Australia Loses 39,300 Jobs in September as RBA November Hold Odds Jump to 90%
Updated
Updated · Reuters · Oct 15
Australia Loses 39,300 Jobs in September as RBA November Hold Odds Jump to 90%
3 articles · Updated · Reuters · Oct 15
Summary
Net employment fell 39,300 in September, the biggest monthly drop since February 2025, versus forecasts for a 20,000 gain.
Part-time jobs plunged 73,700 while full-time roles rose 34,400, reinforcing signs of an early labor-market slowdown rather than a broad collapse in hiring.
The jobless rate held at 4.7% after August was revised up from 4.6%, a level the RBA had not expected until the end of 2027.
Markets lifted the implied chance of a November rate hold to nearly 90% from 66%; the Australian dollar fell 0.3% and three-year bond futures hit a five-week high.
The data eases pressure for a near-term hike even as inflation remains above target, with headline CPI at 4.0% in August and core inflation stuck at 3.6%.