FX.co ★ Australia Jobless Rate Unexpectedly Rises

Australia’s seasonally adjusted unemployment rate rose to 4.3% in February 2026, surpassing both the 4.1% market forecast and the levels recorded in the previous two months. This was the highest rate since November, as the number of unemployed people increased by 35,000 to 659,100, a three-month high, up from 624,200 in January.

The pool of people seeking full-time work grew by 31,000 to 433,000, while the number of part-time job seekers edged up by 3,900 to 226,100.

Total employment, however, rose by 48,900 to a new record of 14.75 million, far exceeding expectations for a 20,300 gain and following an upwardly revised 26,000 increase in January. Part-time employment surged by 79,400 to 4.63 million, but full-time employment fell by 30,500 to 10.12 million.

The participation rate climbed to 66.9%, a four-month high, compared with both December’s reading and market expectations of 66.7%. The underemployment rate remained unchanged at 5.9%.

Meanwhile, total monthly hours worked across all jobs slipped by 3 million to 2,007 million.