Australia's unemployment rate rose to 4.6% in August, above economists' 4.5%
forecast, the Australian Bureau of Statistics said on Thursday. Employment
increased by 39,500 versus an expected 20,000, while the participation rate rose
to 67.1% from 66.9%. ABS head of labor statistics Sean Crick said the share of
people moving into unemployment from outside the labor force was higher than in
recent years. The report is the last major data point before the Reserve Bank of
Australia's end-September meeting and complicates the RBA's 'slightly tight'
labor market assessment: higher participation may reflect a stronger labor
supply or rising cost-of-living pressure driving more people to seek work.
