Australia’s unemployment rate rises to 4.6% in August as full-time jobs fall by 6,000
AI Market Summary
Australia's unemployment rate rose unexpectedly to 4.6% in August as full-time employment fell, while participation climbed to 67.1%, signaling a cooling labor market driven by labor-supply growth. The print lands just ahead of the RBA's September 29 decision; despite modest slack, markets still lean toward a 25 bp hike. Near-term focus shifts to whether further labor softening reduces inflation pressure and changes policy expectations.
Impact level
● Medium
Affected assets
NCFXAUD2USD/USDT+0.22%
AI Insight · NCFXAUD2USD/USDTAI Insight
● Neutral
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Australia’s unemployment rate rose unexpectedly to 4.6% in August, above forecasts of 4.5%. Full-time employment fell by 6,000, while the participation rate increased to 67.1%. The figures were released ahead of the Reserve Bank of Australia’s interest-rate decision next week. RBA Governor Michele Bullock has said unemployment would need to rise into a 4.5% to 5% range to help ease inflation pressure.
