Citigroup Expects Australia to Add 20,000 Jobs in June, With Unemployment at 4.3%

Citigroup Australia and New Zealand chief economist Josh Williamson said Australia is expected to add 20,000 jobs in June, following strong employment growth in May and a seasonal slowdown in the labor market. According to Jin10, he said the unemployment rate should edge down to 4.3% if the labor force participation rate remains stable. Williamson added that the risks to Citigroup's employment forecast are tilted to the downside, citing multiple threats to economic growth, including weak productivity, low potential growth, and elevated inflation.