Unemployment is climbing, slack is growing and the impact of the Reserve Bank’s aggressive tightening of monetary policy is starting to bite. Plenty of economists try to dismiss the noise that accompanies the monthly jobs figures, given they can jump about.before this was revised up in Thursday’s jobs report to 3.9 per cent. That same report showed unemployment back at 4.1 per cent in April.NSW’s jobless rate has moved up from 3.3 per cent in April last year to 3.9 per cent this year.
And, as AMP senior economist Diana Mousina noted, the non-official measures of the job market are also pointing in one direction.
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