Posted March 04, 2020 07:14:30Australia’s unemployment figure is set to fall to 5% in 2020, according to a report released by the Australian Bureau of Statistics (ABS).
The Australian Bureau’s data, which measures the number of people looking for work, has been the benchmark for forecasting unemployment trends for several years.
But its monthly report on employment, released last week, showed the number was expected to fall below 5% by 2019, although the unemployment rate will continue to fall.
This means the number would be around 5.7 million, which is below the 5.9 million predicted by the ABS for 2020.
The latest figures show the Australian economy grew by just over 2% in the 12 months to March.
But that is still well below the national average of 4.7%.