Unemployment expected to rise

Written By Unknown on Rabu, 07 November 2012 | 23.48

OFFICIAL data to be released on Thursday is expected to show a rise in unemployment as the mining boom wanes and the manufacturing and retail sectors struggle.

An AAP survey of 16 economists shows that the median unemployment rate is expected to rise to 5.5 per cent for October, while total employment numbers are expected to grow by 5,000 when Australian Bureau of Statistics figures are released on Thursday.

The ABS reported last month that the unemployment rate for September rose by a larger than expected rate to 5.4 per cent, from 5.1 per cent in August, despite a rise of 14,500 in total employment.

The AAP survey on Tuesday found that the participation rate - the number of people employed or looking for work - is expected to remain at 65.2 per cent for October.

AMP senior economist Bob Cuneen said the unemployment rate would continue to rise as growth in the mining sector slowed, along with weakness in other parts of the economy.

"There might be some marginal job gains for the month - we've pencilled in 5,000," he said.

"But we have the weight of several recent job loss announcements, plus the signs that the mining boom is starting to peak, and the continuing struggle in the non-mining economy, in terms of the retail spending story and manufacturing.

National Australia Bank senior economist David de Garis said high-profile job losses in the mining sector suggested a slowdown in employment growth could be felt sooner rather than later.

"We know there have been some areas where resource companies have been closing down either unprofitable or high-cost operations," he said.

"It could take a while for weaker sectors such as manufacturing, construction and retail to improve."


Anda sedang membaca artikel tentang

Unemployment expected to rise

Dengan url

http://sementarberita.blogspot.com/2012/11/unemployment-expected-to-rise.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Unemployment expected to rise

namun jangan lupa untuk meletakkan link

Unemployment expected to rise

sebagai sumbernya

0 komentar:

Posting Komentar

techieblogger.com Techie Blogger Techie Blogger