Australia's employment growth slowed in October after a strong run, but the jobless rate stayed low and underlying trends remained relatively healthy, suggesting there is little rush to cut interest rates.

The economy churned out 15,900 new jobs in October, about 10,000 fewer than economists had expected.

Australian employment missed forecasts in October after a run of outsized gains, though the jobless rate held steady and underlying trends in the labour market remained resilient. There was muted market reaction to the report.