Australia’s unemployment rate hits two-year high of 4.1% as higher interest rates bite

The Australian economy added 11,000 jobs in January but more people were looking for work, which led to the unemployment rate rising to 4%. Photograph: Steven Saphore/AAP

Australia’s jobless rate jumped to a two-year high in January as employers barely added any jobs and more people started to look for work.

The economy added 11,100 full-time jobs and shed 10,600 part-time roles, leaving a net gain for the month of just 500 jobs.