Australia’s Unemployment Falls to Lowest in Almost Six Years

Bloomberg.com — Australia’s jobless rate dropped to the lowest level since November 2012, edging toward the full employment level the central bank is targeting, even as hiring fell and fewer people sought work in July.

Unemployment fell to 5.3 percent from 5.4 percent in June, which was also economists’ median estimate, Australian Bureau of Statistics data showed in Sydney Thursday. The central bank estimates full employment at about 5 percent, a level that theoretically drives faster wage growth. Employment fell 3,900 from June, when it rose an upwardly revised 58,200. […]