Jobs

Whats VR?

 

Yeah I agree. Entrepreneurs are always thinking of a new angle Y Man. The world would be a rather boring place without money.

 

In the legal field, the areas that seem to be hiring are planning and environment, insolvency and litigation and dispute resolution. Seems to me that the firms are gearing up for current increase in work demands in those areas and preparing for what they believe is to come. ATO is also hiring like crazy. Particularly in their top 200 and GST divisions. Legal and accounting fields are otherwise quiet it seems.

 

Check out what smh is saying about inner city suburbs:
https://www.smh.com.au/business/the...financial-hit-from-covid-20200707-p559wl.html

My take is that these so-called middle class professionals haven't been affected much. I have quite a few acquaintances in the inner west area, none of them were affected at all, and none of them have heard of any foreclosures in the inner west due to someone losing a job or one reduced hours.

Just a headline bait, imho.

In the rarest cases, should worst comes to worst for someone, he can always sell the richly priced house and move to rent in a cheaper suburb such as Penrith or Blacktown, no biggie, compared to what many poorer folks were suffering from and those infected patients.

 

Reality check...

There's more bad news for Aussie jobs. These are the numbers you need to know

 

A someone in real estate, banks just double your risk to resi I think. Same same exposure. Be careful holding too much if you’re already all in properties, unless you don’t mind being all in.

 

Intresting point by Kristina Keneally at 11:40 mark. "Our borders are shut, and we are now going to have to find it within our selves the capacity to fill these jobs that would have been filled by incoming migrants".

 

Would you say the same for shares?

 

Possibly although some shares are more positively correlated to properties than others. Basically around 70% of CBA’s business/assets is lending to resi. So if resi died, so would CBA. Realestate.com is another great example. Completely tied to the real estate market.

Some shares are much less correlated, for example CKF which owns 100+ KFCs. You could almost say they’re slightly counter-cyclical. If we had a recession there’ll be more people eating KFC. Hence its share price has been flying - it’s benefitting from a lockdown where people are poorer or having to go to KFC drive thru.

Some overseas shares give you a currency hedge. Firstly they’re not correlated with the Aus housing market specifically. If there were a global depression and Aus houses crashed, the AUD currency will fall, giving you protection if you held assets (such as shares) in “risk-off” currencies such as the USD, HKD and Japanese Yen.

 

makes sense

interesting how AUD has had a good run lately, even hit 70. Hoping it will slide back

 

Looks to be out of its multiyear downtrend channel.
Probably means we need to print more money or cut interest rates :S

 

Just google it

 

More job losses melb

Myer cuts another 90 head office jobs

 

Who knows?

The sad thing is many people will lose their job and they may need new skills but wont be in a position to do this. Age will come into play

i wonder how long job keeper will be extended?

 

Absolutely. 100%. I know of a number of places that have already done this.