Australia's unemployment rate holds steady at 4.1%, with a smaller-than-expected job increase.

Australia's unemployment rate stayed steady at 4.1% in October, with a smaller-than-expected increase of 15,900 jobs. Despite slower employment growth, most new jobs were full-time, and underemployment has decreased. This stability suggests the labor market remains resilient, though economists foresee a gradual slackening in the future. The Reserve Bank of Australia is likely to keep interest rates unchanged, focusing on inflation.

November 13, 2024
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