Australia sheds 39,300 jobs as unemployment holds at 4.7 percent

Australian employment fell 39,300 in September against expectations of a 20,000 gain, while the unemployment rate held at 4.7 percent after August was revised up from 4.6 percent, the highest level since October 2021.

Why it matters: A jobs fall driven by part-time work, with participation down, is the cooling the Reserve Bank of Australia has been seeking after its September hike, and Reuters reported investors paring back wagers on another hike ahead of the November 3 decision.

Data as of Australian Bureau of Statistics Labour Force release for September 2026, published Thursday October 15 in Australia, Wednesday evening Toronto time. Figures opened and read in full in the HRD Australia report of the ABS release, with the Reuters account and the Bloomberg feed headline agreeing on the headline numbers; the August revision and the 20,000 gain expectation are from AAP reporting of the same release. Developing item, 2 to 3 sentences by design.

Australia’s labour market cooled more than expected in September, with employment falling 39,300 against a forecast gain of about 20,000, as a 73,700 drop in part-time jobs more than offset a 34,400 rise in full-time work. The unemployment rate held at 4.7 percent, its highest since October 2021, after August was revised up from 4.6 percent, with the number of unemployed up 8,900 to 732,000 and participation down 0.2 points to 66.8 percent. Moody’s Analytics told HRD Australia the figures point to a genuine slowdown in hiring and, unless the quarterly CPI surprises sharply higher, point to a Reserve Bank hold in November, a read Reuters also reported in market pricing as investors trimmed bets on another hike.

Australia sheds 39,300 jobs as unemployment holds at 4.7 percent

Sources