Michael Gordon: Westpac Senior Economist on the unemployment rate

Figures, due out this morning, are expected to show unemployment's hit a nine-year high.  Stats NZ is releasing its latest unemployment update at 10.45am.  Economists expect the rate to have reached 5.3% in the June quarter, up from 5.1% for the March quarter.  Westpac Senior Economist Michael Gordon told Ryan Bridge they expect the peak unemployment rate to be around 5.3% or slightly higher.  He says that the labour market tends to be one of the more lagging parts of the economic cycle.  LISTEN ABOVE See omnystudio.com/listener for privacy information.