Tim Gurner: Rich Lister boss issues a grovelling apology after declaring unemployment needs to rise by 50 per cent because workers are ‘paid too much’ and ‘too arrogant’

Multi-millionaire property developer Tim Gurner has apologized after calling workers ‘arrogant’ and saying the unemployment rate needs to rise by 40 to 50 per cent.

The Gurner Group CEO argued that the Covid pandemic had changed the attitude of employees who had to remember that they worked for their bosses – and not the other way around.

“We need to see pain in the economy,” Gurner said at the Australian Financial Review’s Property Summit on Tuesday.

The Rich Lister said: ‘We need to remind people that they work for the employer, not the other way around.’

A 50 percent increase from the current unemployment rate of 3.7 percent to 5.6 percent would see 275,000 Australians lose their jobs.

His comments sparked a barrage of scathing criticism online, especially on the social networking site LinkedIn.

The 41-year-old told Daily Mail Australia on Thursday that he regretted the “insensitive” comments.

“At the AFR Property Summit this week I made some comments about unemployment and productivity in Australia that I deeply regret and were wrong,” he said in a statement.

‘There are clearly important conversations to be had in this environment of high inflation, price pressure on housing and rental prices due to a lack of supply, and other cost of living issues.

“My comments were deeply insensitive to workers, traditions and families across Australia who are being affected by these cost of living pressures and job losses.

“I want to be clear: I appreciate that when someone loses their job it has a profound impact on them and their families, and I sincerely regret that my words did not convey empathy for those who found themselves in that situation.”

Mr Gurner told the Australian Financial Review’s Property Summit on Tuesday (pictured) that the unemployment rate needs to rise by 50 per cent ‘so workers remember they work for their bosses, not the other way around’

Ashadi Hopper, the director of digital consultancy AH&O Advisory, called out Mr Gurner for his comments on the need for ‘pain’ in the economy

Fellow businessmen have lashed out at Mr Gurner for his controversial comments, including the CEO of a US edible cannabis company, Spence Rodgers

Australian Medical Association president Professor Steve Robson said Mr Gurner had made a “breathtakingly irresponsible statement”.

‘Unemployment is associated with a range of adverse health outcomes, including suicide. I say this with some confidence, having studied suicide and unemployment,” he tweeted.

Another Twitter user accused Mr Gurner of displaying a “gross display of unbridled arrogance”.

‘Tim Gurner’s arrogance is absolutely breathtaking, I watched it twice and still couldn’t believe what I was hearing!’ said another.