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Australia’s seasonally adjusted unemployment rate stood at 4.1% in September 2024, holding steady for the second straight month but falling short of market estimates of 4.2%. The number of unemployed individuals dropped by 9.2 thousand to 615.7 thousand, with those looking for full-time jobs falling by 13.9 thousand to 405.5 thousand while those seeking part-time jobs increased by 4.7 thousand to 210.2 thousand. In the meantime, employment rose by 64.1 thousand to 14.52 million, easily surpassing the consensus of a 25 thousand gain, after a downwardly revised 42.6 thousand gain in August. Full-time employment jumped by 51.6 thousand to 10.03 million, while part-time employment grew by 12.5 thousand to 4.49 million. The participation rate rose to a fresh high of 67.2% in September, above the consensus of 67.1%. The underemployment rate dropped to 6.3% from 6.5% in August. Additionally, monthly hours worked in all jobs advanced by 5 million, or 0.3%, to 1,968 million.