A food delivery rider is seen on a street in Canberra, Australia, on Sept. 25, 2026. Australia's unemployment rate rose to its highest level in almost five years in August, according to official data released on Thursday.(Photo by Chu Chen/Xinhua)
CANBERRA, Sept. 24 (Xinhua) -- Australia's unemployment rate rose to its highest level in almost five years in August, according to official data released on Thursday.
The Australian Bureau of Statistics (ABS) said that the unemployment rate rose from 4.5 percent in July to 4.6 percent in August, the highest figure since November 2021.
Economists had forecast the figure would remain at 4.5 percent in August.
The ABS said that the number of employed Australians grew by 39,500 between July and August, but the number of unemployed people increased by 28,200 in the same period.
The participation rate, which measures the proportion of the working-age population who are either employed or actively looking for work, rose from 66.9 percent in July to 67.1 percent in August, which was the highest mark since April 2025.
The data was released ahead of the Reserve Bank of Australia (RBA)'s Monetary Policy Board meeting on Monday and Tuesday to set interest rates.
The board increased the cash rate target by 0.25 percentage points three times in the first six months of 2026, but kept it on hold at 4.35 percent at its two most recent meetings in June and August.
RBA Governor Michele Bullock said in a speech on Tuesday that an unemployment rate between 4.5 and 5.0 percent would take "enough heat out of the labor market" to ease inflation pressure.
All of Australia's Big Four banks have said they expect the RBA to lift interest rates on Tuesday. ■
A staff member cleans inside a cafe in Canberra, Australia, on Sept. 25, 2026. Australia's unemployment rate rose to its highest level in almost five years in August, according to official data released on Thursday.(Photo by Chu Chen/Xinhua)
