The analysis estimates more than half of the 1.3 million people who were stood down at the start of the coronavirus pandemic are back in work.
Mr Frydenberg says the analysis gives hope, although he's told Sky News it is tempered by the economic impact of the current COVID-19 restrictions in Victoria.
Professor of finance at the University of NSW-Canberra Max Tani discusses with SBS Italian on how the Australian economy is performing.
Metropolitan Melbourne residents are subject to Stage 4 restrictions and must comply with a curfew between the hours of 8pm and 5am. During the curfew, people in Melbourne can only leave their house for work, and essential health, care or safety reasons.
Between 5am and 8pm, people in Melbourne can leave the home for exercise, to shop for necessary goods and services, for work, for health care, or to care for a sick or elderly relative.
All Victorians must wear a face covering when they leave home, no matter where they live.
People in Australia must stay at least 1.5 metres away from others. Check your state’s restrictions on gathering limits.
If you are experiencing cold or flu symptoms, stay home and arrange a test by calling your doctor or contact the Coronavirus Health Information Hotline on 1800 020 080.
News and information is available in 63 languages at
