Australia Employment Falls by 39,300 as Joblessness Holds at 4.7%

Australia’s labor market softened in September, with employment falling by 39,300 people while the unemployment rate stayed at 4.7%, its highest level since October 2021.

The jobless rate matched August’s upwardly revised reading and came in above the 4.6% forecast. Employment declined even as the headline unemployment rate held steady.

In the United States, employers added 29,000 jobs in September as unemployment reached 4.2%. Australia’s 4.7% rate was 0.5 percentage point higher than the U.S. figure.