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AAP
AAP
Andrew Brown and Adrian Black

MYSTERIOUS: Surprise numbers pull reserve bank in two directions - What They Never Told You

Global investment giants still tip the Reserve Bank will hold the cash rate steady at 3.6 per cent. (Bianca De Marchi/AAP PHOTOS)

An economic settling after the effects of the COVID pandemic is behind a surprise jump in the jobless rate, the employment minister says, but the figures could mean good news for borrowers.

The unemployment rate increased to 4.5 per cent in September, a four-year high, defying predictions from economists it would remain stable for the month.

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