Deloitte predicts 6 1pct jobless rate 20140205 p5rrji.html – Breaking News & Latest Updates 2026
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This was published 12 years ago

Deloitte predicts 6.1pct jobless rate

AAP

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Unemployment is expected to peak at 6.1 per cent in about 18 months, with forecasts showing much of it driven by blue collar job losses.

Deloitte Access Economics's forecast shows the worst news for employment has been in blue collar sectors, with fewer job losses than expected in white collar sectors, particularly office workers.

"The lingering effects of the high dollar certainly hit manufacturing and those blue collar sectors quite hard," Deloitte's James Allnutt told AAP.

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He expects the national unemployment rate to rise to six per cent in the middle of 2014 and edge up to 6.1 per cent by the middle of 2015.

"So peaking middle of next year, but most of the damage done by the middle of this year," Mr Allnutt said.

People should be able to start finding jobs after then, with the unemployment rate due to drop again by the start of 2016.

However, the story will vary across jurisdictions.

"The ACT doesn't go as high but takes longer to start coming down, places like Tassie are still horrible for a while and South Australia as well moving back above the national average," Mr Allnutt said.

Tasmania's unemployment rate is currently the highest in the country at 7.7 per cent, compared with the national average of 5.8 per cent.

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