Australia's jobless rate predicted to hit 10 per cent because of COVID-19

The jobless rate is expected to hit its highest levels in decades as a result of the coronavirus pandemic, but won't be as bad as feared.

The federal government's coronavirus supplement will be cut by $300 from 25 September. Source: AAP

Australia's jobless rate is tipped to nearly double to 10 per cent for the June quarter because of the coronavirus pandemic, new Treasury analysis shows.

But Treasury estimates the unemployment figure could have hit 15 per cent without the $130 billion JobKeeper payment.

In February, before the pandemic led to major shutdowns and mass standdowns of workers, the jobless rate was 5.1 per cent.

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