Section 1:2021 Economic Outlook (5 marks total)

In this section, provide an outlook for the Australian economy for 2021 focusing on the nation's recovery from COVID-19. Things that you should include in your outlook are:

• An overview of the key industries within the Australian economy and a brief summary for each industry to show whether they have been impacted by COVID19 and if so how they have been impacted. Your answer should include reference to sources that support claims you make here.
• Provide a summary that identifies actions and policy responses taken by the government that aim at supporting the recovery of the Australian economy from COVID-19. Within your answer show evidence of how measures have been received by industry and/or any indications regarding their effectiveness.

Section 2: Measuring Economic Activity (10 marks total)

In this section you will prepare charts and conduct analysis of a dataset to show evidence of changes in Australia's economic performance. In this section address the following:

• Using the employment data provided in the Assignment 1 Excel file, generateONEExcel chart showing Australia's monthly unemployment rate over 2020. In your chart show the overall unemployment as well as the unemployment rate for both males and females. Make sure your chart has clearly labelled axes and include a chart title.
• Using the employment data contained within the Excel file, briefly analyse gender differences (and similarities) associated with the employment in 2020. In your answer discuss implications associated with impact of COVID-19 and relevant government assistance associated with Job Keeper.
• Using the chain volume measures of GDP data provided in the Assignment 1 Excel file, identify the 3 specific industries which in Q1 and Q2 of 2020 experienced the largest decreases in their growth rates and state their respective declines in the growth rate.
• Using the chain volume measures of GDP data provided in the Assignment 1 Excel file, identify the 3 specific industries which in Q3 and Q4 of 2020 experienced the largest increases in their growth rates and state their respective increases in the growth rate.
• Using the chain volume measure of GDP data provided in the Assignment 1 Excel file, generateONEpie chart to show the contributions that each of the key industrial sectors (A to S) contributed to Australia's overall GDP in Q1 for 2021.

Section 3: Recommendations (5 marks)

You now need to conclude your report with 2 recommendations. In light of what you have prepared in the earlier sections, provide 2 key recommendations for the government minsters who will be using your report. These two recommendations should be focused on what you think the government should be doing to aid the distinct but complimentary objectives of economic recovery from COVID-19 and long-term economic prosperity.

