Finding work could be increasingly difficult | The Business | ABC NEWS

By ABC News (Australia)

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Unemployment has risen to the highest level since November 2021. But it was more people looking for work than losing their jobs that pushed up the numbers. The jobless rate rose to 4.6 per cent, up from 4.5 per cent in July. 39,500 more people found work. Employment minister Amanda Rishworth said "Australia's job market is incredibly resilient and indeed is incedibly strong compared to countries around the world." EY regional chief economist, Cherelle Murphy said "the RBA unfortunately is going to have to see some deterioration in the jobs market before it can be convinced that the inflation number is coming down." On Tuesday, RBA governor Michele Bullock said she thought an unemployment rate of somewhere between 4.5 and 5 per cent would "take enough heat out of the labour market" to ease pressure on inflation. Unions say that can only mean mass job cuts. ACTU secretary Melissa Donnelly said "based on today's figures, Michele Bullock's prediction would mean more than 55,000 mo

Tags: business news, finance news, economic news, economy, finance, the business, abc news, abc news australia, rates, interest rates, RBA, Reserve Bank, unemployment, jobless rate, unemployment rate, Michele Bullock, Cherelle Murphy, Amanda Rishworth, Alan Oster, David Taylor