Australian jobless rate drops to lowest level since 2012

Australia’s jobless rate dropped to 5.3 percent last month, the lowest since November 2012.

The latest unemployment figures show the rate fell 0.1 percent, despite expectations it would remain steady.

Full-time employment increased by 19,300 in July, while those in part-time jobs fell 23,200.

Over 300,000 jobs have been created in the last year to last month.

Jobs Minister Michaelia Cash hailed it as a “record high”, and the result of economic policies of the Turnbull Government.

The youth unemployment rate fell to 11.1 percent, and while the minister praised the drop, she said it was still too high.

Deputy Labor leader Tanya Plibersek said while the “small drop” in the unemployment rate was “welcome”, a rise in the number who’d given up looking for work was a concern.

And she said there needed to be a stronger growth in full-time positions, and better pay and conditions for those with a job.