Why finding a job is getting more difficult | The Business

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A rising number of people looking for work pushed unemployment up in October. The jobless rate ticked up to 3.7 per cent, despite the creation of 55,000 jobs. The participation rate is back in record territory.

The Reserve Bank will be worried if the jobs market remains this strong in the months ahead as that could prop up inflation. But with 13 interest rate increases so far, there are concerns that one more could tip the economy into a downturn.

AMP deputy chief economist Diana Mousina says the risk of recession in 2024 is 40 - 50 per cent.

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