In today’s podcast, NAB Group Chief Economist Alan Oster discusses the following key points:

• The ABS today released the latest labour force figures which showed limited Coronavirus impact. However, this survey was taken in the first half of March, before the major disruptions began. We expect a major increase in unemployment.
• Inflation will be closely watched over the next year. Low wage growth is likely to supress inflation, although onshoring manufacturing could see some cost pressures.
• Australia normally has high net migration and this has now plummeted in the wake of the crisis. The impacts here could be wide-ranging.

Listen to the full podcast now.