State of the economy

Sep 22, 2020

Q. Overall, how would you describe the current state of the Australian economy?

  Sep’20 Sep’19 May’18 Nov’17 May’17 Dec’16
Very good 8% 5% 8% 3% 3% 2%
Quite good 16% 27% 31% 30% 27% 21%
Neither good, nor poor 30% 32% 32% 38% 36% 37%
Quite poor 32% 25% 18% 17% 23% 28%
Very poor 14% 8% 6% 7% 6% 8%
Unsure 2% 3% 5% 5% 5% 4%
NET: Good 23% 32% 39% 33% 30% 23%
NET: Poor 46% 33% 24% 24% 29% 36%
Base (n) 1,081 1,097 1,033 1,021 1,007 1,001

 

  Total Gender Age
Male Female 18-34 35-54 55+
Very good 8% 11% 4% 9% 12% 1%
Quite good 16% 18% 13% 21% 16% 11%
Neither good, nor poor 30% 28% 31% 34% 30% 26%
Quite poor 32% 30% 33% 23% 29% 41%
Very poor 14% 12% 16% 9% 12% 20%
Unsure 2% 1% 2% 3% 1% 1%
NET: Good 23% 29% 17% 30% 28% 12%
NET: Poor 46% 42% 49% 33% 41% 61%
Base (n) 1,081 539 542 338 374 369

 

  Total Federal Voting Intention
Labor Coalition Greens Independent / Other
Very good 8% 4% 10% 7% 9%
Quite good 16% 13% 20% 13% 13%
Neither good, nor poor 30% 26% 29% 33% 29%
Quite poor 32% 38% 28% 34% 33%
Very poor 14% 18% 12% 12% 16%
Unsure 2% 1% 1% 2% 0%
NET: Good 23% 17% 30% 19% 22%
NET: Poor 46% 56% 39% 46% 49%
Base (n) 1,081 298 460 115 104
  • Rating of the state of the economy has fallen in the last year in the wake of the Covid-19 pandemic. Now 23% of people the state of the economy as very or quite good, down 9%pts from 32% last year. Over the same time those rating the economy as poor (very/quite) has increased from 33% to 46%.
  • Those most pessimistic about the state of the economy include women (17% rating very/quite good, down from 30% last year), people aged over 55 (12%, down from 31% last year) Labor voters (17%) and Greens voters (19%).
  • Rating of the economy among Coalition voters has dropped from 45% very/quite good in Sep’19 to 30% this year.

Indictors of whether the Australian economy is in a good or poor state

Sep 22, 2020

Q. Which of the following indicators do you think is the most important when thinking about whether the Australian economy is in a good or poor state?

  Sep’20 Sep’19
The unemployment rate 39% 25%
The cost of household bills 13% 22%
The value of the Australian dollar to international currencies 12% 13%
The amount of homeless people on the streets 8% 10%
The interest rate set by Reserve Bank of Australia 6% 9%
The gross domestic product per person 7% 8%
The consumer price index 6% 6%
The size of the national surplus 6% 6%
The number of new shops, restaurants and cafes opening 3% 2%
Base (n) 1,081 1,097

 

  Total Gender Age
Male Female 18-34 35-54 55+
The unemployment rate 39% 34% 44% 38% 42% 38%
The cost of household bills 13% 12% 14% 14% 14% 11%
The value of the Australian dollar to international currencies 12% 13% 10% 19% 9% 8%
The amount of homeless people on the streets 8% 10% 7% 9% 9% 7%
The interest rate set by Reserve Bank of Australia 6% 5% 6% 2% 7% 8%
The gross domestic product per person 7% 9% 5% 4% 6% 10%
The consumer price index 6% 8% 4% 8% 5% 5%
The size of the national surplus 6% 5% 8% 4% 5% 9%
The number of new shops, restaurants and cafes opening 3% 4% 3% 3% 3% 4%
Base (n) 1,081 539 542 338 374 369
  • People rating the unemployment level as the key indicator for a healthy economy has increased in the past 12 months from 25% to 39% while the cost of household bills has fallen from 22% to 13%. All other indicators remain consistent.

Support for extension of JobKeeper and JobSeeker schemes

Jul 28, 2020

Q. On Tuesday July 21st, the government announced that JobKeeper payments and the increase to JobSeeker will be extended to March 2021 but that the rates for each will be reduced in October, and again in January. Eligibility for JobKeeper will remain the same, meaning that casual workers will not receive support.

To what extent do you support or oppose the changes to these schemes?

  TOTAL: Support TOTAL: Oppose Strongly support Somewhat support Neither support nor oppose Somewhat oppose Strongly oppose
Businesses having to be re-tested for JobKeeper to ensure they are still eligible 69% 9% 37% 33% 22% 6% 2%
The continuation of payments to March 2021 66% 12% 31% 35% 22% 8% 5%
The reduction in the amount of payments 54% 21% 22% 33% 25% 12% 9%

 

    Voting intention
NET: Support Total Labor NET: Coalition Greens NET: Other
Businesses having to be re-tested for JobKeeper to ensure they are still eligible 69% 70% 76% 58% 72%
The continuation of payments to March 2021 66% 72% 65% 78% 60%
The reduction in the amount of payments 54% 49% 67% 33% 62%
Base (n) 1,058 334 428 81 107

 

  • Extension of the JobKeeper and JobSeeker schemes receives support from a two-thirds majority (66%). While the reduction of payments is supported by just over half (54%), 21% oppose this decision.

Management of the economy

Oct 7, 2014

Q. How would you rate the government’s management of the Australian economy compared to how governments in other countries around the world have managed their economies? 

