

THE daily collection of figures being revealed by the Federal Government paint a grim picture for Australia and the NT.

But the true damage done to the NT’s finances is blurry at best, with the NT Government yet to release the roughest of estimates and full spend sheets not due until late July or early August.

Queensland has outlined an estimated $4 billion hit to its revenue, and the WA treasurer has warned any previous forecast of a surplus has likely been wiped.

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Data released by the Australian Bureau of Statistics yesterday revealed an estimated 11,400 jobs had been lost in the NT between March 14 and April 18, with nearly 60 per cent of those coming from the accommodation and food services and arts and recreation industries.

Prime Minister Scott Morrison, outlining Treasury estimates that include a $4 billion per week hit to the Australian economy for as long as businesses remain closed, revealed by mid-2020 the number of jobs lost in the NT would jump to 21,400.

Offering no respite, the head of NT’s new Tourism Rebound Taskforce Michael Bridge said the local economy was bleeding at least $200 million each month the tourism sector remained in hibernation.

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Chief Minister Michael Gunner’s cautious optimism provides little comfort against the background of these hellish numbers, which don’t take into account how many were waiting in the dole queue before coronavirus hit.