Unemployment rate defies predictions to hit 4.7 per cent

Key points

• Unemployment has reached 4.7 per cent, its highest rate in nearly five years, according to the Australian Bureau of Statistics. Employment fell by 39,300 jobs in September, against economists' expectation of a 20,000 rise.
• Treasurer Jim Chalmers said the labour market remains resilient, while Shadow Treasurer Tim Wilson blamed the government's economic approach.
• Youth unemployment is now 11.1 per cent, according to Deputy Opposition Leader Jane Hume.