Australia's unemployment rate ticked higher in January even though job creation handily outpaced forecasts, data showed on Thursday, a mixed outcome that does little to clarify the outlook for further cuts in interest rates.

Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 44,000 in January from December, when they jumped 60,000. That was well above market forecasts for a 20,000 rise, while annual jobs growth accelerated further to a blistering 3.5%.

Australia's unemployment rate rose to 4.1 percent in January from 4 percent in December, in line with expectations from economists.

Australia’s unemployment rate edged higher to 4.1% in January 2025, up from December’s 4.0%, meeting estimates. The participation rate rose to a record peak of 67.3%, surpassing forecasts of 67.1%. The underemployment rate remained at 6.

Australia's unemployment rate inched up to 4.1% in January 2025 as the participation rate across the country hit a new record-high of 67.3%, according to the latest data from the Australian Bureau of Statistics.