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Unemployment drops – but it’s not all good news

NSW leads improvements – but VIC could be facing severe headwinds

Source | | John Hilton

Almost half of Australians who lost their jobs during the pandemic have now regained employment, according to new figures released by the Federal Government.

The statistics have shown the country’s effective unemployment rate has dropped from 14.9% in April to 9.9%, however the Government has warned unemployment will increase again.

Approximately 1.3 million Australians lost their job during the height of the pandemic, but now almost 700,000 people are employed again. Most of these jobs have been created in NSW, with 315,000 people finding employment.

Treasurer Josh Frydenberg said the country is really at two stages when it comes to dealing with COVID-19 – “there’s Victoria and there’s the rest”.

“When you look at the rest of the country, restrictions are being eased as the virus is being got under control and jobs are coming back, and we’ve seen in the last two months some 340,000 new jobs being created and importantly that’s been right around the country,” Frydenberg told 5AA Adelaide.

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