 

Total

 

 

Vote Labor

Vote Lib/Nat

Vote Greens

Vote other

 

May 2013

May 2014

Total Good

39%

21%

68%

25%

19%

39%

40%

Total Poor

28%

44%

7%

52%

38%

32%

31%

Very good

11%

5%

22%

4%

2%

11%

9%

Good

28%

16%

46%

21%

17%

28%

31%

Neither good nor poor

28%

31%

24%

18%

34%

24%

24%

Poor

15%

22%

6%

20%

20%

17%

14%

Very poor

13%

22%

1%

32%

18%

15%

17%

Don’t know

5%

3%

1%

4%

9%

5%

5%

39% of Australians would rate the government’s management of the economy, compared to other countries around the world, as good.

28% would rate their management of the economy as poor.

There have been no major shifts in attitudes since this question was asked in May.

Labor (21%), Greens (25%) and other (19%) voters were less likely to rate the government’s management of the economy as ‘good’. Lib/Nat voters (68%) were more likely to rate the government’s management of the economy as ‘good’.

47% of those earning $1,600+ pw rate the government’s management ‘good’ and 35% of those earning less than $1,000 pw rate it ‘poor’.

Foreign investment

Aug 26, 2014

Q. Do you think investment in mining and ports by Chinese companies is good or bad for the Australian economy?

  

Total

 

 

Vote Labor

Vote Lib/Nat

Vote Greens

Vote other

Total good

38%

37%

50%

34%

29%

Total bad

36%

34%

30%

38%

52%

Very good

6%

7%

7%

4%

4%

Good

32%

30%

43%

30%

25%

Bad

22%

24%

18%

24%

28%

Very bad

14%

10%

12%

14%

24%

Don’t know

26%

29%

20%

28%

20%

38% think that investment in mining and ports by Chinese companies is good for the Australian economy and 36% think it is bad.

Liberal/National voters are more likely to think it is good for the economy (50%), while Labor and Greens voters are almost evenly divided on this issue.

Those most likely to think it is good for the economy were men (48%) and full-time workers (46%). Those most likely to think it is bad were aged 55+ (46%).

Australian economy heading in right or wrong direction

Aug 19, 2014

Q. From what you have read and heard, do you think the Australian economy is heading in the right direction or the wrong direction?

 

 

May 2010

May 2011

Jun 2012

Apr 2013

Sep 2013

Jan 2014

Apr 2014

 

Total

 

 

Vote Labor

Vote Lib/ Nat

Vote Greens

Vote other

The right dir-ection

51%

45%

43%

36%

44%

38%

39%

35%

24%

56%

26%

23%

The wrong dir-ection

25%

29%

32%

39%

26%

33%

34%

41%

54%

22%

54%

54%

Don’t know

24%

25%

25%

25%

30%

29%

26%

24%

22%

22%

19%

23%

35% of respondents think that Australia’s economy is heading in the right direction and 41% think it is heading in the wrong direction. This represents a net change from +5 to -6 since April – and the most pessimistic response recorded over the last four years.

24% (down 1%) of Labor voters, 56% (down 11%) of Liberal/National voters and 26% (up 4%) of Greens voters think the economy is heading in the right direction. 54% of Labor and Greens voters and 50% of those earning less than $600pw think the economy is heading in the wrong direction.

State of the economy

Apr 1, 2014

Q. Overall, how would you describe the current state of the Australian economy?

 

 

28 May 12

8 Apr 13

16 Sep 13

21 Jan 14

 

Total

 

 

Vote Labor

Vote Lib/Nat

Vote Greens

Vote other

Total good

35%

45%

40%

34%

38%

38%

47%

36%

21%

Total poor

29%

26%

25%

26%

24%

24%

18%

24%

46%

Very good

6%

8%

6%

4%

3%

3%

5%

5%

Good

29%

37%

34%

30%

35%

35%

42%

31%

21%

Neither good nor poor

33%

28%

32%

36%

34%

34%

33%

37%

33%

Poor

20%

17%

20%

21%

19%

18%

16%

20%

31%

Very poor

9%

9%

5%

5%

5%

6%

2%

4%

15%

Don’t know

2%

2%

3%

4%

4%

4%

2%

4%

38% described the economy as good or very good and 24% poor/very poor – 34% said it was neither. This represents a net improvement from +8 to +14 since January. The main shift since January was an increase of 7% for “good” and a decrease of 6% for “poor” among Liberal/National voters.

Those most likely to think the economy was good/very good were people with incomes over $1,600pw (42%). Liberal/National voters (47%) were more likely that Labor voters (38%) to think the economy was good.

Australian economy heading in right or wrong direction

Apr 1, 2014

Q. From what you have read and heard, do you think the Australian economy is heading in the right direction or the wrong direction?

 

 

17 May 10

9 May 11

18 Jun 12

29 Apr 13

16 Sep 13

21 Jan 14

 

Total

 

 

Vote Labor

Vote Lib/Nat

Vote Greens

Vote other

The right direction

51%

45%

43%

36%

44%

38%

39%

25%

67%

22%

21%

The wrong direction

25%

29%

32%

39%

26%

33%

34%

43%

15%

50%

61%

Don’t know

24%

25%

25%

25%

30%

29%

26%

32%

19%

29%

18%

39% of respondents think that Australia’s economy is heading in the right direction – 34% think it is heading in the wrong direction. These figures are almost unchanged since this question was asked in January.

25% (up 2%) of Labor voters, 67% (up 4%) of Liberal/National voters and 22% (up 1%) of Greens voters think the economy is heading in the right direction. 45% of men think the economy is heading in the right direction compared to 33% of women.

Pages:1234567»

COVID-19 RESEARCH

Read Essential's ongoing research on the public response to Covid-19.

Download this week's Report

Sign up for updates

Receive the Essential Report in your inbox.
  • This field is for validation purposes and should be left unchanged.