Unemployment tipped to hit 5.8% in June


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Jobs growth is tipped to be have been modest in June, with the unemployment rate creeping up to 5.8 per cent.

The number of Australians with a job is expected to have risen by 13,500 in June, after increasing by 17,900 in May.

The unemployment rate is forecast to rise to 5.8 per cent, from 5.7 per cent in May, according to an AAP survey of 10 economists.

“We expect a ‘business as usual’ report, with annual employment growth remaining around two per cent per year as suggested by various job vacancies series,” TD Securities chief Asia-Pacific macro strategist Annette Beacher told AAP.

“The RBA will be content if the unemployment rate remains around 5.8 per cent, as we expect.”

The participation rate, which refers to the number of people either employed or actively looking for work, is expected to have held steady at 64.8 per cent in June.

Online Source

The Indian Telegraph Sydney Australia

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