Australia jobs rebound in August but unemployment hits five — year high as more seek work

SYDNEY, Sept 24 (Reuters) — Australian employment rose by more than forecast in August, recovering from a surprise drop the previous month, data showed on Thursday, yet the unemployment rate still climbed to a five-year high as more people went looking for work. Figures from the Australian Bureau of Statistics showed net employment rose 39,500 in August from July, when it fell 15,800. That was above market forecasts of a 20,000 increase, though full-time jobs dipped 6,300. The jobless rate rose to 4.6%, above forecasts of a steady 4.5% and the highest since late 2021, as the participation rate climbed to 67.1%. Hours worked rose 0.7%, while underemployment eased to 6.2%. (Reporting by Wayne Cole; Editing by Christian Schmollinger) ((Wayne.Cole@thomsonreuters.com; 612 9171 7144; Reuters Messaging: wayne.cole.thomsonreuters.com@reuters.net)