Australian Unemployment Rate Hits Highest Level Since COVID-19 Pandemic

The Australian unemployment rate has risen to its highest level since the COVID-19 pandemic, according to data from the Australian Bureau of Statistics (ABS). In July 2026, the unemployment rate reached 4.5%, up from 4.4% in June 2026.

This increase is consistent with the Reserve Bank of Australia's (RBA) forecast that economic conditions will slow down next year, reducing the likelihood of another interest rate hike.

The number of employed people remained at around 14.8 million, but decreased by 15,800 in July due to a sharp decline in part-time work.