Civilian population Civilian population Civilian population Labour force total ; > Labour force total ; > Participation rate ; Participation rate ; > Participation rate ; > Not in the labour force Not in the labour force Not in the labour force aged 15 years and aged 15 years and aged 15 years and Males ; Females ; Persons ; Males ; Females : (NILF) ; Persons ; (NILF) : > Males ; (NILF) ; > Females over ; Persons ; over ; > Males ; over ; > Females ; WND Unit 000 000 Percent Percent Percent 000 000 000 000 000 000 Series Type Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Original Original Original Original Original Original Data Type STOCK STOCK PERCENT PERCENT PERCENT STOCK STOCK STOCK STOCK STOCK STOCK Frequency Month Month Month Month Month Month Month Month Month Month Month Collection Month Series Start Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 Feb-1978 8 Series End Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 Jun-2021 No. Obs 521 521 521 521 521 521 521 521 521 521 521 10 Series ID A84423033X A84423061J A84423051C A84423037J A84423065T A84423090V A84423076X A84423104W A84423091W A84423077A A84423105X 11 Dec-2019 7207.9 6446.8 65.9 70.9 61.1 6966.2 2913.3 4052.9 20729.8 10171.9 10557.9 12 Jan-2020 7208.5 6501.5 66 0 70.8 61.5 7157.0 3009.6 4147.3 20763.3 10187.6 10575.7 13 Feb-2020 7216.6 6481.7 65.9 70.7 61.2 6982.9 2921.3 4061.5 20796.8 10203.3 10593.5 14 Mar-2020 7225.0 6493.4 65.9 70.7 61.2 7060.2 2960.6 1099.6 20830.3 10219.0 10611.3 15 Apr-2020 7035.6 6212.3 63.6 68.8 58.5 7576.0 3178.4 1397.6 20838.4 10222.9 10615.5 16 May-2020 6950.5 6103.9 62.6 68.0 57.5 7751.1 3267.2 1483.9 20846.4 10226.7 10619.7 17 Jun-2020 7073.4 6285.8 64.1 69 1 59.2 7496.5 3163.3 4333.3 20854.5 10230.6 10623.9 18 Jul-2020 7128.7 6355.2 64.7 69.7 59.8 7385.5 3105.7 4279.8 20852.4 10229.3 10623.1 19 Aug-2020 7149.3 6393.3 65.0 69.9 60.2 7365.0 3111.8 4253.2 20850.3 10227.9 10622.3 20 Sep-2020 7123.4 6384.6 64.8 69.7 60.1 7371.2 3108.6 4262.7 20848.1 10226.6 10621.5 21 Oct-2020 7230.2 6463.4 65.7 70 7 60.8 7207.8 3022.7 4185.1 20852.1 10228.2 10623.9 22 Nov-2020 7261.1 6512.0 56.0 71.0 61.3 7097.1 2982.3 4114.9 20856.1 10229.8 10626.3 23 Dec-2020 7259.5 6516.8 66.0 71.0 61.3 6988.8 2924.6 4064.2 20860.1 10231.4 10628.7 24 Jan-2021 7276.9 6500.2 66.0 71.1 61.1 7190.9 2992.1 4198.8 20862.1 10231.8 10630.3 25 Feb-2021 7252.8 6527.8 66.0 70.9 61.4 6960.2 2912.6 4047.7 20864.2 10232.3 10631.9 26 Mar-2021 7253.3 6575.2 66.3 70.9 61.8 6983.3 2944.2 4039.1 20866.2 10232.7 10633.5 27 Apr-2021 7242.5 6521.6 65.9 70.7 61.3 7092.1 2977.8 4114.3 20876.0 10236.8 10639.1 28 May-2021 7259.4 6566.9 66.2 70.9 61.7 7006.2 2964.9 4041.3 20885.7 10241.0 10644.7 29 Jun-2021 7271.8 6561.6 66.2 71.0 61.6 7059.8 2977.1 4082.6 20895.4 10245.1 10650.3 30 31 32 Chain volume measures GDP Employment +Electricity, gas, water Information media and Financial and Agriculture, forestry and waste services Accommodation and Transport, postal and telecommunications insurance services (K) Rental, hiring and real and fishing (A) ; Mining (B) ; Manufacturing (C) ; (D) Construction (E) ; Wholesale trade (F) ; Retail trade (G) ; food services (H) ; warehousing (1) ; (J ) ; estate services (L) ; Unit $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions Series Type Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Data Type DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED Frequency Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Collection Month 3 3 3 3 3 Series Start Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Series End Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 No. Obs 187 187 187 187 187 187 187 187 187 187 187 187 10 Series ID A2716160J A2716163R A2716166W A2716175X A2716179J A2716180T A2716181V A2716182W A2716183X A2716188K A2716189L A2716190W 75 Dec-2015 10735 42928 27252 11737 36040 16460 18907 10554 20940 9407 38512 13234 76 Mar-2016 10545 14064 27044 11640 35641 16506 19006 10742 20887 9472 38953 13160 77 Jun-2016 10936 43146 27277 11704 35163 16994 8975 10843 21075 9453 39227 13716 78 Sep-2016 11257 43227 27232 11563 34255 17249 8936 10861 21347 9458 39320 13337 79 Dec-2016 12161 44039 27226 11659 34285 17525 19137 10513 21519 9517 39686 13675 80 Mar-2017 12507 13881 26769 11804 34802 17572 19208 10686 21916 9646 39807 14002 81 Jun-2017 11435 14338 27533 