By Robert Carry
Australia’s unemployment rate may have already peaked, securities firm CommSec has claimed.
More than 40,000 jobs were created during September and the unemployment rate fell from 5.8% to 5.7%. CommSec has predicted that unemployment figures set to be released next week will show a continued improvement.
“We believe that the jobless rate is close to peaking, if it hasn’t already… Further gains in employment look to be in the pipeline in coming months,” said CommSec’s chief economist Craig James.
James said CommSec expects that the figures will show employment lifting by 10,000 in October. “If the participation rate didn’t change then the jobless rate may have edged up from 5.7% to 5.9%,” he said. “But overall a peak in the jobless rate somewhere around 6 per cent appears likely.”
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out