RBA predicts 1 million job losses by end-June
The Reserve Bank is expecting the highest rate of unemployment in the June quarter since 1994, and that is despite the introduction of the JobKeeper payment, which is said to have “significantly” reduced the number of job losses.
The unemployment rate will climb by 1 million at the end of the June quarter to around 10 per cent, alongside an expected drop in total hours worked by around 20 per cent, according to the RBA’s latest economic projections.
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