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Nearly 600,000 jobs lost in a month

Matthew Cranston

Australia's unemployment rate jumped to 6.2 per cent in April as the economy shed 594,300 jobs in the COVID-19 pandemic.

The job losses exceeded economists' expectations of a decline of some 550,000. It was the biggest monthly fall in employment since records started being kept in 1978. The jobless rate rose to 6.2 per cent from the month-earlier 5.2 per cent.

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Matthew Cranston was The Australian Financial Review’s United States correspondent.

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    Original URL: https://www.afr.com/policy/economy/jobless-rate-hits-6-2pc-20200514-p54sub