Australia’s Job Market Stagnates with 4.1 Percent Unemployment for Third Consecutive Month

The number of available jobs in Australia has undershot estimates predicted by forecasters, with the nation’s unemployment rate sitting at 4.1 percent for the third consecutive month. Australian Bureau of Statistics (ABS) data shows an increase of 15,900 jobs in October, falling short of the estimated 25,000 new job vacancies. Head of Labour Statistics Bjorn Jarvis said that employment grew by nearly 16,000, while the number of unemployed people increased by around 8,000. “This was the third month in a row that the unemployment rate had been at 4.1 percent,” Jarvis said. “This is around 0.6 percentage points above its recent low of 3.5 percent in June 2023, but is 1.1 percentage points below March 2020, when it was 5.2 percent.”...