Unemployment rate falls to 6.8pc as jobs surge despite Melbourne lockdown

Australia's unemployment rate has posted a surprise fall as 111,000 jobs were created last month, despite a lockdown in Melbourne and regional Victoria. 

ABC's Peter Ryan says the Bureau of Statistics figures appear to show the bounce-back in jobs is real, rather than a statistical illusion. 

Pandemic to push 100 million people into deep poverty, a billion children out of school on hard track to achieve potential - World Bank report

The World Bank warns economic carnage from the pandemic is threatening hard won gains in health and education over the past decade. 

Poorest nations are hardest hit with a billion children kept away from school now less likely to achieve their full potential. 

World Bank chief economist for human development Roberta Gatti tells ABC's Peter Ryan the pandemic will push 100 million people into deep poverty.

Read the World Bank's Human Capital Index here 

State Street latest finance giant hit with fine for anti-money laundering breaches

The Australian arm of a global investment bank is the latest financial institution to be fined for breaching anti-money laundering laws.

Read the story on ABC News Online

The US-owned State Street bank has been hit with a penalty of $1.24 million for failing to declare international transfers that potentially left it exposed to exploitation by organised crime.

LISTEN to my report where I speak with AUSTRAC deputy chief executive Peter Soros

Migration critical to post-pandemic recovery as CEDA warns on rising populism

Economic thinktank CEDA is urging the federal government to ensure migration is a key element of Australia's post pandemic economic recovery. 

Chief economist Jarrod Ball says the October 6 budget should resist calls for permanent migration restrictions and do more to help international students, particularly in Victoria. 

Mr Ball tells ABC's Peter Ryan that JobKeeper and JobSeeker should be extended to temporary migrants who are currently excluded even though they pay Australian tax.