Australia Q2 employment fall may now be 15% vs earlier 20% estimate

[SYDNEY] Australian employment in the June quarter may have fallen by only 15 per cent from a year earlier, less than a previous 20 per cent estimate, as there are signs of job increases in the industries most affected by the novel coronavirus, the central bank chief said on Thursday.

Reserve Bank of Australia (RBA) Governor Philip Lowe reiterated that the economic outlook was still incredibly uncertain.

Mr Lowe was speaking before a parliamentary committee which is looking at the Australian government's response to the coronavirus pandemic.

REUTERS