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Mark Smith: ASB Senior Economist previews the latest unemployment figures
Published 1 week, 2 days ago
Description
The job market is expected to remain tight for quite some time.
Many economists are picking today's unemployment rate will increase from 5.3% to 5.5% for the June quarter.
ASB Senior Economist Mark Smith told Ryan Bridge the war in Iran and the surrounding uncertainty has probably spooked many employers.
He says they may even hold off making any hiring decisions until next year.
Smith says manufacturing and construction are likely to see bigger job losses, and workers under 25 are suffering the most, with their unemployment rate sitting around 15%.
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