Economic and Fiscal Update July 2020
In yearaverage terms, real GDP is forecast to fall by 3¾ per cent in 2020 before rising by 2½ per cent in 2021 (Chart 2.1). The jobs market will take time to recover. Following significant job losses, the unemployment rate is forecast to peak at around 9¼ per cent in the December quarter 2020 (Chart 2.2). ................
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