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Aus set for 2nd Covid-19 unemployment spike: Treasurer
TIWN
Aus set for 2nd Covid-19 unemployment spike: Treasurer
PHOTO : TIWN

Canberra, Aug 24 (TIWN) Australian Treasurer Josh Frydenberg on Monday said an analysis has found that the country's effective unemployment will top 13 per cent again in the coming months due to the Covid-19 pandemic.

Effective unemployment takes into account jobless people looking for work, those who have stopped looking for work and people who are technically employed but are working zero hours, reports Xinhua news agency.

The figure was 9.9 per cent in July, down from a peak of more than 14 per cent in April, compared to an official unemployment rate — which only measures unemployed people actively looking for work — of 7.5 per cent.

Frydenberg said that the figure would spike again with up to 400,000 people in the Victoria expected to lose their jobs as a result of the worst-hit state’s second lockdown and that’s why “it is vitally important we get the virus under control”.

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