Economic impact from Victoria 'severe'

The prime minister says Treasury's upwardly revised forecast for unemployment to 10 per cent as a result of Victoria's restrictions is a "heavy blow".

A closed shop in Melbourne (file image)

Victoria's ramped-up coronavirus restrictions is expected to push up the jobless rate. (AAP) Source: AAP

Another 400,000 people are expected to lose their jobs as a result of Victoria's virus lockdowns, pushing the national unemployment rate up to 10 per cent.

Treasury also expects economic growth will be slashed by $12 billion in the September quarter.

Read the full article in English


Share
1 min read
Published 6 August 2020 2:47pm
By SBS News
Presented by Justin Sungil Park
Source: SBS


Share this with family and friends