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Unemployment rate at 8 year low

Article image for Unemployment rate at 8 year low

The unemployment rate has come down to just under five per cent, seasonally adjusted, bringing it to its lowest level since 2011.

However, there weren’t more jobs created, rather fewer people looking for work with only 4,600 new jobs created compared to about 39,000 jobs in January.

The NSW unemployment rate sits at 4.2 per cent.

Head of Macroeconomics BIS Oxford Economics Sarah Hunter tells Ross Greenwood she didn’t anticipate the results.

“I actually thought we might see a fall… we didn’t we got a small rise in employment.

“Despite what some of the other indicators to the economy suggest… the labour market is definitely a bright spot at the moment.”

Click PLAY below to listen to the full interview

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