EY's Cherelle Murphy on supply side shocks and the 'Taylor Swift of economics'
The EY chief economist Cherelle Murphy is as fascinated with the labour market today as she was when she first came to Australia. But she says businesses today face vastly different challenges.
Cherelle Murphy was 12 years old when a 15,000 kilometre trip across the world placed her in the middle of a recession.
Her family had migrated to Perth from Scotland in February 1989. Murphy was 12 and remembers, firstly, getting badly sunburnt. She then reflects on the huge excitement her family had for their new homeland.
“I remember coming here with my family with a huge amount of optimism about a new kind of life and everything was going to be rosy,” she says.
This optimism was short-lived. They’d landed in the middle of a challenging time for the economy. The unemployment rate was about to rise from 6% to 11% in the space of a few years.
