SYDNEY: Australia posted its biggest monthly jobs decline on record on Thursday (May 14) because of COVID-19 lockdown measures, even as the ...
SYDNEY: Australia posted its biggest monthly jobs decline on record on Thursday because of COVID-19 lockdown measures, even as the country begins to gradually ease those social distancing rules.
That was lower than the 8.3 per cent forecast by economists in a Reuters poll, largely due to a significant decline in the number of people looking for work. Economists said the"jobseeker" payment launched by the government to help businesses retain staff during the crisis had also masked the full impact.
Officials have credited the lockdown measures with constraining the spread of the virus. Australia has recorded about 7,000 COVID-19 cases, including 98 deaths, significantly below the levels reported in North America and Europe.
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