Australia’s unemployment rate rises to post-COVID high of 4.6% in August
AI Market Summary
Australia's unemployment rate rose to 4.6% in August, the highest in the post-COVID period, even as participation climbed near record highs. The data still leaves markets and major banks expecting an RBA rate hike next week, tightening financial conditions. For AUD, the mix of softer labour momentum but persistent inflation risk keeps the near-term focus on policy tightening and growth sensitivity.
Impact level
● Medium
Affected assets
NCFXAUD2USD/USDT+0.30%
AI Insight · NCFXAUD2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Australia’s unemployment rate rose to 4.6% in August from 4.5% in July, marking its highest level in the post-COVID period. The participation rate climbed to 67.1%, near the record high. RBA governor Michele Bullock has said an unemployment rate between 4.5% and 5% would help cool the labour market and ease inflation pressures. Some economists say the increase in unemployment is not enough to stop the central bank raising rates next week.
