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ASX down, jobs report and 4 other things to start your day

The housing crisis is getting worse, especially in remote communities and what on earth is going on with Credit Suisse?

The ASX board showing price changed and people cross a busy crossing in the Sydney CBD.
The ASX is expected to fall this morning. (Source: Getty)


The local share market is expected to fall this morning after Wall Street took a dive overnight.


The Australian Bureau of Statistics is due to release the February unemployment report today.

While last month's report showed 11,500 jobs were lost, this month, economists are expecting to see plenty of heat left in the labour market.

Budget 2023

The next federal budget is fast approaching and cost of living is front and centre, with a leading welfare organisation calling for people on the lowest incomes to be prioritised.

The Australian Council of Social Services released its budget submission, which called for unemployment payments to be raised to at least $76 a day, up from the current $48.

The organisation also urged the government to use the budget to lay foundations for a more inclusive future by investing in long-term, essential social services.

Housing crisis

Australia is in the grip of a national housing and homelessness crisis, and it’s only getting worse.

Data provided from the Department of Communities showed Aboriginal people were evicted from public housing at double the rate of other people in Western Australia. And people are dying while they are homeless.

Meanwhile, the Northern Territory's failure to provide adequate public housing will be examined in the High Court, with implications for the nearly 3 million Australian households that rent.

The question will be whether the territory's government should compensate tenants in the remote community of Santa Teresa for distress caused by lack of reasonable living conditions.

Poverty line

One in six Australian children are living below the poverty line, the Wellbeing of Australia's Children report by UNICEF Australia has found.

The report said that, while the nation's kids were doing well across a range of areas, disadvantage remained.

Bank concerns

Just days after the United States was left reeling from two bank collapses, concerns have been raised over one of the world’s largest banks, Credit Suisse.

Swiss regulators have had to reassure investors that Credit Suisse could access liquidity from the central bank if needed after its stock price fell 24 per cent overnight.

Credit Suisse reported annual revenue of $2.4 trillion in 2022.

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