Australia May unemployment rate likely fell to 6.1%

The Austr'salian Bureau of Statistics will release May labour-market data on 11 June. Strong job creation of 19,000 jobs, following the slight drop of 2,900 jobs are expected in April. The unemployment rate likely dropped to 6.1% from 6.2% in April while the participation rate was probably unchanged at 64.8%. 

"Consumer confidence may have risen above the neutral 100 mark in May while business confidence remained subdued - the central bank has noted that borrowers' response to low interest rates is uncertain. The labour market is likely to stay soft for the next few months as businesses remain reluctant to invest despite low interest rates. The central bank has cited falling business capex, and weak domestic demand, as a concern. The unemployment rate may remain high in the medium term", says Standard Chartered in a report on Friday.