13 Aug 2010

Unemployment rate up in Australia

10:04 am on 13 August 2010

Australia's unemployment rate rose to 5.3% in July, according to official figures.

About 24,600 more people were out of work, raising the rate from 5.1% in June. Analysts had predicted no change.

Economists say the unemployment data has cut the likelihood of an immediate rise in interest rates by the Reserve Bank of Australia, from 4.5%.