[REVISION HISTORY]
Australian labor market slowdown
Updated 1 time since CLSTR started tracking revisions of this situation.
What changed
2026-10-16 07:28 UTC → 2026-10-18 20:05 UTC ·
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Australia’s labor market has shown signs of weakening, with the unemployment rate reaching a five-year high of 4.7% in September. This follows a steady increase from 4.1% in January. In September, employment fell by 39,300, a decline that surprised economists who had anticipated an increase of 20,000 jobs. This downturn was largely driven by a loss of 73,600 part-time positions, even as full-time employment increased by 34,300. The underemployment rate also rose to 6.3%. 6.3%, and the employment-to-population ratio fell to 63.6 per cent, while the participation rate decreased to 66.8 per cent. Treasurer Jim Chalmers stated that although labor market conditions have eased, the jobs market remains “resilient despite the modest softening” observed in the September data. This cooling jobs market has created creates complexity for the Reserve Bank of Australia as it weighs inflation risks against easing labor conditions in upcoming interest conditions. While rising unemployment has decreased some market expectations for a rate decisions. hike in November, some analysts still anticipate a 25bp hike as the central bank balances these competing factors.
Versions
- 2026-10-18 20:05 UTC Australian labor market slowdown
- 2026-10-16 07:28 UTC Australian labor market slowdown
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