Australia braces for 6% unemployment

Monday 23 March 2026

On face value, Australia’s labour market is in a solid position.

The nation’s unemployment rate remained at a historically low 4.3% in February 2026, well below the decade average of 4.9%:

Australia’s job advertisements and job vacancies are also tracking slightly above pre-pandemic levels:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.