Australia's unemployment rate rises to 4.7% in September

Unemployment rate in September

4.7 %

The jobless rate rose to 4.7 per cent, its highest since October 2021, with 39,300 jobs lost, the Australian Bureau of Statistics said on Thursday.

Full-time jobs rose by 34,400 while part-time jobs fell by 73,700, a pattern one economist called typical of an early hiring downturn.

Youth unemployment

11.1 %

Youth unemployment stands at 11.1 per cent, more than double the national rate.

Reserve Bank of Australia

Some economists expect the Reserve Bank of Australia to raise rates again on Nov 3, with inflation at 4 per cent in August, above its 2 to 3 per cent target.