The Australian Bureau of Statistics (ABS) announced that the unemployment rate in australia remained at 4.1% in September, with the final value for August revised down to 4.1%. Employment increased by 64,100 people in September, mainly driven by full-time positions, far exceeding the predicted 25,000, with the employment population ratio reaching a record high of 64.4%.

After the data was released, the australian dollar against the US dollar rose by 0.5% to 0.6698. Traders originally expected the Reserve Bank of Australia to cut interest rates by a quarter point in February next year, but the likelihood of a rate cut has now been reduced to 70%.

The statistics bureau stated that the employment population ratio and labor force participation rate indicate that there are still a large number of people entering the labor market and finding jobs, as job vacancies remain higher than pre-pandemic levels.