Analysis by JP Morgan shows that nearly 140,000 jobs were lost in Australia’s manufacturing, construction and retail sectors in the first three months of 2019. Tom Kennedy of JP Morgan notes that so-called bellwether sectors are the most closely linked to the economic cycle. He says rising job losses in these sectors will put upward pressure on the unemployment rate. From The Australian:
Mr Kennedy said with these sectors under pressure, the unemployment rate was likely to rise to 5.5 per cent by the end of the year…
