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Financial News: Australia Unemployment Data Due On Thursday

Australia Unemployment Data Due On Thursday

05/13/2020 - 18:00:00 (RTTNews)

(RTTNews) - Australia is on Thursday scheduled to release April figures for unemployment, highlighting a light day for Asia-Pacific economic activity.

Fueled by the Covid-19 pandemic, the jobless rate is predicted to spike to 8.3 percent - up from 5.2 percent in March. The Australian economy is expected to have lost 575,000 jobs after adding 5,900 in the previous month. The participation rate is tipped to sink to 65.2 percent from 66.0 percent a month earlier.

Australia also will see the inflation forecast for May from the Melbourne Institute; in April, inflation was seen at 4.6 percent.

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