Australia's unemployment falls to lowest in nearly six years

Australia's Unemployment hits 5.3% while jobs miss expectations

Australia's Unemployment hits 5.3% while jobs miss expectations

WA's unemployment rate has fallen to its lowest level since the start of the year on the back of a lift in people holding down full-time work.

The Australian Bureau of Statistics (ABS) dropped Australia's latest Unemployment Rate and Employment Change figures for July, with the seasonally-adjusted Unemployment Rate hitting 5.3%, and the m/m Employment Change missing expectations to print at a -3.9 thousand contraction against the forecast +15 thousand.

Australia's jobless rate edges closer to 5% full employment estimate.

Trend employment increased by around 27,000 persons in July 2018 with full-time employment increasing by over 18,000 persons.

The last time it was at that level was in February.

Monthly hours worked in all jobs increased 4.0 million hours (0.2%) to 1,749.6 million hours. But it is still performing better than any other state overall, with a jobless rate of 4.9 per cent, up from 4.7 per cent where it was flirting with the so-called natural rate of unemployment. Annual economic growth accelerated to above 3 per cent in the first quarter; the central bank is relying on that rapid expansion and record-low rates to help rekindle inflation.

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