JCU Associate Professor Taha Chaiechi gives valuable insight into our current economic situation as well as what to consider when looking ahead.

Job loss, the closure of businesses, and stock crashes are just some of the effects of this global pandemic. Taha says it equals social and economic disruptions. An area that has seen great change due to the outbreak is our economy.

How long will it take to get my results back?Millions of Aussies have been told to isolate.

“In the financial sector, the stock market has faced record-breaking crashes in recent weeks, indicating that investor’s confidence has also been shaken.”In looking at why this outbreak has had such a massive effect on a global scale, Taha points to the phrase ‘health is wealth’.“This crisis is happening at such a large scale because there is a vital relationship between the population’s health and economic performance, particularly in our highly mobile world,” Taha says.Essentially, a healthy population equals a healthy and productive workforce.“High worker-productivity leads to larger volumes of production, higher levels of investment, and ultimately more income for wage-earners and profit for investors,” Taha says.So, what happens when the ‘health’ part of the equation turns negative? "These predictions aren't quite as grim as those in April, but that is no solace to many thousands of Victorians," Mr Pallas said.The data released in April — which assumed six months of uninterrupted stage three lockdowns — predicted Victoria's unemployment rate would more than double to 11 per cent and expected GDP to fall by 14 per cent by the end of 2020.Earlier this year, the State Government announced it planned to borrow an extra $24.5 billion to set up an emergency fund it could draw down on to help the state recover from the pandemic over the next two years.So far, only $3 billion has been drawn down to help fund the health system and for community support.Mr Pallas defended the Government's decision to grant public servants a 2 per cent pay rise, after reaching a deal this week. Since 2011, Taha has been collaborating in several research projects exceeding $1 million in value. "We are in the fight of our lives, both economically and for the wellbeing and welfare of Victorians," Mr Pallas said. And, misled by very inaccurate modelling by epidemiologists of the likely Covid-19 toll, we expected the economic …

But we’d known for months that was going to happen. She is also an Associate Fellow in Higher Education Research and Development Society of Australasia.Taha is an expert in systematic modelling of relationships between economic, environmental, and social variables.

"I think the worst thing we could possibly do at the moment is start to create a level of insecurity in the labour market, by effectively trying to drive down wages," he said.This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced.Opposition accuses Government of scaring Victorians with 'worst-case scenario' modellingWhat's being done nationally to prevent coronavirus outbreaks in aged care?I've had a coronavirus test.

Dig into what’s happening in different sectors to find where there are current or potential opportunities as a result of these unexpected changes. Here's what that means for youThe Australians who are sick of hearing 'you should have come home earlier'Three months on, does Australia need a new coronavirus contact tracing app?UK Government under pressure to dump 'misogynist' Abbott from trade roleMurderer won't be released without Australia's consent, Afghanistan saysAustralian prisoner says Chinese authorities 'can abuse' him, demands day in court'It's enough to break you some days': What it's like applying for a job right now, in a field of hundredsThe case for COVID-19 'zero': Former health chief says 'smarter, longer' restrictions needed Coronavirus update: New Zealand's Helen Clark to co-chair COVID-19 enquiryQueensland vet among two Australians missing after ship capsizedMt Isa community in shock 'outgoing and gifted' vet was on board missing shipRecords tumble as Panthers close in on NRL minor premiership'I've made that plain to the PM': WA snubs push to set border end dateGWS Giants move inside AFL top eight with come-from-behind win over Carlton'They were terrible times': How Australians remember the 1990s recessionHotel guests about to check out had coronavirus, Victoria's hotel quarantine inquiry hearsAnalysis: 'Nothing else comes close': Six graphs that explain Australia's recessionUK Government under pressure to dump 'misogynist' Abbott from trade roleMt Isa community in shock 'outgoing and gifted' vet was on board missing shipQueensland vet among two Australians missing after ship capsizedThe case for COVID-19 'zero': Former health chief says 'smarter, longer' restrictions needed Chinese charter flight to COVID-free Solomon Islands fuels independence cries UK Government under pressure to dump 'misogynist' Abbott from trade roleMurderer won't be released without Australia's consent, Afghanistan saysAustralian prisoner says Chinese authorities 'can abuse' him, demands day in court'It's enough to break you some days': What it's like applying for a job right now, in a field of hundredsThe case for COVID-19 'zero': Former health chief says 'smarter, longer' restrictions needed Coronavirus update: New Zealand's Helen Clark to co-chair COVID-19 enquiryQueensland vet among two Australians missing after ship capsizedMt Isa community in shock 'outgoing and gifted' vet was on board missing shipLebanon's military finds another four tonnes of ammonium nitrate near Beirut port'It's enough to break you some days': What it's like applying for a job right now, in a field of hundredsCoronavirus update: New Zealand's Helen Clark to co-chair COVID-19 enquiryAustralian prisoner says Chinese authorities 'can abuse' him, demands day in courtRecords tumble as Panthers close in on NRL minor premiership Taha’s research attitude is holistic and inspired by issues in climate change and natural disasters, and their impact on different economic sectors.

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