FED: Jobless rate tipped to stay at 7.2 per cent

AAP General News (Australia)
08-12-1999
FED: Jobless rate tipped to stay at 7.2 per cent

CANBERRA, Aug 12 AAP - Australia's unemployment rate is tipped to stay at 7.2 per cent when
the jobless figures for July are released today.

In June, the unemployment rate fell to 7.2 per cent on the back of more than 62,000 new
jobs, ending months of sluggish growth and anxiety over when economic growth would start to
kick into the employment market.

Economists predict the unemployment rate will remain at 7.2 per cent, seasonally adjusted,
with forecasts ranging from 7.0 per cent to 7.3 per cent.

But Australia is expected to enjoy continued employment growth for the rest of the year.

An official indicator released yesterday by the Employment Department showed another rise
in June, continuing a revised upward trend of the previous six months.

The indicator is now at a value of 0.26, compared to 0.25 in May and 0.22 in April.

Economists expect a seasonally adjusted rise in total employment of 2,500 for July.

AAP sc/cjh

KEYWORD: JOBS DAYLEAD

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