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Aussie jobless rate could hit 2-decade high as government’s wage bill skyrockets
Australia is among the few fortunate countries that can claim success in quickly containing the spread of the coronavirus. But on Thursday, the latest employment report, due at 1:30 GMT, will reveal what the cost of that success was on the labour market. The number of job seekers is expected to have soared in April. But with the country’s lockdown being slowly relaxed, the primary concern for aussie traders now is how fast the recovery will be. After a surprise increase in employment in March, things are about to get ugly as 575,000 Australians are forecast to have lost their jobs in April. And this is likely to be ... (full story)
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