Australia will face 25-year highs in unemployment as the country falls into recession amid the novel coronavirus pandemic, new data released by country’s treasury suggests.

“The economic shock facing the global economy from the coronavirus is far more significant than what was seen during the global financial crisis over a decade ago,” Australia’s Treasurer Josh Frydenberg said in a statement to state-run ABC news.

The unemployment rate is set to rise by June this year to its highest level since 1994 — over 10% — as nearly with 1.4 million Australians may lose their jobs.

Currently, Australia’s unemployment rate

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