[Franco Cozzo]

The analysis finds that since 26 June, the number of unemployment benefit recipients in Victoria rose by about 27,600, or 7.2%, with more than half of this occurring in the three weeks ending 21 August.

According to a brief circulated by the government, Treasury analysis of data from the Commonwealth Bank shows Victoria has seen a large decrease in household spending growth relative to the rest of Australia since the lockdown restrictions were re-imposed.

The analysis says growth in discretionary spending in Victoria was as low as around minus 40% through the year in mid-April, before improving to be around minus 5% through the year in mid-June as restrictions were eased. After the second wave reversal, growth in discretionary spending has fallen to about minus 45% through the year.

Melbourne has been harder hit than regional Victoria. Unemployment benefit recipients have increased by between 7-8% in Melbourne since the onset of restrictions, compared to 3% in the regions.

https://www.theguardian.com/australi...4-restrictions

Huge loss in discretionary spending