{"id":66565,"date":"2026-10-16T07:04:55","date_gmt":"2026-10-16T07:04:55","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=66565"},"modified":"2026-10-16T07:28:30","modified_gmt":"2026-10-16T07:28:30","slug":"australian-unemployment-rises-to-4-7","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/10\/16\/australian-unemployment-rises-to-4-7\/","title":{"rendered":"Australian Unemployment Rate at 4.7%"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>The Australian unemployment rate jumped to 4.7%, while the economy shed 39,000 jobs in September.<\/li>\n<li>However, hours worked rose by 1 million in September, and job ads are recovering.<\/li>\n<\/ul>\n<hr \/>\n<p>Australian employment declined by 39,300 jobs in September, according to the latest ABS report. However, the fall did not affect the underlying trend, which increased by 0.1% for the month.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-jobs.png?resize=525%2C300&#038;ssl=1\" alt=\"Australia: Employment\" width=\"525\" height=\"300\" \/><\/p>\n<p>The unemployment rate rose to 4.7%, up from 4.6% in August.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-u3.png?resize=525%2C300&#038;ssl=1\" alt=\"Australia: Unemployment\" width=\"525\" height=\"300\" \/><\/p>\n<p>The unemployment increase is partly attributable to a 0.2% decline in the participation rate, to 66.8% from 67.0% in August.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-participation.png?resize=525%2C300&#038;ssl=1\" alt=\"Australia: Participation Rate\" width=\"525\" height=\"300\" \/><\/p>\n<p>However, the latest RBA minutes noted reservations about labor force updates due to recent changes in methodology:<\/p>\n<blockquote><p>Members noted that considerable caution is warranted when interpreting the current official labour force data, because of methodological changes to the survey. They discussed how to interpret more forward-looking indicators of labour demand; most indicators pointed to stability in labour market conditions but others (such as some measures of job advertisements) appeared to be strengthening a little. Taken together, the staff\u2019s judgement was that these leading indicators pointed to broadly stable labour market conditions in the near term.<\/p><\/blockquote>\n<p>Actual hours worked are less open to interpretation, rising 1 million hours in September and posting an annual growth rate of 1.3%. However, the trend has flattened, reflecting zero growth since January.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-hours.png?resize=525%2C300&#038;ssl=1\" alt=\"Australia: Aggregate Hours Worked\" width=\"525\" height=\"300\" \/><\/p>\n<p>On the other hand, ANZ-Indeed Job Ads have grown by 2.0% or more in each of the last three months, reflecting an improvement in some quarters.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-jobads.png?resize=525%2C359&#038;ssl=1\" alt=\"Australia: ANZ-Indeed Job Ads\" width=\"525\" height=\"359\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>We find aggregate monthly hours worked to be the most reliable indicator of the Australian labor market. While September saw an increase of 1 million hours, growth has been flat this year. Minutes of the last RBA board meeting concluded that labor market conditions were broadly stable, and the September jobs report is unlikely to change that view.<\/p>\n<p>Inflation remains above target, and we expect the RBA to keep hiking rates until demand growth slows.<\/p>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>ABS: <a href=\"https:\/\/www.abs.gov.au\/statistics\/labour\/employment-and-unemployment\/labour-force-australia\/latest-release\">Labor Report<\/a><\/li>\n<li>Trading Economics: <a href=\"https:\/\/tradingeconomics.com\/australia\/job-advertisements\">Australian Job Ads<\/a><\/li>\n<li>RBA: <a href=\"https:\/\/www.rba.gov.au\/monetary-policy\/rba-board-minutes\/2026\/2026-09-29.html\">Minutes of the Monetary Policy Board Meeting, 28 and 29 September 2026<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Points The Australian unemployment rate jumped to 4.7%, while the economy shed 39,000 jobs in September. However, hours worked rose by 1 million in September, and job ads are recovering. Australian employment declined by 39,300 jobs in September, according to the latest ABS report. However, the fall did not affect the underlying trend, which &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/10\/16\/australian-unemployment-rises-to-4-7\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australian Unemployment Rate at 4.7%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,31,46],"tags":[6301,6654,7501,7502,6392,7503],"class_list":["post-66565","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-labor-employment","tag-aggregate-monthly-hours-worked","tag-anz-indeed-job-ads","tag-australian-employment","tag-australian-participation-rate","tag-australian-unemployment-rate","tag-rba-minutes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian Unemployment Rate at 4.7% - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian Unemployment Rate at 4.7% - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points The Australian unemployment rate jumped to 4.7%, while the economy shed 39,000 jobs in September. However, hours worked rose by 1 million in September, and job ads are recovering. Australian employment declined by 39,300 jobs in September, according to the latest ABS report. However, the fall did not affect the underlying trend, which &hellip; Continue reading &quot;Australian Unemployment Rate at 4.7%&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/10\/16\/australian-unemployment-rises-to-4-7\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-16T07:04:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-10-16T07:28:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-10-15-aus-jobs.