Almost 600,000 Australians lose jobs mainly because virus lockdown bites

Practically 600,000 Australians lost their jobs as the virus shutdown took hold in April, the steepest monthly drop since records started out more than 40 years ago, data showed Thursday.

The Australian Bureau of Figures (ABS) said 100,000 persons filed for unemployment benefits, while an additional 500,000 left the workforce altogether.

Primary Minister Scott Morrison called the statistics "terribly shocking", with the Ab muscles reporting the underutilization fee - which combines unemployment and underemployment - reached an archive most of 19.9 percent in April.

The ABS said 2.7 million persons - or one in five Australian personnel - either remaining the workforce or had their work time reduced as the united states documented an "unprecedented fall" in the workforce participation fee to 63.5 percent. The drop in the participation fee intended unemployment rose one percentage indicate 6.1 percent, well brief of forecasts greater than eight percent.

Only 12.4 million Australians now have jobs following the steepest monthly fall in employment since the ABS started recording monthly info in 1978.

Morrison warned Australians to brace for more difficult financial news in the months ahead, adding: "An extremely tough day time. Terribly shocking, although not unanticipated.

"We knew there will be hard information as the pandemic wreaks a direct effect on Australia since it is normally on countries all over the world."

The Treasury has forecast the unemployment rate will reach ten percent in the June quarter.

Morrison said the quantity of people now included in Jobkeeper, a A$1,500-a-fortnight wage subsidy programme paid to staff via their employers, right now exceeds six million.

Australia has been the most successful countries found in containing COVID-19, with less than 7,000 confirmed conditions and 100 deaths out of a populace of 25 million.

But restrictions on travelling, people gatherings and retail businesses experienced a devastating effect on the economy, slashing some A$4 billion (US$2.5 billion) weekly from economic activity.

Places have begun relaxing the constraints, with some cafes, pubs and restaurants opening to small groups from Friday.