What happened
Australia lost 39,300 jobs in September, defying forecasts of a 20,000 gain, as a 73,700 drop in part-time work offset a 34,400 rise in full-time jobs. The unemployment rate rose to 4.7%, driving the Australian dollar to a three-month low of 68.94 US cents.
Why it matters here
The sharp labour market drop tempers expectations of an RBA rate increase at its November meeting following four hikes in 2026. Higher borrowing costs are slowing recruitment, sharpening the RBA trade-off between price stability and employment.
What to watch
The Reserve Bank of Australia board meeting scheduled for November 2-3 for official monetary policy decisions.
Source
news.com.au