Australia’s unemployment rate stood at 4.2% in August 2024, up 0.5% compared to August 2023 and down 0.1% from July 2024, according to seasonally adjusted data released today by the Australian Bureau of Statistics (ABS).

The number of unemployed persons totalled 627,000 in August 2024, up 16.0% (86,600) over the year and down 1.6% over the month (-10,500) on a seasonally adjusted basis.

Kate Lamb, ABS Head of Labour Statistics, said in a press release (on month-on-month figures), “The number of unemployed people fell by around 10,000, while the number of employed people grew by around 47,000, in August. This resulted in the unemployment rate remaining steady at 4.2% and the participation rate remaining at its record high of 67.1%.”

The number of employed persons stood (seasonally adjusted) at 14,458,600, up 47,500 (0.3%) over the month and up 374,200 (2.7%) over the year.

Meanwhile, the country’s labour force participation rate stood at 67.1% in August, with no change over the month and up 0.4% over the year.

Monthly hours worked in all jobs stood at 1.962 billion in August, up 0.4% over the month and up 1.7% over the year.