Mr. Papadopoulos adds: "That will see the unemployment rate continue to trend higher, rising towards 5.5% in early 2013. Slower economic growth next year will also weigh on the labour market. GDP growth in 2013 is forecast at 2.5%, below this year’s 3.5% pace. The upward trend in unemployment will be a key factor behind the RBA cutting interest rates further next year."
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