Australia's unemployment rate has risen to 7.4 per cent in June, which is the highest since November 1998.
Australia's unemployment rate has risen to 7.4 per cent in June, which is the highest since November 1998. The Australian Bureau of Statistics said 992,000 Australians are now formally unemployed, with the underemployment figures expected to be much higher. Mr Morrison told reporters on Thursday, despite the havoc wreaked by the COVID-19 pandemic, the economy is "fighting back." "The majority of jobs obviously were part-time employment, not full-time employment," he said.
"That’s to be expected in the economic situation that we’ve seen emerge over these many months but what I’m encouraged by about is that the flexibility we’ve seen in the labour force has meant that it’s been able to keep people in jobs, maybe not as many hours as they once had but they are still in jobs." Mr Morrison conceded the recent spike in COVID cases may impact the jobless rate in July.
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