Fiona Gulin was 18 when the last recession hit Australia in the early 1990s. The unemployment rate for females looking for full-time work surged to 8.3% in May from 5.4% in February before coronavirus-driven shutdowns kicked in. VULNERABLE SERVICESDuring the unprecedented run of growth, Australia transformed into an open, services-driven economy, feeding China's rise with its mineral and commodity wealth and shedding much of its manufacturing capability. VIRUS SHADOWPolicymakers, too, are worried about the long road back to economic health. An L-shaped recovery also means the unemployment rate will stay higher for longer.

Source: Otago Daily Times June 28, 2020 21:00 UTC