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. 

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