A better than expected surge in jobs of 115,000 in July before the second Victorian lockdowns could see Australia avoid the Reserve Bank and Treasury forecasts of 10 per cent unemployment by the end of the year.
Unemployment rose to 7.5 per cent in July – the highest since November 1998 – but up only marginally from 7.4 per cent in June.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
