Unemployment to rise
Interesting analysis from DLS here, showing job ads falling, the size of the labour force rising very rapidly, and therefore unemployment expectations surging.
Job ads are well down from a year earlier, according to SEEK:
Source: SEEK
The number of job applicants per job advertisement has also doubled from the lows.
Roy Morgan estimates that the workforce has increased by +475,000 from a year ago, with more to come.
Source: Roy Morgan
And unemployment expectations are on the up, up, up...
This week the labour force figures for July will be released by the ABS, and the median market forecast is for the unemployment rate to rise modestly from 3.5 to 3.6 per cent...but we could be above 4 per cent and rising sooner than a lot of people seem to think.
