Unemployment drops to 5.5 percent

Australia’s unemployment rate fell to 5.5 percent last month, as the labour market gathered strength, latest ABS figures reveal.

The unemployment rate eased to 5.5 percent in December, defying analysts’ predictions that the jobless rate would remain unchanged at 5.7 percent for the month.

The economy added 35,200 jobs last month, much more than the 10,00 extra jobs economists had tipped.

CEO of Drake Australia Matthew Tukaki said the labour force figures point to another positive trend for the Australian economy.

“131,300 new jobs have been created in the past 4 months and 58 percent of these have been full-time positions. When companies are cautious or worried about the future it is growth in part-time jobs that is most common, but with the majority of new jobs being full-time this points to confident employers gearing up for growth,” he said.

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