There were 29,500 jobs lost in September while unemployment increased by 11,000 according to the Australian Bureau of Statistics.

This beat economist's expectations of a rise to 7% in the unemployment rate and 40,000 lost jobs.

Head of Labour Statistics at the ABS Bjorn Jarvis said stage 4 restrictions in Victoria are still impacting the figures.

"Employment decreased by around 0.2%, following the strong increase in August. Employment in September was around 3.3% below March. 

“The data also showed that hours worked rose by 0.5%, following a small decrease in August (0.1%). However, hours worked were 5.1% below March.

"The September data provides further insights into the labour market impacts from the Stage 4 restrictions in Victoria. Employment in Victoria decreased by 36,000, following a fall of 37,000 in August. Hours worked in the state fell by a further 2.1%, following the 4.6% fall in August,” Mr Jarvis said. 

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BankSavings AccountBase Interest Rate Max Interest Rate Total Interest Earned Introductory Term Minimum Amount Maximum Amount Minimum Monthly Deposit Minimum Opening Deposit ATM Access Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
0.05% p.a.
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Important Information and Comparison Rate Warning

The figures are just below the 6.8% unemployment rate in August.

The unemployment rate peaked at 7.5% in July and so far looks to be on the downwards slide.

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Source: ABS

The participation rate remained steady at 64.8% while the underemployment rate increased to 11.4% 

Nationally, full-time employment increased for females but fell for males. Female full-time employment was 3.4% below March, while male full-time employment was 4.0% below.

Full-time jobs fell 20,100, while part-time jobs fell by 9,400.