Australian News / 21 October 2022
Jobs stay on par
Australia’s jobless rate held steady at 3.5% in September despite 9,000 more Aussies becoming unemployed last month. The Bureau of Statistics’ latest data also showed 900 positions were created in September – The Squiz was responsible for a couple of those, so yay us… Expectations were that 25,000 jobs would be added in the month. The Bureau (the stats one…) said slowing jobs growth indicated the trickle of people joining the workforce was slowing. Some economists have tipped a rise in unemployment in coming months, which they say is unlikely to see the Reserve Bank hold back on further interest rate hikes due to our ongoing inflation woes. That’s something that will be weighing on Treasurer Jim Chalmer’s mind as he prepares to hand down the new government’s Budget next Tuesday night.
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