Australia's Unemployment Rate Rises to 4.1% as Workforce Participation Hits Record High

January saw a surprising increase in employment, driven by full-time job growth, but unemployment also ticked up due to more people entering the workforce.

• The unemployment rate in Australia increased to 4.1% in January, up from 4.0% in December, according to the Australian Bureau of Statistics (ABS).
• Employment rose by 44,000, exceeding forecasts, with growth primarily in full-time positions, while part-time employment declined.
• The workforce participation rate reached a record high of 67.3%, reflecting more people actively seeking or starting work.
• The rise in unemployment was partly attributed to a higher-than-usual number of people waiting to begin or return to jobs after the summer.
• Female employment and unemployment saw the most significant changes, with 44,000 more women employed and 24,000 more unemployed compared to minimal changes for men.

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Australian Broadcasting Corporation 9News