Jobless at near 4-year high | Bank branches keep closing | Australia’s first pet-friendly flights

Australia’s unemployment rate has risen to its highest level since November 2021 lifting the chance of a Melbourne Cup interest rate cut; new data reveals the number of bank branches in the country has fallen by 155; and Virgin Australia commences its first pet-friendly flight trial.

00:00 Australia’s unemployment rate has hit a near 4-year high
01:14 Another concerning indicator about the future jobs market is a rise in the youth unemployment rate to 10.5%
02:00 The market took a tumble, with the Australian dollar falling below $0.65 USD
03:00 New CommBank data showing household spending increased by 0.6% in September
03:57 The number of bank branches in Australia continues to decline – down 155 in the year to June
04:30 And an Australian first trial has pet loving travellers howling with happiness

Ricardo Gonçalves breaks down the day’s financial news in On The Money.

#Finance #Economy #Australia #Unemployment #InterestRates #BusinessNews

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