Money
Australia’s job market hits 16-month high in growth
Australia’s employment growth soared in September, adding over 64,000 new jobs and beating forecasts.
The participation rate reached a record high of 67.2%, keeping the unemployment rate steady at 4.1%.
The strong labour market is expected to keep interest rates unchanged, with the Reserve Bank of Australia holding off on cuts.
While other central banks have already slashed rates, the RBA is waiting until next year before making a move.
Analysts predict the cash rate will remain unchanged until at least April 2025, with inflation concerns still in focus.