Two million Aussies face unemployment amid second Great Depression

Senior sources in the banking and the forecasting sectors believe Australia’s unemployment rate could triple to more than 15% with 2 million Aussies losing their jobs:

The Sydney Morning Herald and The Age have spoken to senior sources in the banking and the forecasting sectors who said their analysis showed Australia was headed for an unemployment rate of 15 per cent or more. It currently stands at 5.1 per cent.

A source who could not be named for commercial-in-confidence reasons said unemployment at that level would mean more than 2 million Australians out of work. It would be the highest jobless rate since 1932.

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