Were it not for JobKeeper, unemployment would be 11.7%, up from 5.2% in one month. Here's how the numbers pan out
- Written by Jeff Borland, Professor of Economics, University of Melbourne
After all the forecasts and speculation, now we know the worst.
Today’s numbers from the Australian Bureau of Statistics[1] lay out the catastrophic impact of COVID-19 on the Australian labour market.
Total hours worked fell 9.2% – in just one month, between March and April.
Percentage fall in hours worked

The scale and speed are difficult to comprehend.
By comparison, in the major recessions of the 1980s and 1990s, hours worked fell by 6% – but after 18 months.
Women have been hurt more than men, losing 11.5% of the hours worked in March, compared to men who lost 7.5%.
Queensland and NSW have so far fared better than other states.
Percentage fall in hours worked by state


References
- ^ Australian Bureau of Statistics (www.abs.gov.au)
- ^ Author's calculations from ABS 6202.0 (www.abs.gov.au)
- ^ ABS 6202.0 (www.abs.gov.au)
- ^ What'll happen when the money's snatched back? Our looming coronavirus support cliff (theconversation.com)
- ^ adjusted (www.abs.gov.au)
- ^ ABS 6202.0 and Canndian and US statistical agencies (www.abs.gov.au)
- ^ The attacks are misguided: in a time of crisis the Bureau of Statistics is serving us well (theconversation.com)
Authors: Jeff Borland, Professor of Economics, University of Melbourne