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Unemployment on the rise as wage growth slows | 1News

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Unemployment is continuing to rise, up a smidgen from 3.6% to 3.9%, and while wages are up too, it’s at a slower rate than earlier in 2023.

But when the economy tightens, employers often cut hours before they cut jobs, and that’s showing in the growing “underutilisation” rate.

That rate is the number of people who work fewer hours than they’d like. That’s grown by 13,000 people in the September quarter and is highest among young adults, as 1News Business Correspondent Katie Bradford reports.


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