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VIEW: In the wake of today's labour.......>

AUSTRALIA: VIEW: In the wake of today's labour market report NAB notes that "the
March survey period references 1 to 14 March, prior to the introduction of
lockdown measures in late March. As such, these figures are likely to
deteriorate sharply in April where we expect a large rise in unemployment, which
we forecast to reach 11.75% by mid year. Widespread reports of workers being
stood down and hours being cut as businesses grapple with a sharp pullback in
demand for their goods and services should result in a collapse in hours worked
and a sharp rise in underemployment. We also expect labour force participation
to fall in coming months as workers are prevented or discouraged from looking
for work amid the coronavirus pandemic."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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