Re:Australia unemployment to soar to 11.1% by June
by BLKNSLVR on Tuesday March 24, 2020 @02:41AM
(#22672551)
First day after mandatory shutdown of various businesses where people congregate in a "disorganized" manner, and Centrelink (Government service for the unemployed - to put it very crudely) has massive queues and the website crashes due to overload[0]
Article linked to specifically says:
"The Government is estimating at least 1 million people could be made unemployed, joining the 700,000 people already receiving unemployment benefits.
That could take Australia's unemployment rate from 5.1 per cent to closer to 15 per cent."
700k unemployed = 5.1%
1.7m unemployed = 15.0%
Therefore employable population is between 11.3m and 13.7m
Article linked to specifically says:
"The Government is estimating at least 1 million people could be made unemployed, joining the 700,000 people already receiving unemployment benefits.
That could take Australia's unemployment rate from 5.1 per cent to closer to 15 per cent."
Therefore employable population is between 11.3m and 13.7m[0]https://www.abc.net.au/news/2020-03-24/centrelink-minister-s...