Australia’s unemployment rate is up again… It’s the 2nd consecutive month that it has happened, this time going from 3.5% to 3.7% in January. Economists were predicting the rate to stay steady, but it turned out that 11,500 people became jobless last month. The Bureau of Stats’ Bjorn Jarvis said the results were largely driven by seasonal fluctuations as people switched jobs, and Treasurer Jim Chalmers said it was an “obvious consequence” of a slowing global economy. In its recent official statement, the Reserve Bank said it expects unemployment to rise over the coming year as interest rate increases put a brake on the Aussie economy. It’s something RBA Governor Philip Lowe is likely to be grilled on today as he goes in for round 2 at Parliament House… He fronts the House of Representatives Economic Committee this morning.