5 result(s) for “unemployment”
Reserve Bank of Australia deputy governor Andrew Hauser told a Sydney investment conference that the inflation outlook is "materially worse" than in August, reshaping market pricing for a November cash rate decision and raising the prospect of further pain for borrowers and firms.
National Australia Bank’s plan to cut up to 2,500 roles and Westpac’s separate reduction of about 140 positions underline a wider wave of workforce change across Australia’s banking sector, raising questions about technology, regulation and the short term impact on the labour market.
National Australia Bank has told the market it will reduce its internal workforce by as many as 2,500 roles over the next year as it moves to simplify its operating model and redirect resources to growth and technology initiatives. The announcement rattled the ASX and heightened scrutiny of job security across Australia’s major banks.
Official labour data released October 18, 2026 shows unemployment climbed to 4.7 percent in September as employment fell, complicating the Reserve Bank of Australia’s policy outlook and increasing pressure on federal economic policy makers.
A Federal Court order issued on October 11, 2026, requires Westpac to pay A$26 million after finding the bank failed to respond to hundreds of online hardship notices over several years, intensifying regulatory scrutiny of bank treatment of vulnerable customers.