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theguardian.com

Australia's Steady Unemployment Rate

Australia's unemployment rate remains steady at 4.1%, with a strong labor market despite some signs of slowing growth. Experts offer differing views on future trends.

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English

United Kingdom

EconomyLabour MarketAustraliaUnemploymentLaborJobs

Australian Bureau Of StatisticsReserve Bank Of AustraliaBdo EconomicsOxford Economics Australia

Anders MagnussonBjorn JarvisSean Langcake

What was Australia's unemployment rate in October?: Australia's unemployment rate remained steady at 4.1% in October, despite adding 15,900 jobs. This was slightly lower than economists' predictions but still reflects a tight labor market.
What are some expert opinions on the future of the Australian labor market?: Experts have differing views on the future of the Australian labor market. Some believe the RBA's unemployment projection might be too high, while others anticipate a weakening in the labor market in 2025.
What is the Reserve Bank of Australia's dual mandate regarding the economy?: The Reserve Bank of Australia (RBA) aims to maintain inflation within its target range while ensuring full employment. The strong labor market may lead the RBA to revise its unemployment forecast upward.
What are some key indicators showing the health of Australia's labor market?: While employment growth slowed in October, the employment-to-population ratio remained at a historic high. This suggests continued strength in the labor market, despite some emerging signs of weakness.
How did unemployment rates vary across different states and territories in October?: The unemployment rates varied across Australian states and territories in October, with the ACT reporting the lowest rate (3.1%) and the Northern Territory reporting the highest (4.6%).

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