WA jobless rate falls to six-month low

Australia's Unemployment hits 5.3% while jobs miss expectations

The seasonally adjusted unemployment rate decreased to 5.3 per cent and the labour force participation rate decreased to 65.5 per cent.

The Kentucky Center for Statistics reports the seasonally adjusted rate was 4.3 percent for July and 4.2 percent for June.

"This government is a jobs machine, working together with the Australian economy that is a jobs machine, that is responding to the economic policies", he told parliament. "This continues the gradual decrease in the trend unemployment rate from late 2014 and is the lowest it has been since 2012", said the Chief Economist for the ABS, Bruce Hockman in the press release.

The overall participation rate, which measures the number of people in work or looking for it, fell in July, accounting for the drop in the jobless rate.

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Annual jobs growth of 2.4% was still well ahead of the United States pace of job creation of 1.6%.

The central bank estimates full employment at about 5 per cent, a level that theoretically drives faster wage growth.

Australia's jobs market has remained solid this year, even as it cools from 2017's record run of full-time hiring.

Markets imply scant chance of a move until 2020, with interbank futures only showing a 50-50 chance of a hike by Christmas next year.


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