Jobless rate set to rise

Written By Unknown on Rabu, 07 Mei 2014 | 16.57

MORE Australians might be about to join the jobless queue amid sluggish demand for workers.

The federal government's jobs indicator fell for a seventh straight month in May.

That's an indication employment will grow more slowly than its long-term trend of 1.2 per cent over coming months.

The index, released on Wednesday, anticipates movements in the growth cycle of employment, with a turning point confirmed after six consecutive monthly moves in the same direction.

It fell 0.063 index points in May to minus 0.600 points.

Economists expect the unemployment rate will rise marginally to 5.9 per cent when April data is released on Thursday.


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