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/10\\\/16\\\/australian-unemployment-rises-to-4-7\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/10\\\/16\\\/australian-unemployment-rises-to-4-7\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Australian Unemployment Rate at 4.7%\",\"datePublished\":\"2026-10-16T07:04:55+00:00\",\"dateModified\":\"2026-10-16T07:28:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/10\\\/16\\\/australian-unemployment-rises-to-4-7\\\/\"},\"wordCount\":331,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/10\\\/16\\\/australian-unemployment-rises-to-4-7\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-10-15-aus-jobs.png\",\"keywords\":[\"Aggregate Monthly Hours Worked\",\"ANZ-Indeed Job Ads\",\"Australian Employment\",\"Australian Participation Rate\",\"Australian Unemployment Rate\",\"RBA Minutes\"],\"articleSection\":[\"Australia &amp; 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-hjD","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":43107,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/07\/20\/australia-low-unemployment-warns-of-higher-interest-rates\/","url_meta":{"origin":66565,"position":0},"title":"Australia: Low unemployment warns of higher interest rates","author":"Colin Twiggs","date":"July 20, 2023","format":false,"excerpt":"The Australian labor market remains tight, with unemployment failing to budge from 3.5% in June. Monthly hours worked totaled 1,947 million in June. The 0.3% increase over May -- or 3.6% annualized -- is lower than the 4.7% increase over the past 12 months, suggesting that real GDP growth may\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Unemployment, June 2023","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-19-aus-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-19-aus-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-19-aus-u3.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-19-aus-u3.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":55718,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/07\/18\/australian-job-growth-surprise\/","url_meta":{"origin":66565,"position":1},"title":"Australian job growth surprise","author":"Colin Twiggs","date":"July 18, 2024","format":false,"excerpt":"Australian jobs grew by a surprising 50.2K, compared to consensus estimates of 20K, with total employment reaching 14.4 million. But employment per capita remains steady at 64% because of the huge swell in immigration. The unemployment rate ticked up to 4.1%, while trend remained steady at 4.0%, as the participation\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Jobs","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-07-17-aus-jobs.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-07-17-aus-jobs.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-07-17-aus-jobs.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":50518,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/28\/australian-jobs-gdp\/","url_meta":{"origin":66565,"position":2},"title":"Australian jobs &#038; GDP","author":"Colin Twiggs","date":"March 28, 2024","format":false,"excerpt":"Great research note by Gareth Aird at Commbank, where he predicts that the unemployment rate in Australia will rise to 4.5% by the end of 2024. The latest ABS report showed unemployment dropped to 3.7% in February, while the trend remained at 3.8%. Aird says the sharp rise in employment\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Unemployment Rate","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":21550,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/09\/18\/australian-jobs-recovery-stalls\/","url_meta":{"origin":66565,"position":3},"title":"Australian jobs recovery stalls","author":"Colin Twiggs","date":"September 18, 2020","format":false,"excerpt":"Total hours worked has recovered almost half of the initial 10.5% fall in April-May 2020 but the recovery flattened out in August at -5.4% (since March '20). ANZ Job Ads show a similar flattening out in August: The unemployment rate fell to 6.8% in August but this is not expected\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63005,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/04\/rba-trapped-by-rising-unemployment-and-inflation\/","url_meta":{"origin":66565,"position":4},"title":"RBA trapped by rising unemployment and inflation","author":"Colin Twiggs","date":"November 4, 2025","format":false,"excerpt":"Key Points The RBA maintained the cash rate at 3.6%. The strong housing market creates a wealth effect that encourages spending. However, unemployment is rising, and the RBA can't do much because of the upturn in inflation. The RBA held rates steady at 3.6%, citing the recent upturn in inflation.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australia: Job Ads","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-03-aus-jobads.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-03-aus-jobads.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-03-aus-jobads.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61673,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/05\/15\/australian-jobs-market-versus-rate-cuts\/","url_meta":{"origin":66565,"position":5},"title":"Australian Jobs versus Rate Cuts","author":"Colin Twiggs","date":"May 15, 2025","format":false,"excerpt":"The RBA is expected to cut interest rates by 50 basis points next week, with a further 25 basis points in June, according to the NAB economics team. CPI declined to a low annual rate of 2.4% in the first quarter, well within the RBA's target range. However, the rate\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian CPI - Quarterly & Annual","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-15-aus-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-15-aus-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-15-aus-cpi.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/66565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=66565"}],"version-history":[{"count":5,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/66565\/revisions"}],"predecessor-version":[{"id":66575,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/66565\/revisions\/66575"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=66565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=66565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=66565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}