Australia’s government led income shock

In this podcast with Gareth Aird, Head of Australian Economics and Belinda Allen, Senior Economist, we delve into insights provided by income data flowing into CBA bank accounts. The data shows the large positive shock underway from government benefits (JobSeeker and other support payments) is more than offsetting a loss from wages and salaries. While this is positive now and will help support spending during the Covid-19 crisis, the real question is what happens in September and October as these payments run out.

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