Australia's unemployment rate increases to 4.2% in July.
This marks the highest unemployment level since November 2021
Despite the rise, 58,200 new jobs were created last month
The labor force participation rate hit a record 67.1%
The employment-to-population ratio increased to 64.3%
Underemployment rate fell slightly by 0.1 percentage points to 6.3%
Seasonally adjusted hours worked jumped by 0.4% in July
4.2% of workers reduced hours due to illness, consistent with May
The combined unemployment and underemployment rate reached 10.6%
Experts see employment growth nearing the pace of population growth
The gender pay gap fell to a record low of 11.5%