According to the latest figures released, the total unemployment rate in Australia rose to its highest level in four months during the month of June to 5.7 per cent of the workforce.

Data showed that the total number of people looking for work rose above 700,000 for the first time since the records began in the country. The unemployment was recorded at the level of 5.5 per cent during the month of May, according to the data released by the Australian Bureau of Statistics today. The unemployment level was at 5.7 per cent in September 2009 when the global economy was facing financial crisis.

The total number of full-time jobs fell by 4400 during the month of June but the part-time jobs increased 14,800 to 3.52 million resulting in a rise in the total number of jobs to 11.67 million as of June, 2013. Experts say that the employment data comes at an important time for the economy as the newly-reinstated Prime Minister Kevin Rudd is set to deliver a speech in Canberra today and the central bank is considering its monetary policy measures.

Commonwealth Bank of Australia chief economist Michael Blyth said that the rise in unemployment comes along with population rise feeding the participation rate in the country.