Is it getting hard to secure a job? | The Business | ABC NEWS

Unemployment remained steady at 4.2 per cent after more than 22,000 Australians left the labour force. Economists say job creation has stalled, but Australia's population rose by 423,400 over the year to March — a 1.6 per cent annual increase. There is also a possibility that, as inflation and interest rates have eased, reduced cost-of-living pressures mean some people who did not want to work but had to in order to pay the bills, have dropped back out of the labour force. The stagnation in job creation is a worrying trend given that Australia's population grew by 1.6 per cent over the year to March, according to separate data from the ABS. "Employment growth is running out of steam, with headcount little changed from four months ago," said Sean Langcake from Oxford Economics. The Reserve Bank will announce its next interest rate decision on September 30, but most economists expect no change. Markets are pricing in just a 10 per cent chance of a rate cut this month, but around an 86 per cent likelihood of rates falling by 0.25 of a percentage point by November. AMP deputy chief economist Diana Mousina expects the central bank to also move next in November.
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