Australia's unemployment rate rises to 4.5% in July as employment unexpectedly contracts
MacroDigital Finance
Australia's seasonally adjusted unemployment rate edged up to 4.5% in July 2026, beating market expectations and rising from 4.4% in June. The number of unemployed increased by 4,200 to 691,500, while total employment fell by 15,800 to 14.81 million, missing expectations for a 15,000 gain and marking the first monthly decline since April. The benchmark S&P/ASX 200 Index rose 31 points or 0.4% to 9,085 in Thursday morning trade, snapping a six-session losing streak, while the Australian dollar weakened to around $0.71 as cooling labor data reduced expectations for further RBA rate hikes.
