A warning of more tough times and job losses ahead

Latest data due out this morning is expected to show the unemployment rate has reached 4.7 percent -- up from 4.3 percent in the previous quarter.

A higher unemployment rate will give the Reserve Bank more confidence to cut the Official Cash Rate.

But Westpac senior economist Michael Gordon says what is certain, is more people will be finding themselves out of work, sooner or later.

He says whatever today's number is, unemployment is likely to peak at 5.5 percent in the current cycle.