Unemployment rate jumps to 4.5% in April
Australia’s unemployment rate rose to 4.5% in April, its highest since November 2021, as employment fell by 18,600.
The decline in employment was broad-based, with full-time employment declining by 10,700 and part-time employment falling by 7,900.
The participation rate slipped to 66.7% from 66.8%, below expectations.
The result puts pressure on the Reserve Bank of Australia’s end-2026 unemployment forecast of 4.3% and adds to the case for a pause at the June meeting.