Thursday, May 16, 2019

Jobless rate rises, rate cut bets firm

Australia's official jobless rate has crept higher adding to speculation that the Reserve Bank will be forced to cut interest rates. 

In April, unemployment rose to 5. 2 percent in the face of stronger than expected jobs growth. 

The data comes days out from the election where both major parties have laid claim to being strong economic managers. 

ABC's Peter Ryan says the RBA now has the trigger to cut the cash rate in June.

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