Australia's unemployment rate held at 4.7% in September for a second straight month, after August was revised up from 4.6%, the highest since October 2021 and above the RBA's 4.5% forecast for the December quarter. Employment fell by 39,300, against consensus expectations of a 20,000 rise. Global X's Marc Jocum said the data was noisy due to ABS survey methodology changes and a volatile participation rate, while HSBC's Paul Bloxham said the labour market was loosening faster than the RBA expected but inflation surprised to the upside. Bloxham added that upcoming inflation data will be the main factor in whether the RBA hikes again in November. RBA staff reportedly worry that the unemployment rate needed to keep inflation stable has risen due to weak productivity, while Treasurer Jim Chalmers said unemployment remains low by historical standards.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on crookwellgazette.com.au ↗
Related tickers and likely impact
AUD/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/14/2026 | 0.69726 |
| Change that session | -0.16% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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