At list 600,000 Australians citizens misplaced their jobs as the coronavirus shutdown took hold in April, the steepest monthly decline since records began more than 40 years ago, data revealed.
The Australian Bureau of Statistics (ABS) announced over 100,000 people already filed for unemployment benefits from the government, while a further 500,000 left the workforce entirely.
Australian PM Scott Morrison announced the figure is “terribly shocking”, with the ABS recording the underutilization rate. which connects unemployment and underemployment touched a record high of 19.9 percent in Last April.
The ABS said 2.7 million people or one in five Australian workers has either left the workforce or had their work hours decreased as the country recorded an “unprecedented fall” in the workforce participation rate to 63.5 percent. The drop in the cooperation rate meant unemployment rose one percentage point to 6.1 percent, well short of forecasts of more than eight percent.
Just 12.4 million Australians now have jobs after the steepest monthly fall in employment since the ABS began recording monthly data in 1978.
