In August the unemployment rate rose to 4.6 per cent, the highest for nearly five years, even as employment continued to grow relatively solidly.

It will do little to change the likelihood of a rate rise this week.

The latest labour force figures released by the Bureau of Statistics are that annoying type of economic data that provides something for everyone.

If you believe the Reserve Bank is wrong to keep raising interest rates – and it should hold off on raising the cash rate tomorrow to its highest level since 2011 of 4.6 per cent – you will point to the unemployment rate rising to 4.6 per cent:

This means there only needed to be a further 600 people out of work for the rate to have been rounded up to 4.7 per cent.

The rise was driven mostly by more men looking for........

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