Australia Adds Jobs as Unemployment Reaches 4.6%

Australia’s employment rose by 39,500 in August, beating forecasts, while the unemployment rate climbed to 4.6%, its highest level since November 2021, as more people entered the labour force, Australian Bureau of Statistics data showed Thursday. The jobless rate increased from 4.5% in July, contrary to economists’ expectations that it would remain unchanged. The participation rate, which measures the share of people working or seeking work, rose to 67.1% from 66.9%. The figures reflect a labour market adding jobs while the pool of job seekers expands. The July employment decline was revised to about 15,800 to 15,900, and forecasts for August’s gain ranged from 20,000 to 21,500. August’s employment increase was concentrated in part-time work. Part-time jobs rose by about 45,600 to 46,000, while full-time employment fell by roughly 6,000 to 6,300. Hours worked increased 0.7%, and underemployment eased to 6.2%, according to reported ABS figures. Sean Crick, the ABS head of labour statistics, said a larger proportion of people who had been outside the labour force moved into unemployment in August than in recent years.