An economist predicts Victoria’s economy will bounce back ‘pretty quickly’ after COVID-19
An economist has predicted a surprisingly bright outlook for Victoria’s economy in the wake of the coronavirus pandemic.
Lead economist at Equity Economics, Angela Jackson, said there will be “a pretty quick bounce back in a lot of sectors”.
Ms Jackson said the construction and retail industries will start to return to usual as soon as lockdown ends.
“A lot of those jobs will just come straight back,” she told Dee Dee.
While the education industry will take longer to recover, Ms Jackson predicts it will return to business as usual within 18 months.
“Victoria is very much the education state,” she said.
“That market is going to be there, overseas people are still going to want to come to Victoria to study and to learn.
“But it’s going to be a tough 12 to 18 months for that sector.”
Ms Jackson said there’s one key lesson from the 1990 recession our governments should keep in mind.
“There is going to be a really important role of government,” she said.
“Private sector is important and it needs to be supported but the government is going to have to lead the job creation.”
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