Jobless rate jumps; possibly “past the worst”

18 June 2020

 

Summary: Jobless rate rises above 7%; April job losses revised up; unemployment more than expected but less than in April; participation rate continued falling as former workers give up; work hours fall less than employment; underemployment rate eases.   Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit a low of 4.9%. It then averaged around 5.2% through to March 2020, bouncing...

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