Major hit, big job losses ahead: RBA

Original article by Patrick Commins
The Australian – Page: 4 : 20-Mar-20

Reserve Bank governor Philip Lowe says the unemployment rate can be expected to rise in coming months, as the coronavirus is likely to result in "significant" job losses. However, he says the labour market should rebound quite fast if the virus’s outbreak in Australia can be contained. Lowe also said the virus and measures to combat its spread will have a "severe" impact on the economy, although he is hopeful that this will be temporary. Lowe has indicated that housing market activity is likely to be affected by the pandemic.


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