Victoria’s Department of Treasury & Finance (DTF) has released economic modelling data on the potential impact of the coronavirus pandemic on the state, which assumes that lockdown restrictions remain in place for six months.
The modelling suggests that Victoria’s unemployment rate could peak at 11% and some 270,000 jobs across the state could be lost.
Meanwhile, property prices could fall by up to 9% by the end of 2020, while gross state product could be 14% lower than previously forecast.
