The Real Unemployment Figures
20 May 2020
Australia's unemployment figure rose to
6.2% in the latest announcement, with 600,000 jobs lost so far due to the coronavirus shutdown. Despite being the steepest monthly rise on record, according to many experts, the real shape of employment is much worse due to the artificial nature of the JobKeeper package, the record number of underemployed people, and the sharp rise in people not even looking for work.
Young people are experiencing even tougher conditions, with the casual workforce, hospitality sector, and gig economy all likely to suffer further in 2020 and beyond.