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09/04/20

16:21

Post #: 43977382
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Originally posted by db_nolan: ↑

Real unemployment rate 16.8%
The jobless rate doubled in March leaving more Australians out of work than during the recession of the early 1990s, according to the first job market survey since governments introduced tough social distancing rules.

Research group Roy Morgan, which has a broader definition of unemployment than the ABS, estimated that the unemployment rate surged from 7.8 per cent in early March to 16.8 per cent by the end of the month.

“Unemployment more than doubled in a matter of days, up by a staggering 1.4 million to 2.4 million in the second half of March compared to the first,” said chief executive Michele Levine. “This is far more Australians looking for work than was the case during the last recession in 1990-91,” she said.

Source: Business Review

How has this made zero effect on the markets?

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