March labour force figures to be ‘first hard indicator of the economy’

March labour force figures to be 'first hard indicator of the economy'

Economist Stephen Koukoulas says the March labour force figures will be the “first hard indicators of the economy” since the coronavirus lockdown.

“It’s probably a little too early to see the jump in unemployment. The market is expecting unemployment to go from 5.1 per cent in February to around 5.5 per cent, so not a dreadful number,” Mr Koukoulas said.

“But it’s got to be remembered that the survey was conducted before we saw those queues around Centrelink… I think the general consensus is expecting the unemployment rate to reach 10 per cent.”

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