Australian Firms Need Targeted Support: Industry Group

The transcript discusses the impact of lockdowns on the Victorian economy, emphasizing the need for more localized solutions to prevent economic damage. It highlights the importance of government support for businesses, particularly through the JobKeeper program, to mitigate a potential second economic wave. The discussion also covers the mixed economic recovery in Australia, with some sectors thriving while others struggle, and the suppressed wage growth due to low inflation and productivity. The future of JobKeeper is deemed crucial for economic stability, with businesses needing clarity to plan their recovery strategies.

How do low inflation and low productivity growth affect wage growth according to the text?

What concerns are raised about the future of the JobKeeper program?

What is the significance of the next three months for Australia's economic recovery?