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  Risk of   Unemployment Outlook  According to the chart of  B loomberg following In the first half of the year, the COVID-19 pandemic caused the most severe contraction in global and domestic economic activity in decades.  Assuming that the widespread and simultaneous resurrection of infections on a global scale is avoided, the GDP of Australia’s major trading partners is expected to shrink by about 3% (on an annual average) in 2020, at a trough in the June quarter, followed by a growth of 6% by 2021 about. This will make the GDP levels of major trading partners about 3% lower than expected before the outbreak. The "State of the International Economy" chapter will discuss the global outlook in more detail. Domestically, after the biggest growth shock since the 1930s, GDP in most of the country is gradually recovering. Employment and working hours in most parts of the country are also expected to increase slightly in the second half of the year. However, th...