Australian Jobless Rate Forecast To Rise Slightly: Market Economists

A construction worker uses a jack hammer at Aussie Stadium October 12, 2006 in Sydney, Australia (Photo: Getty Images)

Australia’s jobless rate will rise slightly to 5.9% when June numbers are released next week by the Australian Bureau of Statistics, according to a Bloomberg News survey of market economists.

The consensus was for an extra 12,000 jobs to be added and for a participation rate unchanged at 64.6%.

Australia’s seasonally adjusted unemployment rate was steady at 5.8% in May 2014. The Bloomberg survey sees this firming by just 0.1%.

Just six of the 26 economists surveyed thought the rate would remain at 5.8%. The rest saw a rise.

The employment change forecast varied from a low of 5,000 jobs to 35,000.

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