Australian unemployment rate rises to highest level since 2021

Canberra (ANTARA) - The unemployment rate in Australia rose to its highest level in almost five years in August 2026, according to official data released on Thursday (24/9).

The Australian Bureau of Statistics (ABS) stated that the unemployment rate increased from 4.5% in July to 4.6% in August, the highest figure since November 2021. Economists had previously predicted that the figure would remain at the 4.5% level for August.

The ABS noted that while the number of employed Australians increased by 39,500 between July and August, the number of unemployed individuals rose by 28,200 during the same period.

This data was released ahead of the Reserve Bank of Australia (RBA) Monetary Policy Board meeting on Monday (28/9) and Tuesday (29/9) to determine interest rates. The Board raised the benchmark interest rate by 0.25 percentage points three times during the first six months of 2026, but maintained it at 4.35% during its last two meetings in June and August.

In a speech on Tuesday, RBA Governor Michele Bullock stated that an unemployment rate between 4.5% and 5.0% would “cool the labour market,” thereby easing inflationary pressures. All four major Australian banks have indicated their expectation that the RBA will raise interest rates on Tuesday.