Jobless rate to spike to 11pc; Virgin stands down 8,000 staff

Westpac predicts the unemployment rate will spike to 11 percent by mid-2020 and that Australia will fall into a deep recession that will be worse than the global financial crisis a decade ago. 

At the same time, Virgin Australia to stand down 80 percent of its 10,000 staff as the coronavirus freezes global aviation. 

The airline will cut its flight capacity by 90 percent and ground 125 aircraft. 

Here's my report from The World Today