Ten million Australians have a full-time job for the first time in the nation's history.
An unexpectedly low unemployment rate has seen 10 million Australians have a full-time job for the first time in history, likely scuppering any chance of a pre-Christmas interest rate cut.
The ABS had originally put the August rate at 4.2 per cent, only to revise it down 0.1 per cent today.Australia's unemployment rate has remained steady at 4.1 per cent. According to the data, about 10.03 million Australians have full-time work – the first time the 10 million milestone has ever been passed.
"While the number of unemployed people fell slightly to 616,000 in September, overall the number of unemployed people has risen by around 90,000 people since September 2023."Despite this rise over the last year, there are still around 93,000 fewer unemployed people than there were just before the start of the COVID-19 pandemic, when the unemployment rate was at 5.2 per cent."
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