Published.
April 13, 2020 22: 30:25
Unemployment is set to skyrocket to its highest rate in nearly three decades, with 1.4 million Australians anticipated to be out of work.
Bottom line:
- The joblessness rate will increase from 5.1 per cent to 10 percent in the June quarter, according to Treasury figures
- But price quotes reveal the rate would have been higher without the JobKeeper program
- The Treasurer said the financial shock from coronavirus was set to be even more substantial than the global