Australia's labor market forecasts unemployment rise to 4.3% in September due to high interest rates.
Australia's labor market is forecasted to soften further as high interest rates dampen worker demand, with economists predicting an unemployment rise to 4.3% in September from 4.2% in August. Job growth is expected to slow significantly from August's 47,500 increase. The Reserve Bank of Australia has raised rates to manage inflation, which has recently fallen to 3.4%. Meanwhile, U.S. financial stocks are surging, with major indices hitting record highs.
October 13, 2024
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