Josh Frydenberg: Australia’s real unemployment rate is 13.3%

Yesterday, Treasurer Josh Frydenberg acknowledged that Australia’s real unemployment rate is 13.3%, almost double the official figure of 7.1%:

JOURNALIST:

Treasurer, Andrew Probyn here from the ABC. Could you take us through the actual unemployment rate? You alluded to this morning, rather than it being 7.1 or thereabouts, the actual number is much, much higher and can you take us through how you arrive at that figure and what we will see by the end of this week, and perhaps how it will reflect on what you do next week?

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