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For April 2020 update kindly check:
https://www.expatforum.com/expats/a...onsider-job-market-future-rba-prediction.html

For May 2020 update kindly check:
https://www.expatforum.com/expats/a...ia/1502662-aus-job-market-may2020-update.html


SUMMARY:
Pre-COVID “normal” unemployment rate = 5%
April end unemployment rate = 6.2%
May end unemployment rate = 7.1%
June end unemployment rate = 7.4%

Total jobs lost @ April end = 600,000
Total jobs lost @ May end = 838,000
Total jobs lost @ June end = 992,300


DETAILS:
Australia is recording it’s highest unemployment rate for 22 years, raising fears the “COVID-19 economic recession” will dampen prospects of an early recovery from previous dents e.g., bushfires & drought to name a couple.

Australia’s effective unemployment rate stands around 13.3 per cent, Treasurer Josh Frydenberg says.

“The official unemployment rate is 7.4 per cent, and the market is expecting for that to go a bit higher later this week. The effective unemployment rate takes into account not only those who are officially unemployed by also those who have left the labour force altogether as well as those on zero hours, and that is around 13.3 per cent right now.”

Total employment improved over the month of June compared to May, with 210,800 Australians finding some form of employment, mostly part-time employment, however full-time employment fell by another 38,100 jobs in the same period.


SO...
Goodluck to all young people, professionals, part time workers & especially to new arrivals!
 
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