April unemployment in Australia climbed to 4.5%, exceeding forecasts and marking the highest level since November 2021.
Australia’s unemployment rate jumped to 4.5% in April, up from 4.3% in March and above the 4.3% forecast. The increase marks the highest jobless rate since November 2021, signaling potential economic softening.
Analysts had anticipated a steady rate, matching the prior month’s figure. The rise follows weaker-than-expected flash PMI data, which fell to 47.8 in May as new orders declined at the fastest pace since 2021.
The Australian dollar weakened following the release, reflecting concerns over labor market resilience amid broader economic pressures.