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Unemployment rate back above 4%

The seasonally adjusted unemployment rate has moved above 4% for the first time in two years, coming in at 4.1% for January, according to ABS figures released today.

Full-time employment rose by 11,100 and part-time jobs fell by 10,600.

The Bureau notes that, similar to January 2022 and 2023, the increase in the unemployment rate in January 2024 coincided with a higher-than-usual number of people who were not employed but who said they will be starting or returning to work in the future...