State of the economy
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
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
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
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
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
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
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
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.
COVID-19 RESEARCH
Read Essential's ongoing research on the public response to Covid-19.
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Two Party Preferred:
In this week's report:
- Performance of Scott Morrison
- Performance of Anthony Albanese
- Preferred Prime Minister
- Top Federal Government priorities for 2021
- Uptake of a Covid-19 vaccine
- Perceptions of change in the standard of living for Aboriginal and Torres Strait Islander peoples
- Changing views towards Australia Day
- Support towards a separate national day
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