Australia’s unemployment rate: State virus border closures hurting jobs

Treasurer Josh Frydenberg is digging in over plans to slash the value of JobKeeper despite his own prediction that the ‘real’ rate of unemployment is set to hit 13 per cent.

Australia’s ‘real’ unemployment rate is set to soar as state borders remain closed and Victoria emerges from a second lockdown according to new Treasury figures.

But Mr Frydenberg told the Today show on Monday that did not mean it was time to reconsider the plan to slash the value of JobKeeper payments.

Read more: https://www.news.com.au/finance/economy/australian-economy/australias-unemployment-rate-state-virus-border-closures-hurting-jobs/news-story/f1ebbd625d892bf5b1e8666bdde97466