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Australia's unemployment rate has risen to its highest level since November 2021 lifting the chance of a Melbourne Cup interest rate cut; new data reveals the number of bank branches in the country has fallen by 155; and Virgin Australia commences its first pet-friendly flight trial. 00:00 Australia's unemployment rate has hit a near 4-year high 01:14 Another concerning indicator about the future jobs market is a rise in the youth unemployment rate to 10.5% 02:00 The market took a tumble, with the Australian dollar falling below $0.65 USD 03:00 New CommBank data showing household spending increased by 0.6% in September 03:57 The number of bank branches in Australia continues to decline - down 155 in the year to June 04:30 And an Australian first trial has pet loving travellers howling with happiness Ricardo Gonçalves breaks down the day's financial news in On The Money. #Finance #Economy #Australia #Unemployment #InterestRates #BusinessNews SBS News is Australia's trusted news source for the latest news from Australia and across the world. Subscribe to the SBS News YouTube channel: / @sbsnews Follow SBS News on Instagram: / sbsnews_au Follow SBS News on TikTok: / sbsnews_au Follow SBS News on X: / sbsnews Follow SBS News on Facebook: / sbsnews Apple News: https://trib.al/MTx0gUe For the latest news, visit www.sbs.com.au/news Network Terms & Conditions: https://sbs.com.au/terms Privacy Policy: https://sbs.com.au/privacy Feedback or complaints: https://sbs.com.au/complaints