Unemployment rate eases to 6-year low

A fall in the participation rate has dropped the unemployment rate to 5.3 per cent in July.

Source: Getty Images/lunavandoorne

Australia's jobless rate has fallen to 5.3 per cent in July, beating economist expectations, although the participation rate has fallen.

The seasonally adjusted unemployment rate improves on June's 5.4 per cent result, while employment fell by 3,900 jobs to 12.575 million and the participation rate fell by 0.1 point to 65.5 per cent, figures from the Australian Bureau of Statistics show.

Full-time employment increased by 19,300 to 8.587 million people and part-time employment fell by 23,200 to 3.988 million.

Economists were expecting an increase of 15,000 jobs and the unemployment rate to remain at 5.4 per cent.