Michael Gordon: Westpac Senior Economist ahead of today's employment data release
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
A warning of more tough times and job losses ahead.
Latest data due out this morning is expected to show the unemployment rate has reached 4.7%, up from 4.3% in the previous quarter.
A higher unemployment rate will give the Reserve Bank more confidence to cut the Official Cash Rate.
But Westpac senior economist Michael Gordon told Mike Hosking what is certain is more people will be finding themselves out of work sooner or later.
He says whatever today's number is, unemployment is likely to peak at 5.5% in the current cycle.
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