Follow the ABC's Peter Ryan. Analysis of global and Australian business, finance and economics.
Thursday, April 16, 2020
Jobless rates ticks slightly higher but economists warn of calm before the storm; ATO prepares for deluge as applications open for $130 billion JobKeeper program
Australia's official jobless rate ticked slightly higher to 5.2 percent in March, below estimates for 5.5 percent.
But economists warn coming months will confirm a surge in unemployment with Treasury estimating a 10 percent jobless rate by mid-year.
Applications for the $130 billion JobKeeper program open next week and will be administered by the Australian Taxation Office.
Deputy commissioner James O'Halloran tells ABC's Peter Ryan the ATO will have strict checks and balances to ensure eligible workers get the money without delay.
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