Australia's unemployment rate holds at 4.7% in September as rate hike remains possible

Australia's unemployment rate remained at 4.7% in September. Employment fell by 39,300 and the number of officially unemployed people rose by 8,900. The participation rate eased to 66.8% from 67%, leaving the September-quarter average at 4.63%, above the Reserve Bank's 4.5% forecast for the fourth quarter. Trend measures were steadier, with unemployment at 4.6%, participation at 66.9% and hours worked unchanged.