Australia’s Job Market Loses Some Pep in October
Unemployment rate remained at 4.1% for a third month in a row
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SYDNEY—Australia’s job market showed signs of cooling down in October as employment growth for the month came in a little bit below expectations, albeit the jobless rate remained near its historic lows.
The economy churned out 15,900 new jobs in October, about 10,000 fewer than economists had expected, and well short of the spectacular gains seen in recent months, the Australian Bureau of Statistics said Thursday.
Still, the unemployment rate remained at 4.1% for a third month in a row in October, continuing to track below where the Reserve Bank of Australia has forecast it would be.
With employment growth slowing over the month, October might mark the start of a slowdown in hiring, which many economists have been expecting given that interest rates remain elevated and the economy overall has been sluggish.
The conditions for a cut in official interest rates early in 2025 appear to be slowly falling into place with inflation in a steady retreat and the job market now showing tentative signs of slowing down, economists said.
Still, money market traders are less optimistic than economists about the potential for a cut in interest rates, with swap markets not fully pricing in an interest rate cut until August next year.
The October unemployment rate remained 0.6 percentage points above its recent low of 3.5% in June 2023, while being 1.1 percentage points below its level just prior to the pandemic, the ABS said.
The number of unemployed people in October was 67,000 higher than a year ago, but was still 82,000 people lower than in March 2020, the ABS added.
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The Swiss watchmaker’s first collaboration with Atlassian Williams F1 Team produces two sporting Laureato models inspired by the team’s 2026 racing car.
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The Swiss watchmaker’s first collaboration with Atlassian Williams F1 Team produces two sporting Laureato models inspired by the team’s 2026 racing car.
3 minGirard-Perregaux has revealed the first watches created through its partnership with Atlassian Williams F1 Team, bringing the British racing team’s colours to one of Switzerland’s most recognisable integrated-bracelet designs.
The collaboration comprises two 42mm steel watches: the time-and-date Laureato Williams Edition and the more technical Laureato Chronograph Williams Edition.
Both retain the familiar architecture of the Laureato, including its octagonal bezel, integrated bracelet and mix of polished and satin-finished surfaces. The influence of Williams is comparatively restrained, appearing through colour, discreet branding and details inspired by the team’s current Formula 1 car.
It is a welcome departure from the oversized logos and literal automotive references that can characterise motorsport watches.
The Williams FW48 inspires the dial
The centrepiece of both models is a blue Clous de Paris dial informed by the livery of the Williams FW48, the car being campaigned by the team during the 2026 Formula 1 season.
A small Williams “W” replaces the conventional marker at 12 o’clock, while the team emblem appears on the sapphire crystal caseback. Red accents echo the keyline used on the FW48 without overwhelming the established Laureato design.
The three-hand model offers the quieter interpretation. Baton-shaped, rhodium-plated hands and hour markers are filled with white-emitting luminescent material, while a date window sits at three o’clock.
The chronograph creates a more obvious connection with motorsport. Three subdials are framed by rhodium-plated rings, with red appearing on the small-seconds hand and the tip of the central chronograph seconds hand.
Both watches measure 42mm across and are water resistant to 100 metres. The standard Laureato has a case thickness of 10.68mm, while the additional mechanics of the chronograph increase its profile to 12.16mm.
Two in-house automatic movements
The Laureato Williams Edition is powered by Girard-Perregaux’s self-winding GP01800 calibre. The movement provides hours, minutes, central seconds and the date, with a minimum power reserve of 54 hours.
The Laureato Chronograph Williams Edition uses the automatic GP03300 calibre, which combines its chronograph functions with a date display and offers a minimum power reserve of 46 hours.
Both movements operate at 28,800 vibrations per hour and can be viewed through their sapphire crystal casebacks.
Their decoration provides a more traditional counterpoint to the Formula 1 association. Finishing techniques include Côtes de Genève, circular graining, bevelling, mirror polishing, satin finishing, engraving and snailing.
The result is less about reproducing the appearance of a racing car than identifying the common ground between two mechanical disciplines: precision, incremental development and the considerable work hidden beneath the finished product.
Parallel histories
The timing of the partnership draws attention to the remarkably similar ages of its two protagonists.
Girard-Perregaux introduced the original Laureato in 1975, establishing an integrated-bracelet sports watch with a distinctive octagonal bezel. Williams entered Formula 1 two years later in 1977.
Both have evolved continuously across the five decades since. The Laureato has moved through different sizes, materials and complications, while retaining its central design language. Williams, meanwhile, has remained one of Formula 1’s most historically significant teams.
That gives the collaboration greater credibility than a simple licensing exercise. Girard-Perregaux and Williams are not being connected solely through the familiar language of speed. Their stronger link is a shared dependence on engineering, testing and the accumulation of specialist knowledge.
The watches are described as the beginning of a longer collaboration, suggesting further Williams editions may follow.
Girard-Perregaux’s international website lists the Laureato Williams Edition at US$16,200 and the Laureato Chronograph Williams Edition at US$20,900. Australian pricing has not been announced.
Specifications
Girard-Perregaux Laureato Williams Edition 42mm
Reference: 81010-11-3680-1GM
Case: Steel
Diameter: 42mm
Thickness: 10.68mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern
Movement: Automatic GP01800
Functions: Hours, minutes, central seconds and date
Power reserve: Minimum 54 hours
Water resistance: 100 metres
Bracelet: Integrated steel bracelet with triple-folding clasp
International price: US$16,200
Girard-Perregaux Laureato Chronograph Williams Edition 42mm
Reference: 81020-11-3681-1GM
Case: 904L steel
Diameter: 42mm
Thickness: 12.16mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern with three chronograph counters
Movement: Automatic GP03300
Functions: Chronograph, hours, minutes, small seconds and date
Power reserve: Minimum 46 hours
Water resistance: 100 metres
Bracelet: Integrated 904L steel bracelet with triple-folding clasp
International price: US$20,900
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