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The Times

Were it not for JobKeeper, unemployment would be 11.7%, up from 5.2% in one month. Here's how the numbers pan out

  • Written by Jeff Borland, Professor of Economics, University of Melbourne
Were it not for JobKeeper, unemployment would be 11.7%, up from 5.2% in one month. Here's how the numbers pan outABS

After all the forecasts and speculation, now we know the worst.

Today’s numbers from the Australian Bureau of Statistics lay out the catastrophic impact of COVID-19 on the Australian labour market.

Total hours worked fell 9.2% – in just one month, between March and April.

Percentage fall in hours worked

Were it not for JobKeeper, unemployment would be 11.7%, up from 5.2% in one month. Here's how the numbers pan outMonths from start of recession.Au...

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