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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Thursday, 04 June 2020

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Job security isn’t there for Australian professionals

By Grace Ormsby · April 21 2020

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Earn

Job security isn’t there for Australian professionals

By Grace Ormsby
April 21 2020

Reading:

Job security isn’t there for Australian professionals

By Grace Ormsby · April 21 2020

Reading:

More than half of Australian workers have reduced their spending since the COVID-19 crisis began in a telling display of low confidence.

The LinkedIn Workforce Confidence Index has revealed that confidence is low amongst Australian professionals, propelled by anxiety around finances, job prospects and job security.

Despite this, confidence is still polling at a +8 on the LinkedIn scale provided that runs all the way from -100 to +100, showing positive sentiment is just outweighing the negatives.

With 36 per cent of Australians polled by the career platform revealing a drop in income and wages, it’s unsurprising that 52 per cent of Australians revealed they have reduced their personal spending during the crisis.

This figure jumps higher among self-employed individuals, where 63 per cent indicated they had tightened their purse strings since COVID-19 effects began.

The survey results show similar caution around job and career prospects, with 65 per cent of respondents stating they expect the number of available roles to decrease over the next two weeks alone, while 55 per cent think recruiter responses will be few and far between in that same period.

This outlook lead nearly one-third (27 per cent) of respondents Australia-wide to indicate they will be increasing their time spent looking for work over the next two weeks.