Australia's jobless rate hits five-year high as nearly 40,000 fall out of work
Australia's unemployment rate unexpectedly rose to 4.7 per cent in September, above the 4.6 per cent economists had forecast and the highest reading since October 2021, the Australian Bureau of Statistics said. Nearly 40,000 Australians fell out of work, and the ABS revised August's rate up to 4.7 per cent. Markets are watching how the figures affect the Reserve Bank of Australia's rate path.
