Australia’s unemployment figures are a reason for joy – even if it means waiting for the next interest rate cut

In September, unemployment was a mere 4.1% while underemployment fell from 6.5% to 6.3%. Photograph: Paul Braven/AAP

The latest unemployment rate should be met with cheers rather than gloom about it putting off a rate cut. We don’t need higher unemployment to get a rate cut and both the government and the Reserve Bank should seize this opportunity to lock in historically low unemployment as the norm.

I am by nature somewhat of a glass half-empty type. I mostly blame it on following sports teams which have a greater talent for disappointment than success.