11708 35111 17557 19421 10952 21774 10000 40184 14077 82 Sep-2017 11983 44655 27780 11858 35611 17699 19550 10997 22020 10070 40270 13647 83 Dec-2017 10832 4520 27412 11872 36434 17667 19634 11026 21867 10424 40134 13822 84 Mar-2018 11423 47105 27853 11854 36278 17733 19720 10858 21986 1042 40108 13708 85 Jun-2018 11860 47012 27944 12079 37091 17938 19880 11039 22311 10635 40332 13913 86 Sep-2018 11129 47117 27867 12070 36380 17910 19923 11088 22170 10478 40868 14102 87 Dec-2018 10287 47904 27577 11936 36176 17939 19911 10992 22438 0803 4091 13901 88 Mar-2019 0213 18540 27488 12055 36113 18043 19872 10967 22473 0775 41077 13927 89 Jun-2019 9799 19404 27285 12026 35700 17957 19853 11246 22502 10977 41259 14059 90 Sep-2019 9695 50778 27141 11918 35803 17870 19856 11318 22422 11056 41437 14091 91 Dec-2019 9457 50729 27542 11947 35165 17817 19865 11292 2288 11052 41554 14474 92 Mar-2020 94 10 5039 28017 11698 34859 18092 20181 10394 21764 11096 41789 14231 93 Jun-2020 9347 50448 25685 11515 32141 17049 19274 6449 1717 0192 42333 12023 94 Sep-2020 9478 49357 26771 11578 32920 17934 20371 9169 17919 10778 42757 12946 95 Dec-2020 12276 48930 27090 11629 33122 18674 21111 9870 19112 11384 42802 13807 96 Mar-2021 12627 19257 27893 11529 34574 19223 20905 10379 20070 11165 42885 14543 Chain volume measures GDP Employment +Professional, scientific and Health care and technical services (M) Administrative and Public administration Education and social assistance (Q) Arts and recreation Ownership of Gross value added at Taxes less subsidies Statistical GROSS DOMESTIC services (R) ; discrepancy (P): support services (N) ; training (P); Other services (S) dwellings basic prices ; PRODUCT: and safety (O) ; on products $ Millions Unit $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions $ Millions Series Type Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted Seasonally Adjusted DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED Data Type DERIVED DERIVED Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Frequency Quarter 3 3 3 3 3 3 3 Collection Month Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1974 Sep-1959 Series Start Sep-1974 Sep-1974 Sep-1974 Sep-1959 Sep-1974 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Mar-2021 Series End Mar-2021 Mar-2021 Mar-2021 9 No. Obs 187 187 187 187 187 187 187 187 187 187 247 247 10 Series ID A2716191X A2716585R A2716192A A2716193C A2716194F A2716195. A2716196K A2529209F A2303469X A2323353V A2303471K A2304402X 75 Dec-2015 28140 14277 23803 21790 28502 3558 7943 3675 421218 3049 -98 451631 76 Mar-2016 28461 14369 24504 21872 28582 3605 7927 37004 424020 31429 -31 455437 8248 37269 427090 32045 -421 458738 77 Jun-2016 29083 14722 24211 21929 29218 3630 78 Sep-2016 29155 14609 23831 21993 29732 3632 7956 37545 426733 31691 856 459304 14552 24216 22037 30001 3624 8366 37808 131799 31323 786 463916 79 Dec-2016 30217 80 Mar-2017 30497 14905 24178 22089 30441 3626 8086 38045 434783 31272 952 465107 -690 468291 81 Jun-2017 30935 5335 24 108 22149 30697 3613 8004 3825 437417 31556 473082 82 Sep-2017 31173 15406 22216 278 24068 31386 3652 8153 38445 441037 32316 83 Dec-2017 31714 15589 24297 22323 31784 3717 8211 38656 442913 31604 796 475316 84 Mar-2018 32006 16050 24654 22454 32508 3749 8254 38887 447385 31502 489 479387 85 Jun-2018 32684 16198 24847 22611 32735 3794 8426 39140 452532 32050 1008 483592 86 Sep-2018 32957 16321 24936 22797 33597 3827 8478 39427 453507 31966 339 485830 87 Dec-2018 32879 16439 25441 22955 34 142 3921 8371 3968 454614 31320 642 486585 33435 16893 25437 23086 34817 4020 8564 39919 457521 31215 -183 488549 88 Mar-2019 89 Jun-2019 34058 17047 25968 23190 35442 4013 8755 40121 460783 31754 -798 491716 31664 -353 495109 90 Sep-2019 34415 17053 26425 23262 36334 4022 8603 40300 463798 226 91 Dec-2019 34628 16865 26756 23325 36917 3978 8623 40487 465361 31426 497013 34956 16379 27383 23379 36874 3869 8317 40668 463750 31362 451 495564 92 Mar-2020 93 Jun-2020 32854 13318 27547 23430 33894 2941 6948 40843 435409 26234 -608 461035 94 Sep-2020 33655 13261 27900 23485 36912 3365 7363 41007 448924 28465 413 476976 35126 14457 28123 23538 37907 3632 7994 41184 461769 30951 450 492269 95 Dec-2020 35549 14733 27926 23620 38357 3838 8455 41368 468894 32453 -282 501065 96 Mar-2021 Chain volume measures GDP Employment +