Surprise unemployment jump ahead of RBA’s looming rates call

- 2.01am . First published at 1.35am

shares Share article The unemployment rate has unexpectedly risen after 6000 people lost their full-time jobs in August, but it’s unlikely to spare Australians from another rate hike next week.

New data released on Thursday morning by the Australian Bureau of Statistics showed the jobless rate rose to 4.6 per cent for last month, up from 4.5 per cent in July.

The jump in unemployment will factor into the RBA’s next interest rate decision, to be handed down on Tuesday. Peter Rae

It is the highest unemployment level recorded in Australia since the end of the pandemic.

Economists had expected the figure to remain steady at 4.5 per cent.