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ASX to edge up as jobless rate set to hit 50-year low

·Personal Finance Editor
·2-min read
The ASX board showing price changed and people cross a busy crossing in the Sydney CBD.
The ASX is expected to crawl higher this morning as investors await June unemployment data. (Source: Getty)

ASX: The local market is expected to open barely in the green this morning after the US fell overnight.

This comes after the Aussie share market finished slightly higher yesterday as gains by the big banks outweighed a drop by BHP and the energy sector.

Wall Street: US stocks edged lower for a third straight session on Wednesday as investors mulled over hotter-than-expected inflation data for June.

Jobs: Economists are tipping a further drop in the unemployment rate today.

Unemployment is expected to drop from 3.9 to 3.8 per cent when the June jobs numbers are handed down by the Australian Bureau of Statistics.

Such a rate would be the lowest unemployment figure for almost 50 years, going back to August 1974.

Rent crisis: Renting a property has never been more expensive, as new data shows prices are soaring amid Australia's cost-of-living crisis.

Rents hit record highs across the country's combined capitals, according to Domain's Quarterly Rent Report, with Canberra still the most expensive city for houses and units.

Skilled migrants: Some highly skilled migrants are driving ride-share vehicles to pay the bills as their qualifications go unrecognised in Australia, new research has found.

The findings emerged as multiple industries across the nation continued to battle skills shortages and the unemployment rate remained at record lows.

Gambling habit: Bookmakers are on notice ahead of new rules to help Australians combat gambling addiction.

National gambling self-exclusion register BetStop is a free service set to be launched by the end of the year.

It will allow people to self-register to be barred from all Australian licensed online and phone betting services.

Fukushima disaster: The Tokyo district court has ordered four former executives of Tokyo Electric Power Company to pay $141 million (13 trillion yen) in damages to the operator of the wrecked Fukushima nuclear power plant, national broadcaster NHK reported.

The ruling marks the first time a court has found former executives responsible for the nuclear disaster.

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