ABS data shows Australia's unemployment rate rose by 0.2 percentage points in June, after the Reserve Bank surprised markets last week by keeping interest rates on hold.

The Australian Bureau of Statistics reported that the unemployment rate rose to an over three-year high of 4.3% in June, ending its five-month hold and exceeding forecasts of 4.1%, while employment increased by just 2K,

Australia’s unemployment rate rose unexpectedly in June, significantly boosting the case for an interest-rate cut in August.