Australian unemployment rates rise

As of October 15, 2026, Australia's unemployment rate remained at 4.7%, reaching its highest level since October 2021 and surpassing market expectations for a steady rate. The Australian Bureau of Statistics reported an estimated 39,300 fewer Australians were employed in September compared to the previous month, while the number of unemployed people increased by 8,900. This uptick follows revisions that raised August's unemployment rate from 4.6% to 4.7%. The participation rate, which measures those in work or actively seeking employment, also fell unexpectedly to 66.8%, down from 67% the previous month. These figures come as inflation surges and as the Reserve Bank of Australia (RBA) raised interest rates to a 15-year high of 4.6% at the end of September. The RBA now faces pressure to halt further rate rises given the job market's weakening conditions, especially in states like NSW, where unemployment rose by 0.4 percentage points to 4.7%, and 35,000 jobs were lost during the month.