Australia Jobless Rate Above Forecasts

Australia’s seasonally adjusted unemployment edged up to 4.5% in July, surpassing both market expectations and June’s figure of 4.4%. The latest reading was the same as April’s figure, which was the highest since November 2021. The number of unemployed increased by 4,200 to 691,500 from 687,400 in June, with the number of full-time employed people advancing by 6,100 to 462,900, while the number of part-time employed people dropped by 1,900 to 228,700. Employment fell unexpectedly by 15,800 to 14.81 million, defying expectations for a 15,000 increase, following an upwardly revised gain of 80,300 jobs in June, marking the first decline in three months. Part-time employment dropped by 32,200 to a three-month low of 4.60 million, while full-time employment increased by 16,300 to 10.21 million. The participation rate inched down to 66.9%, in line with expectations. Meanwhile, the underemployment rate stood at 6.4%, unchanged from a downwardly revised figure in June.

Australia’s seasonally adjusted unemployment rate stood at 4.4% in June, in line with both market expectations and May’s figure. The number of unemployed rose by 12,700 to 686,800 from 674,100 in May, with the number of full-time job seekers increasing by 13,300 to 457,300, while the number of part-time job seekers fell by 600 to 229,500. Employment increased by 76,300 to a record high of 14.82 million, surpassing estimates of a 15,000 increase, following an upwardly revised gain of 43,900 jobs in May. Full-time employment climbed by 29,300 to 10.17 million, while part-time employment increased by 47,100 to 4.65 million. The participation rate ticked up to 67.0% from both May's figure and market expectations of 66.7%, marking its highest level since July 2025. The underemployment rate edged up to 6.5% from 6.3%. Meanwhile, total monthly hours worked across all jobs increased by 5 million to 2,014 million.

Australia’s seasonally adjusted unemployment rate inched down to 4.4% in May, from April’s more than four-year high of 4.5%, in line with market expectations. The number of unemployed fell by 18,300 to 671,300 from 689,600 in April, with the number of part-time job seekers falling by 9,700 to 230,500, while the number of full-time job seekers dropped by 8,600 to 440,800. Employment increased by 40,300 to 14.74 million, surpassing estimates for a 30,000 rise, the strongest employment gain since December, rebounding from an upwardly revised loss of 40,700 jobs in April. Full-time employment rose by 5,200 to 10.14 million, while part-time employment increased by 35,200 to 4.60 million. The participation rate edged up to 66.7% from a downwardly revised 66.6% in April, which was the lowest level in five months, matching market estimates. The underemployment rate inched up to 5.9% from 5.8%. Meanwhile, total monthly hours worked across all jobs decreased by 22 million to 2,010 million.