Australia’s Unemployment Rate Rises to 4.1 Percent

Published on February 15, 2024

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. In contrast, the participation rate remained unchanged at 66.8 per cent. ABS head of labour statistics Bjorn Jarvis said the lift in the jobless rate was due to employment remaining stable and unemployment rising by 22,000 people in January. “This was the first time in two years, since January 2022, that the unemployment rate had been above 4 percent,” he said....

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