Unemployment rate hits five-year high | The Business | ABC NEWS

By ABC News (Australia)

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Australia's unemployment rate remained at 4.7 per cent in September, after August's jobless rate was revised upwards. It's now at a five-year high. There were 39,300 fewer people were employed. The number of unemployed rose by 8,900. The proportion of people in work or seeking work, was around 67 per cent. NAB chief economist Sally Auld expects the unemployment rate to rise: "We see it heading towards 5% and we think it'll probably get there maybe some time towards the end of 2027. But I think in light of today's data, maybe the risk to our forecast is that we actually hit that 5% level possibly a bit sooner than we currently anticipate." Blair Chapman is the chief economist at job ads website Seek. He says while the number of people looking for work slightly eased in September, data from job ads website Seek shows there's been a slight lift in people looking for jobs. "It's potentially just a bit of catch up reflecting that there was not much hiring, especially in the consumer sp

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