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2d ago

Australia's Unemployment Rises to 4.3% as Part-Time Hiring Surges

Rising participation alongside a tilt to part-time roles complicates the RBA’s next move.

Commuters cross the street at Town Hall, after Australia's unemployment rate reached 4.5%, in Sydney, Australia, October 16, 2025. REUTERS/Hollie Adams
People walk alongside a Job Centre Plus in London, Britain, October 25, 2023. REUTERS/ Susannah Ireland/File Photo
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Overview

  • ABS figures for February show net employment up 48,900 versus forecasts near 20,000, even as the jobless rate climbed to 4.3% with participation lifting to 66.9%.
  • Gains were concentrated in part-time roles (+79,400) while full-time positions fell (−30,500) and hours worked slipped 0.2%, with fewer older workers retiring.
  • The RBA lifted the cash rate for a second straight month to 4.1% this week, with Governor Michele Bullock stressing domestic demand-supply pressures even as higher petrol prices feed inflation.
  • Markets price roughly a 57% chance of another RBA increase in May, as economists call the report mixed and see early signs of labour-market loosening beneath solid headline hiring.
  • In the UK, the ONS reported unemployment steady at 5.2% and regular pay growth easing to 3.8%, a five-year low, as policymakers weigh softer wages against higher oil prices above $110 a barrel.