Unemployment rate in May looks set to be around 7%, or a shade less

If that happens, the monthly unemployment rate would have stabilised around 7% for six months with a movement within a narrow range of 6.7% to 7.4%

The weekly unemployment rate bounced between 6.9 per cent and 7.7 per cent during May. The simple average of the rate in the past four weeks was 7.3 per cent. And, the 30-day moving average rate was 7 per cent as of May 26, 2019. With just five more days to go before the close of the month, it seems likely that May 2019 would end with an unemployment rate of around 7 per cent, or a shade above 7 per cent.

With this, the monthly unemployment rate would have stabilised around 7 per cent over the past six months