Australia poised for surge in coronavirus-fuelled unemployment

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Australia is expected to post its biggest ever monthly rise in unemployment on Thursday because of coronavirus lockdown measures, even as the country begins to gradually ease those social distancing rules.

FILE PHOTO: Seats are marked off for social distancing at Westmead Hospital amidst the spread of the coronavirus disease in Sydney, Australia, May 12, 2020. REUTERS/Loren Elliott

“It will be a horrible set of numbers,” said Gareth Aird, senior economist at the Commonwealth Bank of Australia. Australia imposed strict social distancing measures in March to tackle the pandemic, closing its borders to all non-citizens and ordering people to stay home unless on essential business. Pubs, sports centres, libraries and other public buildings were closed while cafes and restaurants were restricted to takeaway services.

New South Wales, Australia’s most populous state, on Thursday reported just four new cases ahead of the lifting of some restrictions on Friday.

 

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