Australia’s unemployment rate increased for the first time in 10 months, up 0.1% to 3.5% in August. Neither policymakers nor analysts are concerned because unemployment remains very low, and the latest result comes down to an uptick in more people looking for work. The jobs boom ramped up again in August, with about 33,500 new roles added across the economy, and the participation rate – aka those willing/able to work – also picked up from July’s drop, returning to 66.6% last month. One factor flagged as being behind the rise in job seekers is the financial pressures of cost of living increases and interest rate rises. The Reserve Bank raised interest rates again this month, and while analysts say the latest job numbers could give the central bank pause for thought ahead of next month’s rate decision, high inflation and recent market shocks in the US could see more hikes to come.