Australia's Unemployment Rate Hits Pandemic High

Australia's unemployment rate has risen to its highest level since the pandemic in August, according to ABC News. The seasonally adjusted figure increased to 4.6%, up from 4.5% in July.

This marks the country's highest unemployment rate in the period following COVID-19, with the national rate continuing to rise gradually in August.

Reserve Bank of Australia Governor Michele Bullock had previously stated that an unemployment rate between 4.5% and 5% could help ease pressure on the labor market and reduce inflationary pressure.