Australia jobless rate at 5-year high, economy is reopening

A nurse checks a patient who came in for testing at a coronavirus disease (COVID-19) clinic at Westmead Hospital in Sydney, Australia, May 12, 2020. /Reuters

Australian jobs plunged by the most on record in April as employers laid off hundreds of thousands of staff in response to the economy-wide shutdowns to curb the spread of the COVID-19.

Australian Bureau of Statistics (ABS) data on Thursday showed employment in April decreased 594,300 the unemployment rate shot up to 6.2%, the largest fall on record. Treasurer Josh Frydenberg said the job losses were "heartbreaking," adding that the forecast is still for unemployment to reach 10%.

Meanwhile, Prime Minister Scott Morrison said the country is reopening the economy.

Australia has recorded about 7,000 confirmed COVID-19 cases, including 98 deaths. The federal government has a three-step plan to remove all social distancing restrictions by July, but the implementation is largely down to individual state and territory leaders. Frydenberg said lifting restrictions gradually will help get people back in work.