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Employment rate rising indicating economic recovery

June 19, 2020

The first signs of an economic recovery have surfaced with the Tax Office payroll data showing approximately 124,000 jobs added in the May.

“There is some evidence to suggest that we have started on the economic road to recovery from the Coronavirus” said Treasurer Josh Frydenberg.

The Treasury has predicted that up to 850,000 people could be re-employed by next month whilst economists have forecasted May jobless rate will decline slightly.

This is a brief summary of ‘Job market crawls off floor as recovery begins’ by Matthew Cranston | AFR – The Australian Financial Review | Tuesday 16th 2020.