Australia’s Unemployment Rate Rises to 4.1 Percent

Economists had predicted the unemployment rate to remain steady.

A factory worker moves steel rods at the Multi Slide Industries manufacturing plant in Adelaide, Australia, on Aug. 12, 2013. Morne de Klerk/Getty Images

Australia’s unemployment rate has reached over 4 percent for the first time in two years as labour market conditions continued to soften.

According to the latest data from the Australian Bureau of Statistics (ABS), the jobless rate grew from 3.9 percent in December 2023, to 4.1 percent in January 2024, following a pause in November.